White Paper: Higher Education’s Struggle with Automation: Virtual Cards vs. Purchasing Cards
Higher education is defined as an optional final stage of formal learning. It is the pinnacle. The peak of forward-thinking. Yet, despite being comprised of men and women full of progressive ideas, institutions of higher education often fall behind the curve when it comes to one of the most quickly innovating technologies of our modern lives — automation, particularly when it comes to the payments industry.
There are many opportunities for academic institutions to improve automation processes. But the challenges and trends facing procurement and accounts payable — two of the largest departments within most collegiate organizations — have some of the biggest effects on students, faculty and stakeholders. These departments sit at the top of the food chain, overseeing numerous departments below them. One error or delay quickly trickles down.