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Gestion des flux de trésorerie de la prochaine génération : votre feuille de route de la transformation numérique

 

La numérisation des paiements est plus importante que jamais, à mesure que les entreprises cherchent à augmenter leur fonds de roulement, à réaliser des gains d’efficacité, à diminuer les coûts et à réduire au minimum les risques. De plus, la pandémie de COVID-19 a poussé de nombreuses entreprises à se tourner vers l’automatisation, face à ces préoccupations, dans l’ensemble de la vaste communauté des fournisseurs, des clients et des partenaires.

Selon un sondage mené en 2020 par l’Association of Financial Professionals (AFP), près de 60 % des répondants ont indiqué que leur organisation était très susceptible ou plutôt susceptible de convertir aux paiements électroniques la majorité de ses paiements interentreprises par chèque à ses fournisseurs. Cinq pour cent seulement ont indiqué qu’elles n’avaient pas l’intention de procéder à cette conversion1.

*Disponible en anglais seulement

3 Steps to Successfully Transition to Digital Payments

3 Steps to Successfully Transition to Digital Payments

Step 1. Set Your Goals

Your goals may include:

  • Increasing working capital
  • Creating infrastructure efficiencies
  • Maximizing financial gains
  • Minimizing risk

How can you set your goals?

  1. Analyze your current accounts payable spend.
  2. Determine your current working capital need.
  3. Identify your days payable outstanding (DPO) and days sales outstanding (DSO).
  4. Identify the Industry standards in delivering efficiency in AP and AR departments.

Step 2. Set Your Plan

Your digital payment infrastructure has to serve your organization's purposes, not the other way around. And the use of checks needs to move away.

Disbursements and receivables decreased in organzation's surveyed from 70 to 80 percent in 2004 to 40 to 50 percent in 2019, according to an AFP 2020 survey.

  • Check remains a primary form of payment
  • AR vs. AP - Similar reductions in use reported
  • Size does matter
  • Major suppliers continue to be paid via checks
  • Supplier adoption of ePayments is on the rise

The number of ACH debit transfers (16.6 billion) exceeded the number of check payments (14.5 billion) in 2018 for the first time1

Converting B2B payments to suppliers from checks to digital payments is accelerating, according to an AFP 2020 survey2.

  • Roughly 60 percent reported that their organization is either very likely or somewhat likely to convert the majority of B2B payments to suppliers from checks to electronic payments
  • Organizations are currently primarily using electronic payments for their B2B transactions
  • Supplier adoption of ePayments is on the rise

Step 3. Overcome Roadblocks

When working with your suppliers and clients on transitioning to digital payments, it's best to communicate the benefits, such as timelier payments for vendors or cashless transactions for customers, straight-through processing to AP or AR:

  • Cost savings
  • Improved cash forecasting
  • Speed of settlement
  • Improved supplier/customer relations

According to an AFP 2020 survey, other benefits to sending digital payments include2:

  • Straight-through processing to AP or AR, and general ledger 49%
  • Cost savings 45%
  • Improved cash forecasting 42%
  • Speed of settlement 42%
  • Improved supplier/customer relations 37%

According to an AFP 2020 survey, other benefits to receiving digital payments include2:

  • Speed of settlement 50%
  • Straight-through processing to AP or AR, and general ledger 31%
  • Improved cash forecasting 30%
  • Improved matching for cash application 27%
  • Improved supplier/customer relations 26%

As companies have had to transition during the pandemic, with many working remotely, electronic payment methods are more convenient and allowed for payments to be made and received with minimal disruptions.

1 "The 2019 Federal Reserve Payments Study," The Federal Reserve System, January 06, 2020 2 "AFP 2020 SURVEY," Association For Financial Professionals, 2020

Mais à quoi ressemble ce parcours vers la mise en œuvre d’une infrastructure de paiement numérique pour les entreprises? Susan Witteveen, qui dirige le groupe Solutions de trésorerie et de paiement des Services bancaires aux grandes entreprises de BMO Groupe financier, a récemment animé une discussion sur les meilleures pratiques avec trois experts :

  • Robert Lowther, premier vice-président, Finances de MNP, l’un des plus importants cabinets de comptabilité, de fiscalité et de services-conseils au Canada
     
  • Megan Kells, chef, Produits, Solutions de trésorerie et de paiement Amérique du Nord à BMO
     
  • Matthew Bleecker, directeur général, Stratégies d’optimisation des paiements à BMO

Voici un résumé de notre conversation, qui a été modifiée pour plus de concision et de clarté.

La transformation numérique de MNP

Selon Robert Lowther, MNP a entamé sa transition vers les paiements numériques il y a environ quatre ans. L’entreprise avait jusqu’alors adopté une approche plus traditionnelle à l’égard des comptes fournisseurs et des comptes clients, et les chèques représentaient le principal mode de paiement. L’équipe responsable de la trésorerie de MNP voulait mettre en place un système plus efficace, et ses clients commençaient à manifester de l’intérêt pour d’autres modes de paiement. La transition était donc, selon Robert Lowther, « un exercice visant à s’assurer que la voix de nos fournisseurs et de nos clients était entendue ».

Il ajoute que MNP se targue de son esprit d’entreprise et de son engagement en faveur de l’innovation, et que la société considérait la mise à niveau de son système de paiement comme l’occasion d’appliquer ces principes pour satisfaire ses parties prenantes internes et externes. Le fait que l’équipe de la trésorerie de MNP ait adhéré au plan a été un facteur essentiel de la réussite de celui-ci, mais la tâche a été facilitée par le fait que l’initiative était pilotée par l’équipe elle-même.

« Tout est parti de certaines des idées que l’équipe avait proposées, déclare M. Lowther. Elle a été le moteur de ces changements. Cela a aidé l’entreprise, bien sûr, mais cela facilite aussi les activités courantes de l’équipe. Ce sont les raisons d’affaires qui ont motivé le processus de prise de décision. »

Cela ne signifie pas qu’il n’y a pas eu quelques obstacles en cours de route. Même si certains des clients et fournisseurs de MNP étaient impatients d’utiliser les méthodes de paiement électronique, d’autres n’étaient pas aussi convaincus. C’est à cet égard que la présentation des avantages des paiements numériques du point de vue du fournisseur, par exemple la rapidité des paiements, peut aider à étayer les arguments.

« Il n’a pas été facile de convaincre certains de nos autres fournisseurs et clients de passer aux différentes formes de paiement électronique, déclare Robert Lowther. Pour répondre à certains de leurs arguments, nous avons tout simplement présenté certains des avantages dont ils allaient bénéficier. »

Quand est venu le moment de choisir une solution, MNP a compris que l’infrastructure de paiement numérique devait être au service de ses objectifs, et non l’inverse. Nous nous sommes notamment assurés que les outils soient faciles à intégrer à la planification des ressources de l’entreprise et aux systèmes bancaires.

Bien entendu, disposer des bons outils n’est utile que s’il y a un moyen de mesurer la réussite. C’est à cette fin que MNP a établi des objectifs clairement définis pour ses clients et ses fournisseurs. « Nous avons établi des cibles initiales pour la conversion d’un pourcentage précis de chèques en différents types de paiement électronique, avec un certain pourcentage de clients et un certain pourcentage de fournisseurs, explique Robert Lowther. Notre objectif était d’observer les améliorations progressives au cours d’une période donnée. Nous avons commencé il y a trois ou quatre ans, et nous observons que la situation progresse d’année en année. »

Un parcours continu

Ce que montre l’expérience chez MNP, c’est que l’entreprise s’en est tenue de près aux meilleures pratiques en matière de paiement numérique. Comme Megan Kells le souligne, il était essentiel d’établir des objectifs et des jalons précis pour le processus, et il fallait aussi que MNP laisse à l’équipe responsable de la trésorerie et à ses clients le temps nécessaire pour faire la transition afin d’augmenter le pourcentage global de paiements numériques au sein de l’entreprise. Cela illustre bien le fait que le respect des meilleures pratiques peut mener l’entreprise vers l’adoption des bons outils.

« Plus vos partenaires de la Banque comprennent ces objectifs, plus ils peuvent parler de vous aider, d’un point de vue tactique, pour atteindre ces objectifs », déclare M. Bleecker.

Celui-ci explique que MNP est maintenant passée à une fonction de gestion de trésorerie presque entièrement numérique, mais que ce n’est que la première étape et que l’évolution se poursuit. À l’avenir, il s’attend à ce qu’un système de gestion de trésorerie de prochaine génération permette à son équipe de se concentrer sur les aspects plus stratégiques de son travail.

« Je crois que nous avons encore du travail à faire, dit-il. Nous avons réellement mis l’accent sur l’aspect transactionnel : comment éliminer un grand nombre d’éléments transactionnels et faire en sorte que nos systèmes et nos outils les gèrent pour nous? Nous cherchons encore des façons d’améliorer les éléments de planification à long terme de nos flux de trésorerie. Comment pouvons-nous continuer à automatiser nos flux de trésorerie? Comment les intégrer à certains de nos outils de prévision et d’établissement de budget? Nous pouvons nous concentrer sur un certain nombre de projets stratégiques de façon à mieux gérer le capital à long terme de notre entreprise. »

En plus d’offrir une plus grande marge de manœuvre à ses parties prenantes externes, la transition vers les paiements numériques a été bien accueillie par l’équipe de gestion de trésorerie de MNP. Robert Lowther évoque la rapidité et l’efficacité de son nouveau système, ainsi que la capacité de se concentrer sur un plus grand nombre de relations clients.

« Cela a une incidence sur l’équipe des finances, mais aussi sur les décideurs qui approuvent les transactions, déclare-t-il. Cela a également un impact sur nos équipes régionales qui tentent de traiter avec les clients. Moins elles doivent consacrer de temps à l’administration, plus elles peuvent en passer avec les clients. Cela permet vraiment à nos équipes de se délivrer des tâches transactionnelles pour se consacrer aux priorités stratégiques et, en quelque sorte, croître avec la technologie. Cela leur permet de participer davantage à la prise de décisions. »

Accélérer vers l’avenir

À BMO, nous avons pu constater par nous-mêmes la réticence de certains fournisseurs à passer aux paiements numériques. Matthew Bleecker fait remarquer que ses clients sont de plus en plus nombreux à adopter cette nouvelle solution, parce que les avantages sont plus faciles à concrétiser, notamment l’amélioration des prévisions de trésorerie, la rapidité du règlement et le renforcement des relations avec les clients.

« Ils ont l’habitude de recevoir un chèque par la poste, et tous les renseignements de la facture figurent au bas du talon de chèque, explique-t-il. C’est ce qui justifie principalement cette réticence au changement : Vais-je recevoir les données qui sont si importantes pour clôturer les comptes clients qui ont été ouverts pour cette facture? Les données et l’argent doivent se déplacer ensemble. Et nous avons simplifié le processus d’inscription des fournisseurs afin que ces derniers puissent être payés sous une forme numérique. Grâce à l’élimination de cet obstacle, nous avons constaté une hausse du taux d’adoption, et c’est une tendance qui va se maintenir avec le temps. »

La pandémie a donné un coup de pouce à l’adoption de nouvelles technologies dans tous les types d’entreprises, et elle a fait de même pour le passage à des systèmes de trésorerie de prochaine génération. « Bien que la COVID-19 ait bien sûr eu des effets désastreux sur l’économie et sur les petites et moyennes entreprises en général, elle a fait faire à toutes un bond de cinq ans vers un environnement numérique, explique Robert Lowther. C’est aussi ce que nous avons constaté dans notre secteur d’activité. »

Comme le dit Megan Kells : « Les paiements numériques ne font pas de discrimination. Peu importe la taille de votre entreprise, votre présence géographique ou votre secteur d’activité, les paiements numériques ont un rôle à jouer au sein de votre gamme de modes de paiement.

 

Association of Financial Professionals

LIRE LA SUITE

Disponible en anglais seulement

[VIDEO 1 TRANSCRIPT] What are some practical considerations for reaching your digitization goals?

Robert Lowther:

Maybe just to set the stage, obviously, if you go back five years treasury, as a function, it was being disrupted. There was plenty of new technology coming into the market. This just isn't for professional services. This is really across all industries. As a firm, we've been growing quite quickly over that period of time. The way we first looked at it from an evaluation perspective was, how do we offset some of these higher transaction volumes?

There's throwing more people at the problem, and then there's looking for tools and technology that can help us manage that challenge. What we did is our team was reviewing what tools and technology made sense for us. Part of the conversation of when we went to BMO was what does BMO actually have available? What new tools are they rolling out? MNP, as I've mentioned, we pride ourselves on innovation. We want to be an early adopter in some of these technologies. That's how we approached the conversation with BMO around the treasury piece.

For the people on this call, part of the evaluation is dependent on what type of business you're in. It's going to be dependent on what resources you have available. A large business is going to have different levels of resources than a small business. Finding the right solution is obviously going to be critical in evaluating what the right setup is. From a leadership perspective, we looked at a couple of different things. I've mentioned supporting the client. That's both internal and external. Then as a finance team in general, accuracy is going to be critical. That's really step one, accuracy, you don't compromise on.

Excellence is something that we talk about as a finance team as well and coming and doing our best work every day, finding new ways to approach problems, and raising issues when you see them. The innovation of our financial processes, again, tying in to some of the specifics I'll go into later on in this conversation. Getting buy-in from the team, it really wasn't a challenge at all. When I think about what our team brought forward, this is really an initiative that was driven by our team and it started from some of the ideas that they brought forward. They've been the driver of the changes. It not only helps the business, but it helps them in their day-to-day work and really the business reasons for these changes is what drove the decision-making process.

[VIDEO 2 TRANSCRIPT] What are some obstacles you should prepare for? 

Robert Lowther:

We would have a segment of our vendors and clients that are 100% on board with moving to electronic payments or would have already been using them, but convincing some of our other vendors and clients to move to different forms of electronic payment was also a challenge.

I think the way we overcame some of those conversations was just talking through some of the benefits that they were going to see. When we think of our vendors, for example, on the electronic payment side, the payment comes through in a more timely manner. You're not waiting around for that check to be delivered in the mail and going to stand in a bank line and deposit those checks. On the client side, obviously, we have more flexibility in that conversation, but we had a lot of successes there too. The clients definitely bought in to the move to the electronic payments.

A few of the other items, I would say just making sure that these new tools integrated with our existing platform whether it's our ERP system or our banking system. We wanted tools that were easy to integrate and that we weren't having to create workarounds in that respect. Then the last piece was training. Our finance team is used to the existing platforms that we have.

Our finance team was relatively easy to train because they're in these tools every day. Where I would say there was a larger challenge in that respect was the people that are only in the system maybe once a month, mainly the approvers that go in and they're trying to assess what the transaction is, what's been process, maybe look at the backup to that transaction and going in and approving it. I would say that the training was a little bit of a hurdle to overcome as well, but after a few months, it was dealt with.

[VIDEO 3 TRANSCRIPT] What’s on MNP’s digital roadmap?

Robert Lowther:

What I can say is, when I think about the entire treasury ecosystem and our finance where it lies within our finance ecosystem, we’ve transitioned to what I would say is a nearly full digital treasury function. I think we still have some work to do. Our real focus has been on the transactional piece. How do we eliminate a lot of that transactional elements and allow our systems and tools to manage those for us? Where we continue to look for ways to improve is really on the longer-term planning pieces of our cash flows.

Some of the other pieces on the receivable side, again, our technology and finance team have worked together with BMO as well, setting up scripts for some of the client deposits that we see, aligning those with our in-house management system. What that means essentially is that when a deposit comes in, the script reads off of a document, and then it would assess if there’s a matching receivable. If there’s a matching receivable, it matches it off and if there isn’t, then it would go into the bank or into the pool for our team to review.

In most cases, those deposits would automatically be matched off with receivables, again, eliminating, maybe it’s 90% of the work associated with that.

I think we’ll always have work to do because technology changes so quickly. We’re really focused on some of the strategic items. How do we continue to automate our cash flows?

How do we integrate it with some of our budgeting and planning tools or forecasting tools? I think there’s a number of strategic projects that we can focus on here to better manage the long-term capital of our business. That’s where I think really where our focus is now that some of the transactional elements have been dealt with.

[VIDEO 4 TRANSCRIPT] How have the changes MNP has implemented impacted their employee experience?

Robert Lowther:

Some of the benefits that I think the team, as a whole, would have seen would be just the speed and efficiency. I've talked a bit about that in a number of instances already, really less manual processes, I think most people appreciate that. The cost savings obviously is a piece of it as well. Really, I talked about Spin Dynamics and the benefits of using that in A2Pay. It's a smart tool, it saves our team time of reentering the same categories or cost information, setting up those rules, simplifying approvals, making our approvers more efficient.

It impacts the finance team, but it also impacts the decision-makers that are approving transactions. It also impacts our regional teams that are trying to deal with clients. The less time that they're spending on administration is more time that they're spending with clients. That's obviously a side benefit of some of this. Not the complete elimination of checks because we still do have some of that, but just the time and material savings having moved most of our transactions off of checks.

You think about the time of processing the check and stuffing the envelope or sending it out, or if you're using a third-party service to do that for you, there's a cost associated with that. Eliminating a lot of that cost is beneficial. Just in the team in general, what I would say is it really allows our team to focus and move from the transactional work to strategic priorities and allows our team to grow with the technology. Allows them to be more involved in trying to drive decisions rather than managing more of the transactional and administrative elements of the business. Like I said, that the team has really been great and led the charge from step one. I think that's part of the good story.

[VIDEO 5 TRANSCRIPT] How do you start digitizing payments?

Matthew Bleecker:

I think goals is a number one thing as normalization to think about and making sure you're studying those. When we think about a couple of those, the number one that I've had since COVID came into play is that increase in working capital. I've heard from a lot of clients talk about that. How do I do that? How can I extend my DPO and what can I do? One of the things that I suggest clients take a look at is what is your payment strategy?

Is this an opportunity to refine that? Or if you don't have a payment strategy currently in place, to develop one. It's one of the key things you'd want to probably take a look at. Other things, Megan, that you might have heard from a goal's perspective?

Megan Kells:

On the slide there, you can see creating infrastructure efficiencies or just creating efficiencies overall. I think Rob highlighted some really good examples today of what he saw on his efficiencies across his organization. I would say digital payments, they don't discriminate. Regardless of the size of company you have, the geographic footprint, the type of industry you are in, there's a role for digital payments or electronic payments in your payment mix. To Rob's point, they didn't continue to totally eliminate cheques.

There's always going to be room for cheques but thinking about how it's part of your mix is important. On the efficiency, I would say you can now look for efficiencies in typical three categories. People, process, and technology. People, we heard today that you can move people from lower-value activities where they're spending time opening envelopes, reconciling checks to hire, order work. In Rob's case, working capital and focusing on cash flow. From a process perspective, when you move to electronic payments, when you're initiating them let's say on your bank's platforms and the most case will be a lot of the steps and the controls are built right into the system.

Those process steps can come out of your manual work because the system prompts you to do those steps in your process. From a technology perspective, electronic payments have a lot of the remittance information that travels with them. That, again, takes a step out of your manual process and creates some efficiencies. Then Rob-

Matthew Bleecker:

I think as we listened to Rob, the other thing he talked about was a cost and recognizing that there's a cost associated with doing manual payments. Oftentimes, those have higher fees associated with them. Along with the labor cost, when you think about that ties back to the efficiency. Can you gain efficiencies and gain that cost savings by having your resources deployed and doing something else? Wires are a very expensive form of payment. If you can remove that and offer a virtual card or an EFT or ACH, those are much lower from a cost perspective.

Depending on the size of your company and you take a look at the number of transactions you are doing on an annual basis, those fees eventually do add up. That's an opportunity to save some of those cost. Along with those different digitized payments, come risks. Megan, what are you seeing as far as some of those payment risks that are out there and changing those, and how do you make sure that you have good controls in place?

Megan Kells:

Yes, Matt, it's a really good question. Oe thing just on the hills of some of the things that Rob mentioned is, part of the risk is understanding where your payment is in the process. When we think about paper payment, some of the risk is understanding the timing. If we just think about things like dependencies on the post office, that is something that's not controllable for any of us. Taking some of that risk out of the predictability of when the payment will go out or when the payment will arrive, I think is key.

Moving to digital or electronic payments, when you are using that format you can mirror the controls for those payment types with the controls you've set up in your own company. Now you just mentioned wire payments. When you move towards something like wire payments, you can set up dual controls, you can set up multiple levels of controls on top of your Maker Checker in the system. You can set up different authority level controls by payment types. You mentioned ACA, EFT.

Digital payments enables you a little bit more flexibility in terms of system-driven controls that marry up to your finance or your treasury controls that you have in your group. It gives you more power and more control on overall reducing the risk in the system.

COVID's really forced us to take a look at that and find ways for us to be more efficient and timely with our payments. At the same time, making sure that we are keeping our staff safe. I think that's a key thing overall. We have a safety concern in regards to our employees and our team members. Rob also mentioned a little bit of he falls into that bucket of one third. They've already been on this journey for a couple of years, however, that journey doesn't end just because you started switching your payments over to digital.

Matthew Bleecker:

Absolutely. I would agree. I think weaving in that, that payment strategy as part of your goals and taking a look at that, and then making sure you share those goals with your banking partners. The more that your bank partners can understand what those goals are, they can talk about helping you from the tactical perspective of achieving those goals, similar to what Rob had talked about when he was sharing his story. Sue, it's back to you, but thank you for allowing us to share some of our best practices and things that we've seen over the time period.

[VIDEO 6 TRANSCRIPT] How can you get suppliers onboard? 

Matthew Bleecker:

Oh, definitely. I think when it comes to that supplier acceptance, when we first started talking about digital payments to suppliers, they were a little bit reluctant and that’s because change is scary. They’re used to getting that check in the mail and at the bottom of the checks tab, had all their invoice information. I think that was primarily what was driving that hesitation to change was will I receive the data that is so critical to close my AR items that are open and for that invoice?

I think Megan talked about that a little bit earlier, the data and the dollars need to travel together. The other piece that has happened is we’ve made it simpler for suppliers to be able to be registered to get a digital form of payment. By removing that, that friction, we’ve seen a higher adoption and we’ll continue to see that adoption rates increase over time.

[VIDEO 7 TRANSCRIPT] How can you transition your customers?

Megan Kells:

I think spending some time to really analyze your payments both incoming and outgoing is also super important. The by-product type, the volume of payments, the value of some of your payments, some frequent offenders in terms of customers who are suppliers or vendors who more frequently issue checks.

If you have some timing concerns, if you have big payments you make at typical intervals during your month, that's really critical to understand. Then you've got really a history and an inventory of what your payment schema looks like. Then you can work with your advisor to figure out what the next step would be. With your goals firmly set up and then much like Rob did understand your time horizon. If you have technology that you can take advantage of whether that's a treasury workstation, an ERP system, whether you're making a change or moving to one, or you're on Excel spreadsheets, that's totally fine too.

How you would back into moving some of your mix to digital. You can move it in increments, once you have a better understanding in the analysis of your payments. You can also think of small or large things you can do to incent your community in terms of moving to digital payments. If people pay on time, can you factor off part of the cost of those payments, et cetera? That would really depend on the mix of payments and the volume and the value, but there's all sorts of alternatives you can do if you find components of your payment mix, where that audience is not as receptive.

Those would be the five or six principles to think about as you start to move down your journey to move to electronic and digital payments.

Marc-Andre Bergeron Directeur général et chef, Transactions bancaires mondiales

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