Fintech is a term used to describe the intersection of finance and technology. It refers to companies that use technology to provide financial services and products in innovative and more efficient ways. It is also described any business that uses technology to...

Hunting down customer payments isn’t the most practical approach to debt collection. Collection pursuit takes a lot of time and resources. Moreover, these efforts may negatively impact a company’s relationship with its clients. No one relishes being called out and...

According to a recent study by Tally Street, 57% of B2B payments were collected late by small to medium-sized businesses in the United States in 2020. The study also found that the average proportion of overdue invoices increased to 50%, up from 43% in the previous...

B2B payment portals are online platforms that enable businesses to manage their payments and transactions with other businesses digitally. Depending on the specific platform and breadth of features offered, portals provide a secure and efficient way for businesses to...

DSO (Days Sales Outstanding) is a financial metric measuring the average number of days it takes for a company to collect payment owed after a sale has been made. A high DSO can have a significant impact on cash flow as it means that a company is waiting longer to...

Payment acceptance in the B2B space gives businesses several options to choose from. Two of todays most popular payment methods are eChecks and credit cards. While credit cards have been the most commonly used as a go-to payment method for many years, eChecks have...

Electronic checks, also known as eChecks, are a digital version of traditional paper checks. They are becoming increasingly popular as a secure, familiar and convenient way to make payments online. Here's a primer on what you need to know about electronic checks: How...

The Cash Flow Statement (CFS), also known as a Statement of Cash Flows, is one of the main reports in your financial statements documenting the total amount of cash and cash equivalents your business received and used during a specified period. It highlights changes...

The conventional approach to accounts receivable has been to manually generate invoices from accounting software or even Microsoft Excel spreadsheets in batches, sometimes daily. These invoices would then be printed and posted or, in more recent times, may have been...

Cash flow is the movement of money in and out of a company. An organization’s cash flow is typically categorized as cash flows from operations, investing, and financing. Cash flow remains a vital aspect of running a successful SMB, and poor management of it is a...

Level 3 processing is utilized in B2B and B2G transactions to help secure lower interchange rates and monitor spending. It involves the input of additional data through extra line-item details outlining the nature of each transaction for both the business and credit...

Businesses are more likely to experience fraud on their account when their physical credit card is used in many places. It can also be an administrative nuisance to have to redistribute physical card information to recurring merchants and vendors following fraudulent...

As a business owner, knowing the basics of payments processing can help you make more informed decisions as you better understand the differences between various credit card processing providers. With so many ways to accept payments, it’s important to have the right...

Key to success of the AR process is for businesses to set clear and realistic expectations for managing this cycle. For example, the average payment cycle in the US is 31 days, with larger companies taking 1 ½ to 2 times longer. As a result, businesses must carefully...

Every business owner needs to know about payment processing terms and concepts. Here are five payment processing terms and definitions to help you crack the code! Batch When you have multiple transactions that need to be processed, they are bundled together and...

Virtual credit cards are randomly generated digitized 16-digit numbers used in place of a physical credit card. Thanks to tokenization and spend controls, virtual credit cards are one of the most secure payment options for business buyers. A study by Juniper Research...

ACCOUNTS RECEIVABLE Accounts receivable departments are responsible for managing the movement of revenue by way of the invoicing and collection process.  Beginning at credit application through to invoice processing, follow-up, and late payment collection, the purpose...

Level 3 credit card processing is probably one of the best-kept secrets of the credit card processing industry for customers performing Business to Business (B2B) or Business to Government (B2G) transactions. Simply put, Level 3 payment processing is an advanced form...

No longer just a customer convenience, offering credit card payments has quickly become a business requirement in accounts receivable for SMEs, medium and large-sized enterprises. Considering this growth in B2B card payments, it’s important to review what rates you...