executive vice president and appointed him to the board of directors. Mr. Giovinazzi will direct all financial activities at First Morris. He joined the bank in 1993 as vice president, treasurer, and controller. He previously served as senior vice president and controller for the Dime Savings Bank of New Jersey. His financial career includes more than 10 years at KPMG Peat Marwick.
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The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables.