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  1. Surveys
  2. 2016
  3. June
  4. C
  5. Corporate Payments Management 2016
0%
Exit Survey
 
 
Thank you for taking our annual Corporate Payment Management Survey! For your much-appreciated participation, we will provide you with a Starbucks gift card. Before we begin, we need to ask you a few demographics questions. Please keep in mind, all identifying information provided will be kept completely anonymous and not shared with any third party. Thanks!
 
 
 
 
* Please select your organization's annual revenue range:
 
Below $300 Million
 
$300 Million to $2 Billion
 
Above $2 Billion
 
 
 
* How familiar are you with your organization’s payment management process?
 
Very familiar, I make decisions that affect our disbursement processes and procedures
 
Very familiar, I am involved in our organization's disbursement processes and procedures, though I don't make the big decisions
 
I am not very involved in our disbursements/payments process
 
 
 
Section 1 of 3
 
 
 
* Please input your organization's annual spend in millions of dollars (for example, for 500 million, simply type "500", for 50 billion you would put "50000")
   
 
 
 
* What is your average monthly invoice volume? (example: for 5,000 invoices per month, simply put "5000")
   
 
 
 
* What is your average monthly payment volume? (example: for 5,000 payments per month, simply put "5000")
   
 
 
Please use the slider to select what percentage of your payments are made to suppliers outside the United States:
* Payments Outside the US
-
 
 
 
* Please allocate 100 percentage points to the use of the following payment methods in your organization (based on volume of payments):
Check
ACH
Traditional p-card, one card, or ghost card
Virtual Accounts, payment portals, or outsourced payment services
Wires
Foreign Exchange (FX)
0
Values must add up to 100
 
 
 
The following question asks about the payment technologies below. Because they are often known by their brand name, we have provided examples of each:
 
 
 
Virtual Account solutions
Examples include: MasterCard “ePayables”, JPM “Single-use accounts”, Bank of America “ShopSafe”, American Express V-Payment

Payment Management Solutions (a combination of outsourced payment management services usually combined along with a payment portal for buyers and suppliers to exchange remittance information)
Examples include: BaswarePay, ComData, NvoicePay, Cambridge, AvidPay, Tipalti, AribaPay

Dynamic Discounting Solutions
Examples include: Taulia, C2FO, Direct Insight, and Direct Commerce have solutions
 
 
 
* Please describe your organization’s use of the above financial automation technologies:
 
We are innovators among our peers, we use one or more of these technologies
 
We are on-par with our peers, we do not use any of the above technologies, but we have a corporate p-card program and/or outsource our check writing
 
We are novices in this area. We are still using mostly checks, we write them ourselves, and we do not utilize any of the above technologies
 
 
 
Group A: Section 2 of 3
 
 
 
* Before adopting payment automation technologies, which of the following pains did your AP department experience that led to this transition? (please select up to 3)
 
High processing costs
 
Loss from fraud
 
Duplicate payments
 
Late payments
 
Missed early-payment discounts
 
Lack of payment visibility
 
Employee confusion about the correct payment method to use
 
We used more than one payment method for some suppliers
 
Our supplier relationships suffered
 
Other
 

 
 
 
* Which of the following benefits have you achieved since implementing these payment technologies? (select all that apply)
 
Lower processing costs
 
Reduction in duplicate payments
 
Increased convenience for employees
 
Reduction in procure-to-pay cycle time
 
Increased discount capture
 
Reduction in maverick spend
 
Ability to negotiate better pricing with vendors
 
Rebates and incentives from p-card issuers
 
Float/ability to increase days payable outstanding (DPO)
 
Improved compliance with contracts/purchasing policies etc.
 
Increased compliance with with internal policies and regulations such as SOX
 
Other
 

 
 
 
* How long have you had these payment technologies?
 
Less than a year
 
1-3 years
 
3-6 years
 
6+ years
 
 
 
* In researching these technologies, where did you initially look for a solution? (select one)
 
Google / Internet Searches
 
AP / Payments / ERP conferences
 
Consultants / Accounting firms (KPMG, Accenture, PWC, Deloitte)
 
Industry Analyst firms (Gartner, Forrester, PayStream Advisors)
 
Our Bankers
 
Our ERP providers
 
Other
 
 
 
 
* From research to training, how long would you estimate the process took to implement your payments technologies? (select one)
 
Less than 6 months
 
6-12 months
 
13-18 months
 
More than 18 months
 
 
When researching this technology, who in your organization was responsible for researching the available technologies? (please input their title and department)
* Title : 
* Department : 
 
 
When choosing the best solution for your organization, who in your organization was ultimately responsible for making the final decision to proceed with adoption? (please input their department and title)
* Title : 
* Department : 
 
 
 
* What features do your current solutions not offer that you feel they should?
   
 
 
 
Group B: Section 2 of 3
 
 
 
* Which of the following pains does your AP department currently experience? (please select the top 3 or less)
 
High processing costs
 
Loss from fraud
 
Duplicate payments
 
Late payments
 
Missed early-payment discounts
 
Lack of payment visibility
 
Employee confusion about the correct payment method to use
 
We used more than one payment method for some suppliers
 
Our supplier relationships suffered
 
Other
 

 
 
 
* What payment-related goals is your organization currently focusing on in the next 12-18 months? (please select a max of 3)
 
Reduce overall payment costs (staff, processing etc.)
 
Ensure compliance with internal policies and regulations such as SOX
 
Reduce risk of payment fraud
 
Reduce duplicate payments
 
Reduce paper
 
Better cash management
 
Strengthen supplier relationships
 
Improve visibility into spend
 
Better audit capabilities
 
Reduction of invoice payment errors
 
Better utilization of technology
 
Obtain supplier early-payment discounts
 
Other
 

 
 
 
* Please select up to three reasons your organization has not focused on payment automation technologies.
 
Please select up to three reasons your organization has not focused on payment automation technologies.
 
Checks work well; no need to convert to electronic payments
 
Loss of check float
 
Inability to send or receive automated remittance information with electronic payments
 
Shortage of IT resources
 
Lack of integration between electronic payment and AP systems
 
Suppliers not willing to adopt electronic payments
 
No executive sponsorship; senior management not convinced of ROI
 
Supplier resistance to providing bank and account information
 
Unable to easily gather supplier information
 
Don’t know where to begin or how to understand which payment technology tool is most suited
 
We’re able to get most of our suppliers on cards, there would be no ROI for the additional cost
 
Other
 

 
 
 
* How long have you had your current payments technologies?
 
Less than a year
 
1-3 years
 
3-6 years
 
6+ years
 
 
 
* When researching new payment technologies, where do you initially look for a solution?
 
When researching new payment technologies, where do you initially look for a solution?
 
Google / Internet Searches
 
AP / Payments / ERP conferences
 
Consultants / Accounting firms (KPMG, Accenture, PWC, Deloitte)
 
Industry Analyst firms (Gartner, Forrester, PayStream Advisors)
 
Our Bankers
 
Our ERP providers
 
Other
 
 
 
When researching finance technology (A/P, Payments, etc.), who in your organization is responsible for researching the available technologies? (please input their title and department)
* Title : 
* Department : 
 
 
When choosing the best finance technologies for your organization, who in your organization is ultimately responsible for making the final decision to proceed with purchasing, implementation, or adoption? (please input their department and title)
* Title : 
* Department : 
 
 
 
* What do you feel is the most important functionality that a payments technology should feature?
   
 
 
 
Group C: Section 2 of 3
 
 
 
* Which of the following pains does your AP department currently experience? (please select the top 3 or less)
 
High processing costs
 
Loss from fraud
 
Duplicate payments
 
Late payments
 
Missed early-payment discounts
 
Lack of payment visibility
 
Employee confusion about the correct payment method to use
 
We used more than one payment method for some suppliers
 
Our supplier relationships suffered
 
Other
 

 
 
 
* What payment-related goals is your organization currently focusing on in the next 12-18 months? (please select a max of 3)
 
Reduce overall payment costs (staff, processing etc.)
 
Ensure compliance with internal policies and regulations such as SOX
 
Reduce risk of payment fraud
 
Reduce duplicate payments
 
Reduce paper
 
Better cash management
 
Strengthen supplier relationships
 
Improve visibility into spend
 
Better audit capabilities
 
Reduction of invoice payment errors
 
Better utilization of technology
 
Obtain supplier early-payment discounts
 
Other
 

 
 
 
* Please select up to three reasons your organization has not focused on payment automation technologies.
 
Checks work well; no need to convert to electronic payments
 
Loss of check float
 
Inability to send or receive automated remittance information with electronic payments
 
Shortage of IT resources
 
Lack of integration between electronic payment and AP systems
 
Suppliers not willing to adopt electronic payments
 
No executive sponsorship; senior management not convinced of ROI
 
Supplier resistance to providing bank and account information
 
Unable to easily gather supplier information
 
Don’t know where to begin or how to understand which payment technology tool is most suited
 
Other
 

 
 
 
* When researching new payment technologies, where do you initially look for a solution?
 
Google / Internet Searches
 
AP / Payments / ERP conferences
 
Consultants / Accounting firms (KPMG, Accenture, PWC, Deloitte)
 
Industry Analyst firms (Gartner, Forrester, PayStream Advisors)
 
Our Bankers
 
Our ERP providers
 
Other
 
 
 
When researching finance technology, who in your organization is responsible for researching available technologies? (please input their title and department)
* Title : 
* Department : 
 
 
When choosing the best finance technologies for your organization, who in your organization is ultimately responsible for making the final decision to proceed with purchasing, implementation, or adoption? (please input their department and title)
* Title : 
* Department : 
 
 
 
* What do you feel is the most important functionality that a payments technology should feature?
   
 
 
 
Section of 3 of 3
 
 
 
* Please select the standard industry that applies to your organization:
 
Accounting
 
Aerospace / Aviation / Automotive
 
Agriculture / Forestry / Fishing
 
Biotechnology
 
Business / Professional Services
 
Computers (Hardware, Desktop Software)
 
Communications
 
Consulting
 
Education
 
Engineering / Architecture / Construction
 
Entertainment / Recreation
 
Finance / Banking / Insurance
 
Food Service / Hospitality
 
Government / Military / Public Sector
 
Healthcare / Medical
 
Internet
 
Legal
 
Manufacturing
 
Marketing / Market Research / Public Relations
 
Media / Printing / Publishing
 
Non-Profit
 
Oil and Gas / Mining
 
Pharmaceutical / Chemical / Life Sciences
 
Research / Science
 
Real Estate
 
Retail
 
Telecommunications
 
Transportation / Distribution
 
Utilities
 
Wholesale
 
Other
 
 
 
Please input your title, department, and email. This information will be kept anonymous.
* Title : 
* Department : 
* Email Address : 
 
 
 
Last question: How did you hear about this survey?
 
PayStream email
 
LinkedIn
 
Twitter
 
Other