According to an Ardent Partners ’ Performance Benchmark , only

The power of e-payments E-payments , or electronic payments , complement e-invoicing by providing a digital method for transferring funds . This system further enhances the efficiency of the procurement process . Benefits of e-payments

• Speed and convenience : E-payments allow for near-instantaneous transfer of funds , eliminating delays associated with traditional payment methods like checks .

• Reduced processing costs : By automating the payment process , businesses can significantly reduce the costs associated with manual payment processing , including labour and materials .

of invoices on average pass through finance teams without requiring manual intervention on average

• Enhanced security : E-payment systems often incorporate advanced security measures , reducing the risk of fraud and unauthorised access to sensitive financial information .

• Improved cash flow management : The speed and accuracy of e-payments allow businesses to manage their cash flow more effectively , making more informed financial decisions .

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