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Improving Business Payments by Asking What Corporations Really Want
May 2005 Volume 11, Number 5
JEL classification: L21, M10, O31
Authors: Sandy Krieger and Michele Braun
A recent study led by the New York Fed sheds light on the changes in the payment process that large corporations would most like to see. The study's results, summarized in this article, suggest that corporate treasurers and cash managers would particularly value enhancements that decrease unauthorized and insufficiently funded payments, streamline data formats, improve bank services and information posting, and reduce cross-border payment uncertainties.