Payment Optimization: A step by step guide for business organizations
Harness the Power of Enterprise Payment Optimization
As businesses grow and expand, managing payments can become a complex and challenging task. Payment Optimization is the process of streamlining and automating payment activities to improve efficiency, reduce costs and maximize cash flow. This concerns the whole financial supply-chain and can be set up in an agile approach.
However, the traditional "excel-based" treasury model is still prevalent today and leads to high error rates, less transparency, less control, and a higher risk of fraud. While it might work for some processes – sooner or later payment optimization is required to remain competitive. Either it can be adopted in an agile approach and gradually increase functionalities based on specific requirements or opt for a partial or complete implementation approach. For finance leaders who are trying or planning to optimize their financial IT landscape within a business organization environment, payment optimization is an important but also a very challenging aspect which requires complex preparations. Both approaches require a carefully planned out optimization strategy in place to achieve streamlined payments across the whole organization.
What are your organization’s needs? Where to start optimizing? How should you optimize? And many more questions need to be answered before tackling this concern.
We created an eBook which outlines the five key steps towards achieving payment optimization for your organization and covers all major concerns to be taken into account before establishing.
Download the eBook now and find out how your organization can be enabled to optimize its payment & treasury processes.
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