What is Straight Through Processing(STP)? Back to list

Member SinceMar 07, 2022

Posts 263

Agaricy96

Nov 25, 2022 a 10:46
Straight-through processing (STP) assists businesses in speeding up financial transaction processing by automating data sharing across multiple points. An STP solution in accounts receivable reduces errors and the repetitive, menial tasks required to collect and reconcile payments.

Because they are still heavily reliant on paper-based processes and paper check payments, B2B businesses stand to benefit the most from implementing an STP process. These businesses can reduce payment cycle times by up to 60% and collection costs by up to 50% by utilizing payment processing software that includes STP.

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