How Integrated Payables Can Streamline the Payments Process

digital board with numbers and dollar signs March 13, 2017 By: Michael Kerner

Associations looking to operate more efficiently and effectively in their back-office functions should consider simplifying their payment process using integrated payables.

The concept of integrated payables has been around for years, but recently, advances in technology and an increase in banks willing to invest have helped to make integrated payables available to a broad range of organizations. Essentially, integrated payables allow an organization to send instructions for initiating multiple payment types—from Automatic Clearing House (ACH) transactions to commercial card payments—to banks in a single, consolidated file. Without integrated payables, finance staff must manually enter various payment instructions into multiple systems....