Modern Finance: AP Automation with Steve Buchberger and Heather Dawood from Deluxe | Episode 431

Our Modern Finance series continues with episode three, featuring Steve Buchberger and Heather Dawood from Deluxe. We explored why more than 80% of businesses are still managing accounts payable manually — and the insights may surprise you. The pair explain how today's finance professionals are caught in a challenging paradox: highly skilled individuals spending countless hours on manual tasks, serving as the frontline against fraud while having little time to implement strategic improvements. This has created peculiar workplace phenomena like "CFO Tuesdays," where executives come into the office specifically to manually process ACH payments – a clear misuse of talent and time.Beyond the inefficiencies, we explore the very real risks these outdated methods create. From human error and payment delays to check fraud and the burden of managing sensitive banking information, these challenges affect both operational efficiency and vendor relationships. As Heather pointedly observes, "Financial fraud was a white collar crime. Now it's an everyone crime."The conversation takes an encouraging turn as we unpack Deluxe's innovative approach to AP automation. Their solutions integrate directly with businesses' ERP systems to simplify payment processes regardless of method, while their recent acquisition of CheckMatch from Kinexys by J.P. Morgan creates a more secure digital alternative to mailing checks. Perhaps most compelling is how these improvements translate into stronger vendor relationships – offering payment choice, ensuring timely delivery, and providing transparency transforms the payment process from a potential friction point into a relationship-building opportunity.What stands out most is how Deluxe reframes AP from an operational burden into a strategic advantage. By delivering secure, streamlined processes and giving vendors more choice and transparency, automation transforms payments into a foundation for stronger, more trusting business relationships.