Businesses around the globe are slowly but surely transforming from operations with expensive and business-limiting manual processes to digitally connected enterprises. Banks and technology vendors are helping them to achieve this by providing the latest-generation technologies. This “digitalization” is not occurring at the speed at which technology is advancing, for a number of reasons. However, with a growth environment expected and inevitable rising rates, along with competitive pressures related to the interconnected world, working capital effectiveness will become a primary focus and drive faster adoption of business cash cycle technology, from procurement through financial reconciliation.
In a new research report, Digitizing the Business Cash Cycle: Advancements and Partnerships, Mercator Advisory Group discusses the latest technology solutions supporting the procure-to-pay space and methods for connecting the various tools continually being added. Procurement, e-invoicing, payments, and alternative financing are being digitized and integrated for optimal performance in managing working capital. The report explains why this is a critical need as companies move further into the era of a high-tech, global economy.
"As we have consistently advised during the past years, effective working capital management is a key to financial performance and company decision flexibility moving forward. This holds true in both slow-growth developed economies as well as developing economies, where high growth can mask control issues that are later uncovered as industries and systems mature,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service and author of the report. “Industry-leading solution-providers are recognizing that providing a product with end-to-end capabilities requiring fewer client company resources to launch and support can increase customer stickiness.”
The report is 16 pages long and contains 7 exhibits.
Companies mentioned in this research note include ACI, Basware, Bill.com, Bottomline Technologies, Broadridge, Coupa, Demica, Esker, GCSF, Infor, Orbian, Prime Revenue, SAP Ariba, SciQuest, SunGard, Taulia, Tieto, Tradeshift, Transcepta, Traxpay, Tungsten, Zycus