In order to thrive in this intricate financial ecosystem, organizations need to embrace a holistic approach for conducting business, where A/P, A/R, trade finance and global payments are functionally integrated.
Contemporary business management has grown more and more complex as organizational objectives and goals evolve. Back-office and traditional functions that were once considered simple “costs of conducting business” now hold true strategic value. The aspects of the modern “financial ecosystem,” which integrates attributes related to accounts payable, accounts receivable, trade finance and global payment management, can drive operational efficiencies when supported and managed by effective capabilities and competencies. The average organization, focused on driving down operational costs related to invoice-processing and settlement, as well as improving visibility into corporate cash flow, can benefit from proficient management of this ecosystem.