After being pretty staid for many years, the payment process is undergoing some serious changes. The evolution is absolutely amazing. This excerpt from a longer talk (link below), on the major trends sharing the future of payments, focuses on payment evolution and the way companies everywhere are using cards as part of their payment arsenal. During this fast-paced then minute session several common card and payment myths are smashed. Stick around until the end when we share insight on how accounts payable, or for that matter any accounting group, can get involved. #payments #accountspayable #accounting

Recognizing that factor, Jamie Radford, CEO of the Accounts Payable Association, a global organization headquartered in the UK, made sure to include payments as an issue discussed by industry experts as part of AP Appreciation Week. He invited Recharged Education’s Lynn Larson and AP Now’s Mary Scheffer to discuss several related probing payment issues. In this entertaining, yet informative discussion, the challenges and opportunities in the current payment architecture and what lessons can be drawn from Big Tech payment innovations are evaluated with a special focus on cards.

Future Forward Payments might have been another title for this talk.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to Playlist on Payments and Emerging Payment Issueshttps://youtube.com/playlist?list=PLtL6rWSXZ-HdD-bwCXumxMB64lRKVwm2h

Link to watch entire discussion on Accelerating Payments https://www.youtube.com/watch?v=0cs89y0twTs

Discussion Participants

Jamie Radford (https://ap-association.com/)

Lynn Larson (www.recharged-education.com)

Mary Schaeffer (www.ap-now.com )

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Learn more about AP Now at www.ap-now.com