Hospitals, clinics and physician locations all over the country are scaling at increasing rates, and it has become necessary for providers to invest in systems that can sustain the companies’ growth. Large healthcare providers have recently reported they could benefit from the reduced operating costs, streamlined workflows, expedited payment processes and maximized efficiency that comes with integrated technology like accounts payable (AP) automation.

Customer expectations and demands constantly change. We live in a digital age where customers value seamless, convenient and flexible experiences that allow them to pay wherever they are and however they want. According to McKinsey, over three-quarters of Americans use digital payments, including contactless in-store purchases, browser or in-app online payments and person-to-person payments. 

In today's digital age, convenience, reliability and security are top of mind for companies wanting to keep their customers satisfied. 

Payment digitization has transformed how businesses and consumers pay. Consumers, including borrowers, are looking for faster and more convenient payment options and are not afraid to seek out providers who offer their preferred payment technology.

It might (or might not) surprise you that many B2B businesses are still using outdated payment methods like paper checks for their accounts payable (AP) processes. In fact, according to a study from PYMNTS, “25% of B2B payments are made via paper checks.”

Most people dread tax season, a typically chaotic time when we scramble to get our documents organized in a timely and accurate manner. Some of us get them done quickly, while others wait until the last minute.

Payment gateways and processors are what make the magic happen - at least on the consumer's end. To understand how these technologies work, you'll have to learn what's going on behind the scenes of this intricate financial dance.

Efforts to stem the spread of Covid-19 have forced consumers and businesses into workarounds for meeting basic needs — usually with significant help from pre-existing technologies. Banking is one example — and it’s likely, say experts, to remain substantially tech-enabled from now on as companies and their customers grow accustomed to the ease and convenience of digitized financial service.