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Payables Friction Index™

Why AP Innovation Stalls

An astounding number of firms (43.8 pct) still receive invoices using a technology that is 176 years old: fax machines. Even more get invoices via snail mail. So why are businesses drawing the short straw on innovations like eInvoicing and automated payables? For the new Payables Friction Index, PYMNTS surveyed 2,570 firms and outlined over 200 data points on their AP practices and most significant barriers to innovation. Here are the results.

Alt Lending

Accountants Say UK Bank Referral Scheme A 'Waste Of Money'

The U.K.'s Bank Referral Scheme has been marred by criticism and doubts since before it took effect in 2016. But after the Treasury released data on the Scheme's impact so far — considered lackluster by some — critiques are ramping up, with accountants now calling on the government to shut it down altogether.

Why Cross-Border Trade Is All About The Connections

For small exporters looking to take their first cross-border step, it's all about who (or what) you know. Finding the right corporate customers in new markets is the first hurdle, explains Robert Pelletier, Export Development Canada's U.S. chief representative. Then, it's about connecting both buyers and suppliers to capital, and connecting FIs to the right information to support global trade. Pelletier traces these steps and the challenges that emerge along the path of SMBs' cross-border growth.

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