Optimise our payments and collections by:

1. OVERALL:

• accepting that a payment or collection is only part of a business transaction, the objective should be to optimise the whole business transaction not just the payment/collection part, see how at:
  • This is the future of all payment services: automation of whole business process | C&TM File
  • Tipalti launches first w-8 solution fully integrated with global payment service | C&TM File
• using connectivity hubs to manage all your payment and transaction types across the group, see:

• • Volante Technologies VolPay Hub: centralized digital payments orchestration hub | C&TM File
  • Misys - empowering the corporate | C&TM File
• making payment and collection factories effective, see:
  • Making payment factories effective - the vital stages | C&TM File
  • A complete POBO & ROBO payment factory making subsidiaries ‘bank-free’ is possible | C&TM File
• using ISO 20022 for all payments, see: Payments future is ISO 20022, even for real-time payments | C&TM File

2. BILL COLLECTION:

• using the most effective payment terms, see: Do you have the ‘right’, the most effective payment terms? | C&TM File
• promoting e-invoicing where you can and then link it to supplier financing, see: Is e-invoicing / e-billing entering a new era? | C&TM File,  Basware launches Basware Discount as part their Commerce Network | C&TM File
• using e-invoicing combined with SCF for your suppliers who need it and then spend analytics to understand your expenditure, see: PrimeRevenue Dynamic Discounting service integrated with SCF & Spend Analytics | C&TM File
• aiming for straight-through reconciliation, see: 
  • Straight-through reconciliation of remittances with SunGard’s GETPAID | C&TM File
  • Top Image Systems and Hanse Orga combine to provide Accounts Receivable Solutions | C&TM File
• using pan-European collection systems, see: 
  • Pan-European smart collection via Sentenial’s Nuapay opens up new efficiencies | C&TM File
  • MyBank pan-European system processed 100+ million EUR of payments in 2015 | C&TM File
• not forgetting lockboxes, they still make sense, see: 
  • Bank of America Merrill Lynch introduces digital processing for Wholesale Lockbox | C&TM File
  • TransCentra enhances remote lockbox offering with multi-document scanning | C&TM File

3. PAYMENTS AT POINT OF SALE:

• recognising that credit card usage is declining, and debit cards will dominate card usage, see:  UK consumer payments in 2024 dominated by debit cards & demise of credit cards | C&TM File
• remembering that by 2019 alternative payment systems particularly e-wallets will be huge, & multi-channel collection systems are a must, see:
  • By 2019, 55% of consumer e-commerce payments will use alternative payment methods | C&TM File
  • Macy’s show delivery of omni-channel buying experience with integrated payments | C&TM File
  • Bill collection strategy for surviving the multi-channel payment systems problem | C&TM File
• remember that mobile is not just for low value payments, see:  Mobile is not just for low value: Homeowner uses Barclays Pingit to make £23k deposit | C&TM File

4. MAKING PAYMENTS:

• making all payments locally, see: Don’t make international payments cross-border, make them locally in real-time | C&TM File
• big boys: paying your suppliers, particularly SMEs, on time, to keep economies healthy, see: 
  • Late payments by large companies are a cancer, costing jobs & inhibiting recovery | C&TM File
  • Late payment is costing UK's SMEs £11bn a year | C&TM File
• taking care on WHO YOU PAY as it is the number one anti-bribery and corruption challenge for corporates, see: Companies must wake up to risk of third party non-compliance | C&TM File
• trying the new efficient cloud based payment services, see:  Bottomline’s PT-X cloud based payment platform - secure payments made simple | C&TM File