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Outlining the Overpayment Story Last week saw the Southern District of New York release their judgement on one of the largest payment errors in recent memory. Finance giant Citibank intended to pay $7.8 million in interest payments to a syndicate group of lenders. Accidentally, Citibank overpaid the group by almost 900 million dollars, an amount that nearly matched the full value on the loan.
Read more - Citibank’s $900 million dollar overpayment error
The Prompt Payment Code sets the standard in payment terms and is the driving force in bringing change in payment practices. In 2008, the ...
Read more - The Prompt Payment Code: 2021 updates
Your Master vendor file (MVF) exists in a constant state of change. Names, phone numbers, addresses, bank details and payment terms are not ...
Read more - 6 risks of working with a dirty Master Vendor File
Remote working has become the new normal for many P2P professionals, and it’s fair to say that working from home elicits mixed emotions. ...
Read more - What does Remote Working mean for Accounts Payable?
We spend a lot of time thinking about ‘Invoice Intelligence’. It’s a term we’ve thought up to describe the technology that sits right at ...
Read more - What is Invoice Intelligence?
Despite the marketing headlines, most – if not all – players in the duplicate invoice prevention market use rules-based tools to detect ...
Read more - Using AI to build world-leading duplicate invoice prevention software
For too long, Accounts Payable teams have relied on standard controls to spot risks and avoid costly payment errors. But these traditional ...
Read more - The problem with Accounts Payable – and how to fix it