EBizCharge

MAY 31, 2024

What is remittance data? Remittance data is the detailed information accompanying a payment, indicating the purpose of the payment and instructing the recipient on how to apply it against outstanding invoices. Remittance data comes in many forms, such as checks, bank transfers, or electronic remittance formats.

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Automation Remittance Data Correspondent Wire Transfer 52

PYMNTS

SEPTEMBER 21, 2016

The vast majority of companies (94 percent) said it is important that faster payments are also “smart,” with the ability to carry remittance data. It remains to be seen whether Same Day ACH will redirect the trend of paper check use back into decline.

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PYMNTS

FEBRUARY 26, 2020

Accounts payable and finance departments in the middle market want to invest in growth, in products, in service, in people — they don’t want to invest in suppliers or supplier-related processes,” he said, highlighting the supplier management and communication component of AP that is becoming increasingly important.

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Accounts Innovation Remittance Data Debit Card 72

PYMNTS

OCTOBER 26, 2018

For corporates, it’s the remittance detail of a transaction that supports settlement, reconciliation and enhanced data analytics for CFOs and treasurers to gain better insight and visibility into corporate finances. In corporate banking and payments, the challenges that arise can be vast.

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Remittance Data ACH Request for Information RTP 60

PYMNTS

DECEMBER 21, 2016

The Orlando Magic is also receiving invoices from its own suppliers and using Viewpost’s invoice management solution to send payments with included remittance data, the companies said. Viewpost is like Facebook for B2B payments,” said Orlando Magic Vice President of Finance Jeff Bissey in a statement. “It

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B2B Remittance Data Payments Cash Management 50

PYMNTS

JULY 16, 2020

This challenge can quickly lead to discouraged finance teams that abandon the effort to implement a v-card program altogether. In a conversation with Karen Webster, Anderson discussed why CFOs and finance teams don’t have to clear the supplier card acceptance hurdle entirely to still benefit from a v-card program. .

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PYMNTS

NOVEMBER 5, 2018

The Clearing House and the Federal Reserve surveyed 381 corporate decision-makers about their use of wire payments, finding that corporates are demanding a more streamlined way to send and receive remittance data along with their wire transfers.

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Small Business Same Day ACH Wire Transfer NACHA 68

PYMNTS

SEPTEMBER 7, 2020

Similarly, Comdata , a FLEETCOR company, introduced Comdata QuickPay, an invoice financing solution for users of Comdata fleet cards, which also facilitated the receipt of funds same-day.

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Commercial Card Push-to-Card Small Business Card Issuer 98

PYMNTS

JUNE 13, 2019

For blockchain technology, the crux of many of its purported benefits for the enterprise is its decentralized nature, which, proponents of distributed ledger technology (DLT) have said, promotes visibility and makes it more difficult for data to be manipulated.

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Blockchain Distributed Ledger Technology (DLT) Participant Use Case 73

PYMNTS

MAY 22, 2017

Those features include remittance advice matching, ACH and wire repair and an integrated receivables file. The tools aim to reduce paper in corporate finance operations, Wells explained, and nix manual remittance and data entry.

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PYMNTS

OCTOBER 31, 2019

Although receiving payment is, of course, critical, without the ability to understand which invoice that transaction is tied to, AR, finance and treasury executives are unable to accurately analyze which bills have been paid, which are late, or which may have an issue with the customer. The Path to Integration.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

SEPTEMBER 12, 2019

Although new technology is appealing, treasury and finance professionals tend to stick with what works for them, and their vendors,” said AFP President and Chief Executive Jim Kaitz in a statement this week. Check and ACH transactions have been around for a long time for a reason.

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PYMNTS

JUNE 26, 2019

For instance, when it comes to blockchain technology , the crux of many of its purported benefits for the enterprise is its decentralized nature, which, proponents of distributed ledger technology (DLT) have said, promotes visibility and makes it more difficult for data to be manipulated.

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PYMNTS

JUNE 22, 2016

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment.

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Automation Accounts Payments Disputes 42

EBizCharge

JUNE 19, 2024

Cons Delayed receipt and processing: Delays in receiving and processing remittance advice can slow down the AR process, potentially impacting cash flow and financial planning. Data entry errors: Manual data entry of remittance advice increases the risk of errors, which can lead to misapplied payments and discrepancies in financial records.

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PYMNTS

JULY 21, 2017

“A lot of suppliers say they like the feel of the paper in their hand, they like to get the physical remittance data attached to that check — even though you can still get that data in other ways, including with ACH,” Martin explained. “But a lot of suppliers are what we consider old school.

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