Your corporate strategy and the success of your business increasingly depends on leveraging your third party relationships.
However, incomplete information regarding your third parties continues to be a top pressure affecting supplier management. Hiperos research shows that more than 85% of companies are negatively affected by inaccurate or incomplete banking information on their third parties resulting in:
- accounts payable issues
- service interruption resulting from payments not being received
- potential for payment fraud
- possible money-laundering issues
Hiperos Banking Information Management provides organizations with a consistent, intelligent and automated approach of collecting and maintaining correct and complete banking information from their third parties.