Summary: Dr. Alfonso Cahero, Chairman, Founder and CEO at Cahero Holding, spoke about Payments Automation the Time for Change.
Dr. Alfonso Cahero is the Chairman & Founder of Cahero Holding. He has a Ph.D. in Economics and Finance specializing in Banking, Corporate, Finance, and Securities Law, a Specialization in Financial Technology, and a Ph.D. Architecture and Engineering.
By automating payments, previously siloed processes like accounting and payroll payments can be integrated, boosting productivity and performance.
In addition to protecting against fraud, enterprises that use technology to automate payments can also ensure compliance with a variety of regulatory mandates.
In a modern, mobile, digitally driven economy, flexible automated payment platforms also make the most sense.
Efficiency: How payments automation can increase business efficiency
- Productivity Boost
- Error Reductions
- Consolidated Payments Platform
- Payment Channel Savings
There are clear benefits in adopting an automated and proven methodology for volume payments that can be scheduled in advance while minimizing processing and administrative overheads.
Improved visibility should extend along the payments chain, incorporating the full invoice processing lifecycle.
Tackling Fraud: Identifying vulnerabilities and protecting your business
- The Real Danger
Financial Visibility: Consolidated insight and flexible control
Insight benefits span a range of additional advantages, such as the ability to foresee and exploit early payment discounts.
A standard 2% discount for a 10-day settlement can translate into a risk-free return on cash of up to 36% – a rate that should be of interest to all businesses
Cloud-based solutions provide real-time track and trace status updates for all types of mission-critical documents such as invoices, purchase orders and cheques.
This ensures full visibility of how recipients interact with transactional documents. Documents can be easily accessible in the cloud which increases the speed with which transactional disputes can be settled.
Regulation & Compliance: Turning obligation into opportunity
As a wide range of new regulatory obligations threatens to impact the payment systems and reporting obligations of businesses, they should plan to address these challenges and assess the changes required to ensure compliance and avoid penalties.
These will cover technical and procedural compliance, payments system-level security, invoicing processes, and potentially customer screening and validation.
The Digital Economy: Meeting digital expectations
- Paradigm Shift
- The Digital Economy Summary
The Business Case for Change
This highlights several ways that businesses can gain a significant efficiency boost through streamlining and automating current payments processes.
Major benefits include:
- Boost staff productivity, freeing up resources for more effect and profitable deployment
- Reduced errors and increased anti-fraud protection
- Access to a full range of payment options – improving service levels and lowering payment charges
- Consolidated account visibility – greater ability to manage cash flow
- Compliance assurance – whether Open Banking, PSD2, KYC screening, late payment compliance, or audit and reporting obligations
- Ability to meet evolving demands of a modern digital economy, with expectations of 24/7 availability and payments confirmation