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The $22 trillion business-to-business (B2B) US payments market is facing a paradox. High invoice volume (a business can see anywhere from hundreds to tens of thousands of invoices per month) and small departments that still use largely analog process are driving a desire to digitize: Enterprises using digital payables platforms can see 81% lower processing costs and 73% faster processing cycle times, per Kofax.
But accounts payable is a complex process, and entrenched habits and limited resources have stymied digitization and kept companies set in their ways.
See the rest of the story at Business Insider
See Also:
- One-fifth of UK consumers are mulling a savings account switch
- NatWest, Barclays, and Lloyds lead in offering UK consumers' most valued mobile banking features
- Monzo is launching a new version of Monzo Plus
from Business Insider https://ift.tt/2KwUCmx
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