Have you found this content useful? Use the button above to save it to your profile.
Over the last decade, accounting technology has accelerated at a breakneck pace, with firms embracing real-time data, automation and cloud-enabled visibility. But one core area remains stuck in the past: payments.
This issue is even more startling given how important payments are. Every business relies on the ability to send money to suppliers, staff and tax authorities in a timely, accurate and secure fashion, but the processes behind payments have lagged behind the curve.
The challenge is that firms and clients have become accustomed to seeing payments as an intractable issue. Even firms that have embraced cloud accounting tools struggle to offer an efficient and scalable payments service for clients, with most not even considering it at all.
However, with the rise of dedicated payment solutions, the accounting industry is beginning to move towards a new standard of accounts payable and payment services for their SME clients. It starts with saying goodbye to line-by-line spreadsheets, last-minute payment runs and disconnected processes to create a payment model that drives real value for clients.
In our latest guide, we explore the challenges of traditional payment methods and how a modern approach to payments can delight your clients, reduce risk, and drive new revenue opportunities for your practice.