Treasury and finance professionals are increasingly concerned with centralizing their payments operations with payments factories and shared service centers (SSCs). Recognizing this trend, AFP’s latest Payments Decision Guide, underwritten by Fifth Third Bank, focuses on helping corporates implement a successful payments factory program.
The AFP Payments Decision Guide to Utilizing a Payments Factory describes options for organizing payments functions, outlines decision factors, explains nuances of the various concepts related to payments factories and SSCs, and provides guidelines for implementing successful payment factory programs. The guide includes insights and tips from corporate practitioners.
“This guide examines the different payment options available today—from centralized, regionalized, to decentralized structures—and the benefits and shortcomings of each that need to be thoughtfully considered,” said Jeff Ficke, Senior Vice President, Treasury Management, for Fifth Third Bank. “Making the right decision about which type of structure to utilize requires that key factors be addressed, such as payment processing, organizational structure, geographic locations and technology needs.”
Ficke noted that while payments factories and SSCs are in many ways interchangeable, they are based on different principles. The new guide provides treasury and finance professionals with insights into both services, allowing them to determine which one is more conducive to their respective organizations.Download the AFP Payments Decision Guide to Utilizing a Payments Factory here.