Overcoming Top Challenges in AP Payments with Finexio’s Partner-Driven Solutions

As the B2B payment ecosystem advances, Accounts Payable (AP) functions are increasingly central to cash flow management, vendor relationships, and operational efficiency. However, persistent obstacles like late payments, fraud, and high processing costs continue to hinder AP departments, creating both risks and missed opportunities. Finexio partners are uniquely positioned to address these challenges, equipping businesses with scalable, secure, and integrated AP automation solutions that redefine how companies approach AP. Here, we explore the top AP challenges and how Finexio’s solutions empower partners to help clients overcome these barriers effectively.

1. Late Payments and Missed Deadlines

Challenge: Nearly 43% of U.S. businesses experience issues with late payments, which can lead to strained vendor relationships, costly fees, and a loss of early payment discounts.¹ Common causes of delays include manual processing and approval bottlenecks that restrict visibility into payment schedules.

Finexio Solution: By embedding Finexio’s AP automation within ERP systems, partners enable AP teams to streamline approvals and trigger reminders for impending payments. As a result, businesses experience up to a 65% reduction in approval times,² ensuring timely payments that foster vendor trust and open opportunities for cost-saving discounts.

2. Increasing Security Amid Rising Fraud Risks

Challenge: With 81% of companies reporting instances of payment fraud, AP security is more essential than ever.³ Manual processes, particularly those involving paper checks, create vulnerabilities that expose AP departments to unauthorized diversions, making fraud prevention a high priority for finance teams.

Finexio Solution: Finexio’s AP platform brings an integrated, multi-layered approach to security. By incorporating multi-factor authentication, role-based access, and digital payment options like ACH and virtual cards, partners help clients reduce fraud exposure by up to 72%.⁴ This level of security empowers businesses to protect their transactions with a solution designed for today’s digital demands.

3. Reducing High Processing Costs through Automation

Challenge: AP teams incur processing costs ranging from $12 to $20 per invoice when operating manually.⁵ This inefficiency not only impacts profitability but also slows down operational scalability, as staff are consumed with tasks like data entry and check writing.

Finexio Solution: Finexio’s AP automation platform eliminates repetitive manual processes by automating data capture, invoice matching, and approvals. Our partners report that clients achieve up to 70% cost savings per invoice.⁶ This reduction frees AP resources for more strategic financial planning, allowing companies to focus on growth rather than transactional upkeep.

4. Enhancing Visibility for Better Cash Flow Management

Challenge: In more than 58% of AP departments, limited visibility into payment status and cash flow metrics creates unnecessary delays and challenges in financial planning.⁷ Manual tracking and reporting slow down decision-making, resulting in missed payments and weakened vendor relationships.

Finexio Solution: With Finexio’s advanced tracking and analytics tools, AP teams gain real-time insights into cash flow and payment approvals. Our partners provide clients with the tools to improve vendor satisfaction by 35% and increase their capture of early payment discounts.⁸ This visibility helps AP teams manage cash flow effectively, contributing to a stronger, more informed financial operation.

5. Scaling to Handle High Invoice Volumes

Challenge: Businesses often process between 500 and 2,000 invoices monthly, a workload that grows with scale.⁹ Manual processing in such high volumes increases error rates and slows down payment cycles, making it challenging to maintain operational efficiency.

Finexio Solution: Through Optical Character Recognition (OCR) and automated workflows, Finexio’s AP platform accelerates data capture and approval processes. By enabling AP teams to cut manual entry times by up to 80%,¹⁰ partners allow clients to handle higher invoice volumes with fewer errors, ensuring that growth and accuracy go hand in hand.

Leading the Future of AP Payments with Finexio

In today’s AP landscape, Finexio’s embedded AP automation platform is a critical tool for businesses seeking to streamline their AP processes, enhance security, and optimize cash flow. For partners, working with Finexio means delivering forward-thinking solutions that empower clients to stay ahead of industry challenges, create new efficiencies, and drive scalable growth.

Explore how Finexio can transform your AP operations. Visit https://www.finexio.com/partners to connect and learn more about joining the future of B2B payments with Finexio’s partner-driven innovation.

Footnotes

1. National Federation of Independent Business. "Business Optimism and Challenges Report." NFIB, 2023. https://www.nfib.com/research/reports/business-optimism-index/ 
2. Ardent Partners. "The State of ePayables 2022: Smart Automation for the Modern Age." Ardent Partners, 2022. https://www.ardentpartners.com/research/ 
3. Association for Financial Professionals. "Payments Fraud and Control Survey." AFP, 2023. https://www.afponline.org/ideas-inspiration/topics/articles/Details/2023-payments-fraud-control-report 
4. AFP Payments Fraud Survey. "Impact of Digital Payment Methods on Fraud Prevention." AFP, 2023. https://www.afponline.org/publications-data-tools/reports/survey-research/Details/2023-payments-fraud-control-report 
5. Ardent Partners. "The State of ePayables 2023: Leveraging Automation in AP." Ardent Partners, 2023. https://www.ardentpartners.com/research/ 
6. APQC. "Automation's Impact on Invoice Processing Costs." APQC, 2023. https://www.apqc.org/research 
7. Deloitte Insights. "AP Automation: Unlocking Cash Flow Visibility." Deloitte Global Survey, 2023. https://www2.deloitte.com/global/en/pages/finance/articles/ap-automation.html 
8. Deloitte Insights. "Vendor Satisfaction and Early Payment Discounts in AP." Deloitte Insights, 2023. https://www2.deloitte.com/global/en/pages/finance/articles/ap-automation.html 
9. PYMNTS.com. "Invoice Management and Processing Volumes in U.S. Businesses." PYMNTS.com, 2024. https://www.pymnts.com/invoice-management/ 
10. PYMNTS.com. "Automation Reduces Invoice Processing Times." PYMNTS.com, 2023. https://www.pymnts.com/invoice-management/ 

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