{"id":3416,"date":"2018-02-13T18:25:45","date_gmt":"2018-02-13T18:25:45","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3416"},"modified":"2022-09-06T18:15:32","modified_gmt":"2022-09-06T18:15:32","slug":"mandating-electronic-payments-to-suppliers","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2018\/02\/mandating-electronic-payments-to-suppliers\/","title":{"rendered":"Mandating Electronic Payments to Suppliers"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

Since the 1980s, when considering improvements to the Accounts Payable process<\/a>, companies around the world successfully deployed solutions that evaluate Accounts Payable as one component of the Procure-to-Pay process. This yielded improved efficiencies between functional areas and often eliminated the need for invoices entirely with pay-on-receipt processes.\u00a0 However, when it comes to making the payment, while the global norm is 100% electronic, for many in the United States printing and mailing paper checks continues as a common method for how payments are processed.<\/span><\/p>\n

iPollingTM<\/sup> Results Review<\/strong><\/span><\/p>\n

Recently, Peeriosity\u2019s iPollingTM<\/sup> technology was used to better understand the performance of member companies in making electronic payments, and what approaches were used to increase the percentage of electronic payments<\/a> made. \u00a0While year-to-year progress has been made by member companies, only 30% of reporting companies have more than 80% of their U.S. payments made electronically, with 22% of the companies at less than 50%.\u00a0 Here are the details:\u00a0<\/span><\/p>\n

\"iPolling:<\/p>\n

While the eventual benefit may be significant to both the company and the supplier, only 44% of companies have some type of mandate in place, with 56% of the companies reporting that they do not have any type of mandate to require electronic payments.<\/span><\/p>\n

\"iPolling:<\/p>\n

Here are a few of the comments from Peeriosity members related to this poll:<\/span><\/p>\n