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Companies That Don’t Modernize Payments Risk Being Left Behind

4 things treasury should be doing to bring payment processes into the digital age.

By Jeffrey Horowitz & Carl Slabicki | June 06, 2019 at 01:26 PM

Corporate payments are at an inflection point. A combination of new market entrants and emerging technologies is creating disruption and driving change in the way organizations pay other organizations. Established banks have responded by innovating. Several new solutions, such as the RTP network from The Clearing House, are beginning to experience widespread adoption.

For businesses facing myriad payment pain points, new solutions can help provide quicker, more transparent, and more cost-effective ways to serve clients. That’s why many corporate finance executives have shifted their focus from considering what is possible to making concrete plans for what, when, and how to implement emerging payment technologies. This is one of many developments that we identified in the report “The Future of Payments—A Corporate Perspective.”

Here are four key considerations that corporate treasury teams should keep in mind as their organization moves toward payment modernization:

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