Seamless and Secure Integrated Payables: Watch How it Works
February 7, 2020
According to the industry’s leading authorities, checks are the most inefficient and risk-prone method of payment. The full cost of invoice processing and payment by check is $39,[1] and attempted check fraud is rising at an alarming rate.[2]
With that degree of inefficiency and risk, organizations of all sizes are looking for the most efficient way to reduce significant overhead costs while improving security and transparency.
Many invest in AP automation to address workflow inefficiency and start using electronic payments, only to find there is still fragmentation and friction when it comes to executing payments.
Most do not realize that a truly integrated payables (IP) solution is simple to implement and can quickly deliver results through lower overhead costs, less risk, and better supplier acceptance of electronic and card payments. When done right, an IP solution also drives early payment discounts, rebates and cash-back incentives.
Watch this short video to better understand how the CPX (Commercial Payment Exchange) IP platform uses a single payment instruction file from your existing ERP to:
- Pay every supplier in your AP system, seamlessly and securely
- Deliver benefits to your bottom line
Want to learn more? Click here to contact us, or to schedule a demo today!
[1] 2018 Electronic Accounts Payable Benchmark Survey, RMPG Research Corporation
[2] 2019 Deposit Account Fraud Survey, American Bankers Association.