As I noted in my 10 for 2010: Predictions for the New Decade article, “The supplier and payment networks that quickly adopt Web 2.0 capabilities and lead the way on interoperability will be the ones most likely to thrive and survive the threat from next generation networks.” Longtime e-payments specialist, Bottomline Technologies, leapt into the network business with its acquisition of Bank of America’s PayMode Network last fall in a move that was well-regarded by equity analysts and this analyst. Tomorrow I will be participating in a webinar (free registration) that presents both the A/P (buyer) and A/R (supplier) perspective on the benefits of utilizing an e-payment network. Here’s the official description of the webinar:
e-Payment Networks: A Best-in-Class Solution for Buyers and Suppliers
Co-Presented with the Aberdeen Group and Brinks, Inc.
Tuesday, February 23, 2010
2 PM EST/ 11 AM PST
In the current recessionary environment, finance professionals have intensified their focus on improving the bottom-line by optimizing working capital and reducing costs. The average accounts payable (A/P) department presents a significant and tangible opportunity to generate bottom-line savings and support an organization’s cash management objectives. Join Andrew Bartolini, Vice President and Group Director at Aberdeen Group as he presents his recent research findings on payment automation and the use of payment networks and shares:
- Performance metrics to help finance professionals benchmark their A/P performance
- Best-in-Class strategies to drive supplier adoption and increase electronic payment volumes
- Actionable recommendations to drive value to the bottom-line
Also hear from Brinks, Inc.’s Senior Cash Control Specialist about why receiving electronic payments through PayMode—the largest and fastest-growing online payment network from Bottomline—helps them streamline their receivables process.
For those of you contemplating an A/P transformation or find yourselves in the midst of one, to derive full value from your efforts, a strategy that includes the last mile (payment and settlement) is needed. Payment networks with their one-to-many connectivity can jump-start a supplier enablement program while effectively and efficiently automating the invoice payment process.
Postscript: Happy National Pancake Day (Tomorrow)! — A day that is certain to keep David Parsley, CEO of Centralized Supply Chain Services LLC (CSC supports IHOP and Applebee’s restaurants) and his team quite busy. I wonder if his team (he is a former CPO) uses a “savings pancake stack” instead of the traditional savings thermometer?