Generative AI is revolutionizing accounting and bookkeeping, moving away from manual data entry, general ledger (GL) coding, categorizing, and spreadsheets to a new standard of efficiency, accuracy, and comprehensive financial management.

Why has the PDF failed us?

AI through ChatGPT is disrupting many industries and jobs. The next AI breakthroughs will go beyond text and vision to unstructured and semi-structured documents, bringing benefits to B2B, industrial automation, and global commerce.

Real-time payments, also known as "instant payments" or "immediate payments," are a new type of payment system that allows for the near-instant transfer of funds between banks and other financial institutions. This technology is changing the way that people and businesses make and receive payments, offering faster, more convenient, and more secure options for moving money.

By 2027, it is expected that the global subscription and recurring payment market will be valued at $7.43 billion in the United States. A standing order is a recurring payment, a set of instructions placed by an account holder to their financial institution to pay a particular amount at certain intervals to another account. These instructions enable the retail financial institution to respond to the request of the biller, merchant or retailer on behalf of the account holder.

Joe Proto has joined Photon Commerce, a leading fintech provider of instant payments, payables, receivables, and artificial intelligence solutions, as an advisor.

The revolution in instant payments is at hand. See how it will impact you and your customer and supplier relationships.

Straight-Through Processing (STP) is an instant payment processing method that allows payments to be made in a single pass through the banking system. A straight-through payment does not require the banks on either side of the transaction to exchange any information, other than the amount, beneficiary, and account type. 

Remember life back in the 90s when every time we needed to connect to the “internet”, we had to wait for dial up?

Well, the infrastructure for payments in the US is even more antiquated than that. Little has changed since the last time ACH was invented in 1978. Waiting around for an ACH payment still can take days.

Imagine if connecting to the internet was only possible two times a day, and not on weekends.

Thankfully, after 40 years things are finally changing with the advent of Real-Time Payments (RTP). Here’s what you need to know about the radically new payments infrastructure.

The pandemic has set a record for 57% of SMB B2B payments being collected late in 2020.

With payment delays exceeding the typical 30-day payment periods, businesses are left with missing money from their accounts over lengthy spans of time. Invoice factoring is an attractive option that can help businesses unlock cash flow while waiting for payments while also adding a layer of financial security in these uncertain times.

Strategic advantages of Procure-To-Pay (P2P) automation will enhance the performance of your business, including one main benefit - increased profits and an overall healthier bottom line.

Historically, Accounts Payable has been regarded as a back end function to a business, primarily set in the ways of very manual methods of processing supplier invoices.

Recent years have called for huge changes in AP functions, and there have been some game-changing innovations leading the way for companies to completely overhaul the way they do business.

Automation, APIs, and machine learning at last bridge Accounts Payable and Accounts Receivable together. The future of AP and AR is invisible, embedded, and automated.

Our team at Photon Commerce has been hard at work for years incubating machine learning algorithms and massive datasets that unlock trillions of dollars of in global commerce and B2B purchases.

Card companies are evolving into one-stop expense management platforms, competing for the centralized finance space. 

B2B payment defaults have increased 72% year-on-year in the US, according to the United States-Mexico-Canada Payments Practices Barometer.