Chad Clay

Recent Posts

Is Fraud Inevitable With Automated Payments?

Posted on Oct 25, 2018 10:03:00 AM by Chad Clay

Payment Fraud Continues to Grow

The Association for Financial Professionals recently released the findings of their 2018 AFP Payments Fraud Survey, and the numbers were pretty startling: 78% of respondents reported that their companies had been victims of payments fraud in 2017, up from less than 75% the year before. The good news is that check fraud decreased slightly from 2016, but ACH fraud continued to be high, both for debit and for credit payments. A major source of this fraud is business email compromise, or BEC. It's clear that electronic payments are here for the long term, so what can users do to fight risk and ensure the security of their funds? Is fraud inevitable with automated payments?

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Topics: Payment Fraud, security

How to Evaluate An Electronic Accounts Payable Provider [CHECKLIST]

Posted on Jul 12, 2018 10:26:15 AM by Chad Clay

In the past few years, the industry has exploded with automated electronic accounts payable solutions. While it’s good to have options, sometimes sifting through all of those providers can be daunting. How do you know which provider offers the accounts payable solution that’s best for your organization? Where do you start? What questions do you ask? Here’s a checklist to help you get started.

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Topics: Accounts Payable, Electronic Invoicing

Your Best Accounts Payable Team: How to Measure and Reward AP Performance

Posted on Jun 7, 2018 2:26:17 PM by Chad Clay

Performance appraisals. They’re a necessary component of measuring your team’s work, both individually and collectively. And while setting goals and monitoring performance is often stressful for both managers and their employees, focusing on a few key areas can help smooth the overall process. For accounts payable team members, it’s important to ensure that their goals are tied to three elements of a successful accounts payable department: accuracy, efficiency and adaptability. Here's how to evaluate, encourage and reward the performance of your AP team in these three areas:

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Topics: Accounts Payable

4 Tips for Data Security in Our Electronic Payments World

Posted on May 11, 2018 10:52:05 AM by Chad Clay

Data security for electronic payments is serious business in the world of B2B transactions. According to Infosecurity Magazine, close to 1.4 billion records were compromised in data breaches between January 1 and March 31 of 2018. Happily, these numbers - while still staggering - actually represent a significant decline from Q1 of 2017, which saw 1,442 incidents exposing 3.4 billion records. Here are four ways to make sure that downward trend in data security incidents applies to the electronic payments you make to your vendors:  

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Topics: security, Payment Fraud, SUGA

3 Ways to Optimize Supplier Enablement For Higher Education

Posted on Apr 12, 2018 11:46:42 AM by Chad Clay

As a university accounts payable professional, you know that supplier enablement - or electronically connecting your vendors to your supply chain - in higher education is incredibly important. You need to keep things organized and in good standing with your suppliers so that you can keep their services flowing. Here's an overview of three simple strategies to optimize your supplier enablement for more efficient AP.

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Topics: Education, Virtual Payments

The Basics of Virtual Card Payments Technology [INFOGRAPHIC]

Posted on Mar 15, 2018 11:39:10 AM by Chad Clay

If you're like most professionals who are responsible for making payments for a corporate or nonprofit organization, you're continually seeking to maximize efficiency and minimize the cost of doing business. Virtual card technology does both, offering the opportunity to turn a manually intensive operating expense into an automated process that actually generates revenue for your organization.

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Topics: Payment Cards, Commercial Cards, Electronic Invoicing, Virtual Payments

Better Than a Valentine: Virtual Card Delivers Sweet Rewards

Posted on Feb 15, 2018 1:03:00 PM by Chad Clay


Every quarter, we send a little valentine to each of our customers: a rebate check that pays them back for using virtual cards to pay their suppliers. Last week, we were thrilled to send our clients their checks for the most recent quarter - a valentine that keeps on giving.

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Topics: Nonprofit Organizations, Kontrol

How Virtual Card Payments Could Eliminate Your 1099 Hassle

Posted on Feb 1, 2018 1:00:00 PM by Chad Clay

It's the first day of February; do you know where your 1099 forms are? If your organization is on top of things, your 1099s were issued to your service vendors and filed with the IRS long before the January 31 deadline. But if they weren't, or you're still recovering from the painful experience of tracking down all your applicable vendor payments, take heart: Next year, virtual card payments could eliminate your 1099 hassle.

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Topics: Virtual Payments, Payment Cards, Taxes

New Year, New B2B Payments Process?

Posted on Jan 4, 2018 1:27:08 PM by Chad Clay

We don't know about you, but after the excesses of the holiday season, those gym membership promotions that are everywhere right now start looking really appealing.

The problem with those introductory gym membership rates, of course - aside from any lack of willpower on the part of the new member - is that they're meant to lure you in, get you hooked on their classes/saunas/smoothies, and then charge you a considerably higher rate once you've decided you can't live without them. Wouldn't it be great if instead of raising the price once you were in, your gym rewarded you for your commitment to physical fitness by paying YOU? 

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Topics: Virtual Payments

Don't Make This the Most Wonderful Time of the Year for Cyber-Thieves

Posted on Dec 7, 2017 12:05:00 PM by Chad Clay

Ah, the holidays: It's the most wonderful time of year - especially for cyber-thieves. In a season when many of us are spending a lot of time (and money) shopping, the convenience of credit cards is tempered by fears about payment security, especially when buying online. The rolling data breaches that have affected major retailers and apps like Uber that are heavily used during the holidays are Grinch-y reminders that easy payment forms can also be easily compromised. But as banks, retailers and Silicon Valley continue to seek consumer credit card security solutions, it's hugely reassuring to know that the Accounts Payable community is actually ahead of the curve in terms of protected payments.

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Topics: Payment Fraud, Payment Cards, security