With the right technology and a partner that leverages mature digital tools, AP teams can ensure that efforts and focus are shiſted from routine tasks to value-adding, strategic activities. Meeting the technology needs of Accounts Payable through a cost-effective approach to automation allows staff to adapt to the CFO’s strategy and financial objectives, strengthens fraud risk management and supply chains, and improves AP team job satisfaction, morale and skill retention.
With this balance of tactical and strategic goals, Bank of America has created a comprehensive payment platform to help Accounts Payable teams leverage our technology and relationships. Our platform combines a network of over 1.3 million suppliers, so AP teams can hit the ground running with supplier connection, security and automation.
Bank of America’s single-platform payment and single-portal sign-on ensure consistency and integration. Our capabilities include a continued investment in payment mechanisms, automation of supplier communication and onboarding, industry-leading fraud protection, and dedicated support teams to drive virtual card and ACH supplier enrollment campaigns to reduce reliance on checks.
At Bank of America, we understand the challenge of balancing CFO dreams with the day-to-day needs of Accounts Payable. Speak to your Bank of America relationship manager today to understand how our comprehensive payables solutions can help your team look beyond efficiency to the value-added services that hit the mark for CFOs.