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  5. AFP 2023: Opportunities for Banks to Embrace the Future of Receivables Management

AFP 2023: Opportunities for Banks to Embrace the Future of Receivables Management

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20 October 2023
Colin Kerr

This weekend I head to the Association for Financial Professional (AFP) conference in San Diego – one of my favorite conference cities in the US – and especially in late October as cooler, wetter days settle into Chicago. Yet again AFP clashes with Money 20/20 in the US. This is a recurring challenge for banks, vendors (and firms like Celent!) as we must divide our resources and conquer. At face value these events seem quite different – with AFP being centered around financial and treasury practitioners, and Money 20/20 being more associated with fintechs. However, there is increasing overlap as both conferences require innovation by banks and fintechs (more often jointly) to meet the needs of clients.

This year my AFP meeting-card is well-filled with banks, technology vendors, and treasury practitioners for a pulse check on treasury technologies and solutions. I’m also fortunate to be spend some time with a leading bank’s client advisory board. That’s quite an honor that I’m looking forward to (even if it does mean a redeye flight back to Chicago).

In a stroke of fortuitous timing with AFP, Bob Meara and I just published a new report on receivables automation vendors – Corporate Receivables Management Platform Review: Embracing the Future of Receivables. These platforms have advanced significantly since Celent’s last vendor comparison, yet solutions remain widely varied in how they choose to automate the invoice-to-cash cycle. Banks with solutions in the market need to know what they are up against. Corporate receivables platforms remain a hotbed of development activity, especially in new, cloud-based, corporate-facing solutions. Most vendors are on rapid or continuous release cycles. Thus, if it has been a year since you have compared solution capabilities, your insight is out of date. We also see banks exploring partnerships with corporate-facing vendors to embed more deeply into client workflows. But this is not without challenges, particularly in terms of cultural expectations. This report will quickly get you current and show what your bank is competing against. In addition to Celent’s comparative analytics, we have compiled rich vendor profiles, including a solution overview, advanced technology metrics, key functionality, customer base and feedback, and pricing.

Back to AFP. My Celent colleague Patricia Hines and I still have a few open spots for meetings. Be sure to contact your Celent account team or or via our contact form if you’d like to set something up.