Told pymnts earlier this month. “… they have to cut costs, they have to control . Costs, they have to keep a healthy supply chain. And in order to do that, . They have to start those conversations.”the opportunity isn’t just to digitize old processes but to . Reimagine what back-office operations could be in a world where ai and real-time data are .
Increasingly the Norm Research in the
The increasingly the norm. Research in the pymnts intelligence report “smart spending: how ai is . Transforming financial decision making” found many people summarize their that more than eight in cfos at large companies are . Either already using ai or considering adopting it for a core financial function like accounts . Payable, or the process by which companies pay their suppliers, vendors and contractors.Read more: trump’s .
Could Act as Tailwind for Digitizing
Tariffs could act as tailwind for digitizing bb paymentsbuild for composability, not complexitythe financial sector’s . Modernization didn’t raimondo says u.s. to finalize china auto crackdown rules next week succeed because it built massive new systems from scratch. It succeeded because of . Composability, or the ability to plug and play apis, services and tools into existing infrastructure . Without rip-and-replace overhauls.This is especially relevant for enterprises with decades-old erp systems that underpin critical .
Functions Rather Than Fully Replacing These
Business functions. Rather than fully replacing fax database these systems — a process that can be costly, . Risky and sometimes unnecessary — leaders are increasingly embracing a modular approach. That means layering . New capabilities on top of existing platforms through open apis and microservices.Meg garand, head of . Cashpro payments and cashpro api at bank of america, told pymnts last year that growing .
Between Banks and Fintechs Are Allowing
Partnerships between banks and fintechs are allowing erp and treasury management system (tms) providers to . Optimize their own software solutions.Consider “invoice-to-pay” solutions that integrate directly with erp platforms, enabling digital . Invoicing, dynamic discounting and automated reconciliation without disrupting upstream processes. There are also ai tools . That sit atop procurement platforms to provide real-time benchmarking and vendor scoring.Ultimately, enterprise leaders who .
