![]() “If you're not moving to that, you need to think about doing it. “I think COVID-19 has really brought to the forefront treasury professionals thinking about electronic payments,” said Rue Jenkins, payments group lead for the AFP 2020 Planning Task Force and a former corporate treasurer. ![]() ![]() Perhaps most importantly, more than a third (35%) of respondents to the American Express survey said that the impact of COVID-19 has made them consider changing how they process payments. However, respondents recognized that digitizing their AP process can address common pain points. Fully 79% of respondents said they still relied on paper checks for at least some of their supplier payments before COVID-19, and 44% said most of their payments were not made digitally before the pandemic. business decision-makers feel positive about transitioning to a digital payments system. The recent American Express One AP Survey found that 84% of U.S. ![]() However, recent data suggest that the tide may be turning. Partner promotion - Lorem tore veri tatis et quasi archi te cto be.Īs the AFP survey indicated, one of the reasons why it has been so difficult for companies to entirely move on from checks is that some of their business partners-typically smaller companies-have been reluctant to do so. ![]()
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