Nick Chandi, CEO of Forwardly, a payment platform that helps US businesses send and receive payments quickly, has highlighted the importance of payment automation as a crucial tool for staying competitive and profitable. Payment automation involves using technology to handle and process payments electronically with minimal human effort. This can streamline transactions, save money and minimize mistakes, improve efficiency and financial health. It can also improve relationships with suppliers and customers due to a faster, more reliable payment system. According to a Salesforce survey, 63% of surveyed businesses attributed fewer invoicing errors directly to automation. Automated systems process large volumes of transactions quickly and accurately, allowing staff to focus on higher-value activities. The use of payment platforms can also significantly increase business efficiency and support business expansion efforts.
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