Treasury Intelligence Solutions’ (TIS) Enterprise Payment Optimization (EPO) takes a vital process, removes its complexities, and improves visibility for every participant in the chain. Stating such a goal is simple. But, as TIS explains, delivering on such a message requires some rather special thinking.
Payments sit at the heart of every single business. In short, no payments: no business. If sub-optimal payments processing equates to sub-optimal business, it should follow that optimising payments processes leads to enhanced business performance. Yet the simple concept that if payments are better managed, then cash flow and liquidity are improved, remains one that many companies have yet to fully tackle.
One of the key reasons for hesitation is perhaps that making significant improvements in payments processing can prove challenging in practice. Many large companies have invested heavily in improving their inbound paymentsor collectionsprocesses in an attempt to accelerate cash inflows.
A multitude of products catering to the ‘inbound payments’ market is on offer, many based on account-to-account or card transactions, with value-added-services and enhancements such as the ‘buy-now-pay-later’. Yet this only tackles half the story.