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Paper out, digital in for business payments

Electronic B2B now mainstream, companies say

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  • Written by  Website Staff
Paper out, digital in for business payments

The high cost of check transactions is driving treasury and finance professionals away from paper checks, according to a survey by the Association for Financial Professionals.

Nearly 80% of organizations are in the process of transitioning their business-to-business payments from paper checks to electronic payments, according to the survey.

In addition, more than two out of three organizations would replace paper checks with electronic payments if there was a cost benefit of doing so, while 88% cite increased efficiency as the primary reason for transitioning to electronic payments from paper checks.

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As part of the Banking Exchange Interview Series we and SkyStem are proud to present our interview with Rachel Lewis, Assistant Controller at Stock Yards Bank & Trust.

In this interview, Banking Exchange's Publisher Erik Vander Kolk, speaks with Rachel Lewis at length. We get a brief overview of her professional journey in the banking industry and get insights into what role technology plays in helping her do her work.


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