Scott Songer

Recent Posts

4 Supplier Enablement Strategies for Efficient B2B Payments

Posted on Sep 14, 2017 2:27:45 PM by Scott Songer

At this time of year, with the lazy days of summer over and busy autumn in full swing, it feels like we're all looking for tactics that will make us more effective and efficient at work and at home. What's one of the best ways to introduce more efficiency in your work life? Getting all your vendors to join your electronic payments system. is a great way to ensure a lifetime of efficient B2B payments. Consolidated electronic payments ensure efficient B2B payments, making them more secure and easier to track. When everyone is on the same page, transactions flow smoothly. Standardizing your B2B payments via an electronic payments system is one of the most effective supplier enablement strategies your business can adopt, for both your sake and that of your vendors.

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Topics: Supplier Enablement

How to Unlock the Biggest Benefits of Electronic Payments

Posted on Aug 10, 2017 10:08:08 AM by Scott Songer

Though we’ve been talking about it plenty, I'll say it again: You can streamline your payments and make them more secure. It’s not hard to do. The benefits of electronic payments are almost too numerous to list in a single article. They include efficiency, security, and convenience. Electronic payments eliminate paper trails and help fortify your accounts payable practice against thieves and hackers. All these benefits make an electronic payments system well worth the initial investment of time and money. The sooner you make the jump, the sooner you will be able to enjoy easy interactions with your vendors as well as more available time in your work schedule.

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Topics: Virtual Payments

The Bank of the Future: Virtual Reality, Voice Recognition and AI

Posted on Jun 29, 2017 8:26:00 AM by Scott Songer

The bank of the future will look nothing like the standard brick-and-mortar bank with which you grew up. In fact, the bank of the future will be entirely virtual. As banks look to become more lean, and as patrons seek more efficient ways to bank, the bank of the future will answer the call in exciting ways. Here’s how banks plan to innovate in the years ahead:

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Topics: Payment Cards, Virtual Payments, Banking

A Worthy Solution: Electronic Payments for Higher Education

Posted on Jun 15, 2017 8:14:00 AM by Scott Songer

Just as they’ve permeated other sectors, electronic payments will likely soon be the norm for centers of higher education. Paperless payments grant these institutions the ability to make their B2B payments efficiently and with increased security, offering a large range of benefits to both schools and their vendors.

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Topics: Virtual Payments, Education

Beyond Appeal: The Benefits of Virtual Card Payments for Regional Banks

Posted on May 11, 2017 10:14:47 AM by Scott Songer

The benefits of card-based virtual payments for regional banks are too good to be ignored: Super-secure, ultra-convenient virtual cards benefits businesses, banks and customers alike. Virtual payments furnish a host of benefits to regional banksthat enable them not only to survive competition with big banks but even to compete as equals in the field. A few of these key benefits:

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Topics: Agent Banking

The Future is Now: 4 Exciting Payment Card Innovations

Posted on May 2, 2017 8:32:00 AM by Scott Songer

The development of digital payment processing has been one of the key innovations brought on by the internet. Thanks to this evolution, users can pay their bills in a far more timely and efficient manner. Now, a new generation of payment card innovations is changing the way that we do business online:

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Topics: Virtual Payments

Too Small For Commercial Card Products? No Such Thing.

Posted on Mar 9, 2017 7:23:00 AM by Scott Songer

Think your bank is too small to offer commerial card products, including virtual card? Think again.

It's no secret that commercial cards are big cash management drivers for large national banks. More than 70% of businesses now use commercial cards for B2B payments, and that number is expected to grow by double digits in coming years. With that growth in use comes a growth in spending – and increased revenue opportunities for banks that offer commercial card products, including virtual card, to their customers.

But a bank doesn't have to be a huge national concern to take advantage of the growth opportunity afforded by commercial cards. New technologies, evolving commercial card products, and multiple points of entry to the commercial card market now help to make it easier and more financially rewarding for regional banks to become commercial card issuers.

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Topics: Agent Banking, Commercial Cards, Virtual Payments, Regional Banking

Amex Walks Away From Enterprise B2B: How Specialists Win in Business

Posted on Feb 23, 2017 8:49:00 AM by Scott Songer
 
When  American Express decided to dismantle its enterprise growth division last year ( http://www.pymnts.com/news/payment-methods/2016/amex-finds-serve-no-longer-serves ), the news was a surprise to many in the sector. With the benefit of a year's worth of hindsight, though, we can say that what seemed like a puzzling decision at the time was actually quite logical. Why? Amex is a specialist and specialists win in most facets of life, as in business. 

Amex is arguably the leading monoline issuer in credit card history. Former parent to card processing giant First Data, Amex helped reshape the consumer loyalty and T&E card markets. Does Amex have a portfolio weakness? Yes, its B2B enterprise sales.
 
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Topics: B2B Innovation

Cutting Costs, Boosting Security: 4 Ways Ecommerce Wins with Virtual Card

Posted on Jan 31, 2017 7:00:00 AM by Scott Songer

A recent article on PYMNTS.com highlighted how payment security concerns have helped fuel the explosive growth of virtual cards in the travel vertical. Over the last fifteen years, online travel agencies (OTA's) like Expedia and Orbitz have revolutionized travel planning by empowering consumers - and, increasingly, small to midsize companies - to book an entire suite of travel services at the click of a button. The ability to make airline, hotel, car, and even activity reservations without having to pick up a phone or visit a host of different sites is tremendously appealing to many leisure and business travelers.

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Topics: Payment Cards, Payment Fraud, security, Rebates, Ecommerce

7 Out-of-the-Box Ways to Celebrate Your Amazing AP Team

Posted on Oct 6, 2016 7:30:00 AM by Scott Songer

You know how hard your accounts payable staff members work all year round. AP professionals navigate relationships with dozens if not hundreds of suppliers and employees of your own organization to ensure timely, correct payment of expenses, while helping to contain costs and remaining vigilant to fraud. 

Now is the time to really celebrate the vital work of these essential personnel: AP Recognition Week is October 10-14, 2016. If you're looking for unusual, un-cheesy and un-tired ways to recognize your team this coming week - and throughout the year - here are seven:

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Topics: Virtual Payments, AP Recognition Week