In a recent article with Payments Dive, Paymerang CEO Nasser Chanda discussed the urgency of automating administrative offices, specifically payments, in a post pandemic world where business continuity is the key to success.
“When the COVID-19 pandemic shifted work to employees’ homes, businesses realized they needed a different solution for their check-cutting operations. There is a seemingly sleepy corner of the payments sphere that woke up with a jolt when the COVID-19 pandemic struck” said Lynne Marek, Payments Dive Senior Editor.
Most businesses have an antiquated accounts payable process; manually signing checks, stuffing envelopes, and reconciling. Those organizations had a rude awakening when their manual processes could not be performed from someone’s home due to the pandemic restrictions.
“Companies could no longer go into their offices to cut checks,” Chanda said in explaining the increase in demand for such services.
In the future, Chanda expects a natural extension for Paymerang would be in providing automated receivables services to the hundreds of thousands of vendors that it’s currently making payments to as it processes invoices for its business customers.
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