Best practice and case studies for Finance, Shared Services and Indirect Tax professionals. Automation tips and strategies in our webinars, articles, events.

Optimizing Payment Process: 5 Key Elements to Tackle

{{article.author.firstname}} {{article.author.lastname}}
Sally Hardcastle
Jul 18, 2023
Electric number 5

CFOs need to be very clear about what payment optimization means in practice and what implementing a new payment process will mean for their organization. The focus should be squarely on consolidating and optimizing cash flow across the entire business so that:

  • All organization-wide cash-flows (payment runs and manual payments) are routed centrally through a payment hub
  • Communication with banks is controlled centrally
  • Foreign exchange costs are minimized by making all payments in a local currency. By doing so, cross-border payments are transformed into domestic payments
  • All payments are grouped or re-grouped effectively to optimize transaction value
  • Inter-company payments are performed without ph...

To read and download this content you need to be registered.

Become a member to access all content and / or download it

We value your privacy

We use cookies to enhance your browsing experience and analyze our traffic. By clicking 'Accept All' you consent to our use of cookies.