For Subscribers

One Exec On Escaping Accounts Payable Hell

Learn how this COO escaped accounts payable hell.

By David Port

Cody Pickens
Touch of Modern COO and cofounder Jonathan Wu

Opinions expressed by Entrepreneur contributors are their own.

Touch of Modern COO and co-founder Jonathan Wu used to love handling payments for his suppliers. It showed him just how fast his company, a well-curated shopping site for men, was growing. (Sales hit $100 million in 2015, just its fourth year.) "But it got really tedious really fast," he says. "I was blocking out a whole day each week just to process payments." So he started looking for a fully automated system that would free him up to focus on building his business.

Related: 10 Questions Every Entrepreneur Needs to Ask Suppliers

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

A Mississippi News Anchor Is Under Fire for Quoting Snoop Dogg

WLBT's Barbara Bassett used the rapper's "fo shizzle" phrase during a live broadcast, causing the station to let her go.

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.

Career

Thinking of a Career Change? Here Are 4 Steps You Can Take To Get There.

Author Joanne Lipman on what experience and science tell us about successful job pivots.

Money & Finance

What Is Market Cap? Here's a Comprehensive Explanation.

Read on to learn how to calculate market cap, explore the different categories and understand how it influences investment analysis.

Money & Finance

Revenue vs. Profit: What's the Difference?

The difference between revenue and profit is vital to understand in order to run a healthy business. Read on to learn all about these basic economic concepts.