Are we really, today, totally digitally oriented? Can we afford not to be? The Digital-First approach is getting a bit of press these days. Companies that apply it are proactively seeking digital solutions, ensuring their competitiveness in a rapidly changing landscape. By prioritizing digital channels, technologies and methodologies, organizations are better placed to respond to market changes, innovate rapidly and create exceptional experiences for their customers and employees. This strategic pivot to digital enables companies to be agile yet robust and ahead of the curve.
Take electronic payments, for example. If your organization still relies on manual payment processes (like checks that get mailed 🙁), it’s no longer just a matter of inefficiency, it’s a matter of risk. Manual processes lack transparency, are prone to error and can expose your company to compliance issues, particularly in the context of regulations such as the Sarbanes-Oxley (SOX) law.
At PIREL, we’ve developed a solution designed for the high standards of today’s market, which demand accuracy and accountability. Our process automation approach coupled with our electronic payment solution improves transparency, strengthens controls, ensures document integrity and guarantees that every step of the payment process is auditable. From supplier validation to secure electronic funds transfer (EFT), our platform adds a layer of trust that supports SOX compliance while streamlining operations.
While some companies are still debating the value of electronic payments, others are already offering these benefits to their stakeholders. They’re reducing operating costs, strengthening supplier relationships and leveraging a major gain in financial clarity to make better decisions. Staying on the sidelines is not only risky, it also means falling behind compared to your competitors.
By adopting a Digital-First mindset, you prepare your organization to play a leading role in an increasingly competitive marketplace. Modernizing financial processes e.g. automating your accounts payable is highly transformative, and in the most positive sense of the word. From the digitization of invoices to their payment, backed up by the expertise of a money-services business (MSB), the full automation that PIREL can offer ensures that nothing is left to chance.
Can we help you go further in your Digital-First approach?