MSDW Podcast: Payment processing and the AP process

This episode is sponsored by KwikTag by enChoice.

Many organizations understand the benefits of automated invoice approval but often they haven't taken the next step to automate payments processing. Our guests on this episode, Mary Miller and Tiffany Allen of KwikTag by enChoice, share their outlook on payment processing and how its role alongside AP automation has changed in the last couple years. Paper checks have always been a costly and inefficient payment method, especially at scale, but the pandemic made checks even more challenging to manage. We discuss key elements of automating payment processing like virtual cards and cash flow management. But Tiffany and Mary also explain some of the broader spend management opportunities that their customers are enjoying, like control of spend over time and optimizing contracts.

Show Notes:

• 2:00 - How to position payment processing in the context of AP
• 4:00 - How well do organizations assess their own payment processing needs
• 5:30 - What are virtual cards and what purpose do they serve?
• 9:30 - Why KwikTag offers payment processing in addition to AP automation
• 11:00 - Choosing a payments provider and analyzing customer needs
• 16:00 - What GP customers can expect from living with a payment processing automation
• 18:00 - Vendor onboarding needs and challenges

KwikTag, by enChoice, leads organizational digital transformation as the one system for invoice and payment automation. KwikTag helps organizations increase efficiency and gain visibility into their invoice workflows with complete AP automation and powerful integrations with the Microsoft Dynamics ERP systems. Visit kwiktag.com to learn how automation could benefit your business.

Learn more about KwikPayables Accelerate, the cloud-based AP and payment automation solution for Dynamics GP, watch this episode of Coffee with KwikTag: Complete the AP Cycle with Payment Processing. To read more about why AP and payment automation is so important post-pandemic, read the whitepaper: Why Automate AP and Payment Processes?