New Payment World
A Manager′s Guide to Creating an Efficient Payment Process
In the past five years, the number of electronic payments that U.S. companies have made has doubled while the number of checks written has started to decline. With increasingly more vendors requiring their customers to pay electronically, corporations will be seeking guidance on the alternatives that are available to them. That guidance is here.
Holding conventional payment functions up to the light of day, New Payment World: A Manager′s Guide to Creating an Efficient Payment Process is a revolutionary guide to creating a successful electronic payments process for the modern corporation. Insightful and highly readable, its practical approach to the payment alternatives available to corporations provides an abundance of best practice ideas for accounting managers, auditors, and CFOs.
Written by esteemed author and accounting expert Mary Schaeffer, New Payment World begins with an eye–opening overview of how organizations of all types are paying their bills today and how they think they will be paying invoices five years from now. This guide covers a myriad of topics, including:
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International payments and letters of credit
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The underpinnings of the payment tools currently in use in business–to–business interactions
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An in–depth analysis of payment tools including paper checks, wire transfers and electronic data interchange, p?cards, e–payments, ACH credits and debits, and use of the petty cash box
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Outsourcing
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Sarbanes–Oxley and internal controls
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Check fraud: Prevention tools and techniques
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ACH fraud: Prevention tools and techniques
A thorough introduction to every aspect of the payment process, New Payment World is an authoritative guide filled with immediately useful advice to setting up the payment process that works best for your organization.
From the Back Cover
Praise for
New Payment World
A Manager′s Guide to Creating an Efficient Payment Process
“This book is …for every accounts payable manager as well as for those above them in the chain of command …I found New Payment World to be very thought–provoking. I believe that it can help you to evaluate what you are doing right or wrong, and help you to determine where changes might benefit your organization.”
Marie J. Misterka, Vice President, BNP Paribas
“Mary Schaeffer has written the definitive work on the whole range of corporate payment processes. From the challenges presented when managing check payments through the how to′s for setting up e–payments, Mary addresses each of their benefits and their potential pitfalls. This is a must–read book for every accounts payable professional.”
Bob Rayca, Vice President, InterplX Technologies
“Mary Schaeffer has done an outstanding job of putting together a concise, comprehensive, and well–organized guide to getting a handle on and planning for the future of the payment function. She identifies the problems, investigates and provides an in–depth analysis of the tools available, and makes recommendations on what to do to create an efficient and effective payment process.”
Kevin M. Moonan, COO and Managing Partner, Pinpoint Profit Recovery Services, Inc.
The payment process for your organization may not be very different today than it was five or ten years ago. But here′s a guarantee: it will be enormously different and much more cost–effective five or ten years from now. Don′t get left behind New Payment World: A Manager′s Guide to Creating an Efficient Payment Process can get your organization up to speed to be part of the payment revolution that has already started.
About the Author
Mary S. Schaeffer is a nationally recognized accounts payable expert. She is the founder and Editorial Director of Accounts Payable Now and Tomorrow, a newsletter for professionals interested in payment issues. She is the author of twelve books and has written hundreds of articles that have appeared in publications such as the New York Times, Corporate Cashflow, Treasury and Risk Management, Business Credit, the Writer, and Newsday. She has an MBA in finance and is a member of the New York Financial Writers′ Association.
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