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What We Do
Since 1989, Bottomline has been modernizing global business payments with connected solutions for more than 800,000 financial institutions and businesses in 92 countries.
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Our Company
What is changing in the world of payments, and how does it impact accounts receivable teams and their customers? Our annual Payments Barometer looks to answer just that. Here’s what we gleaned about speed, security and much more from interviewing over 1,600 finance professionals in the United States and Great Britain this year. You’ll find insights that apply to your business, from the importance of cash flow in 2023 to the rising concern with fraud to the positive impacts of being paid electronically.
Electronic payments get you paid faster. Got your attention, didn’t we? The simple truth is that ACH and virtual card payments can replace the checks of yesteryear and get you paid in fewer days (or even, in extreme cases, weeks). With cash flow as vital as ever and customers eager to maintain good relationships with supplier businesses like yours, it’s time to make a push to be paid via digital means and realize the benefits that come with it.
Checks have been a reliable payment method for centuries—some estimates place the invention of checks back to 1762—but technology is finally replacing them. Today, U.S. mail slowdowns, the inherent security problems with checks and the potential damage to business relationships caused by slow or lost payments is encouraging a widespread shift to ACH and virtual card. If you’re not taking full advantage of that shift, you might be frustrating your valued payers and getting paid more slowly. Here’s a compelling argument for why checks are slowing down business payments in 2023.
Virtual card and ACH payments through Paymode-X allow for quicker payments and more favorable payment terms. Accepting these digital payment types can cut the time you spend waiting for a payment by days, and the suite of tools like scheduled reports and CTX Paymode-X offers allows for quicker reconciliation and cash application. The end result is simple and appealing: You get paid more quickly and improve your cash flow
To access the app, Upgrade your Membership to Premium and log in with your Paymode-X account credentials.
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