New Payment World
A Manager’s Guide to Creating an Efficient Payment Process
 

By Mary S. Schaeffer

Check writing is declining while at the same time electronic payments are on the rise. As the business world moves from a paper to digital environment, managers, auditors and CFO’s need to get up to speed on this topic. The paper world exposed organizations to increased risks through check fraud, rising costs, inefficient processes, and demands from vendors. New Payment World starts with an overview of how organizations are paying their bills today. Part Two covers payment tools starting with a discussion of problems caused by paper checks followed by EDI, P-cards, E-Payments and more. Part Three presents initiatives to make the payment process more efficient. There are tips and guidance for starting and expanding programs for P-cards, E-Payments, as well as integrated payments and outsourcing. Auditors will definitely appreciate the chapters on prevention tools and techniques for check and ACH fraud.