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Tuesday November 09, 10:15
US firms turn to electronic transactions

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US firms turn to electronic transactions (by Mark Riley)

US firms are expected to turn to electronic transactions by 2007, specialists say.

New survey by the AFP showed 75% of B2B payments to be made by paper check, though with shifting paradigm to electronic payments as 28% of respondents are sure to turn to electronic payments in three years and about 50% will do that “somewhat likely.”

Firms with medium capitalization are more likely to turn to e-payments, large-caps will probably integrate their accounts payable and receivable systems.

28% of respondents expect their organizations to buy software or use a third-party service to integrate accounting and e-payment systems; 18% plan to install software to link their financial systems with those of suppliers or customers; 28% will use check imaging and exchange for payment clearing and settlement, AFP survey shows.






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