Supplier Payment Optimization with Virtual Card Payments

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1 Supplier Payment Optimization with Virtual Card Payments

2 At a Glance About Store Financial Select Valued Clients Providing card payments across the world since 2004 Manages 650 card programs for 450 corporate payers Issuing payments in four currencies: USD, CAD, EUR, and GBP? $2B Support 24/7 in English and French Processing about $2 Billion in B2B payments 2

3 What Is A Virtual Card Payment? A V-Card Payment Is:: ********1234 B2B payment leveraging the MasterCard payment network Single-use payment card issued to specific supplier for specific amount via Store Financial s Custom Loop private-label processing service Less costly & reduced risk versus issuing check or ACH Secure, 16-digit payment number No plastic card needed Universally accepted by any supplier with card acceptance capabilities V-Card Payment Benefits:: Generate a rebate for the buyer organization Can be used to pay any invoice for any payment amount Coexist with P-card and T&E card programs Most secure B2B payment Does not require Eliminates changes to your 1099 filing existing banking requirements relationship or ERP system 3

4 P-Cards & V-Cards Coexist P-Card Payments V-Card Payments Convenience Virtual, Single Use Cards Walking Plastic High Rebate / Interchange Increase Total Rebates on Manageable Spend ACH + Lower Supplier Acceptance Fees Targeting ACH and Check Spend Limited Supplier Acceptance Higher Supplier Acceptance 4

5 Supplier Payments Optimization With Virtual Cards Does your treasury bank offer a full-service v-card program including: Supplier conversion and enablement Lower supplier acceptance fees Virtual card management and delivery Buyer and supplier support Reconciliation tools Store Financial s Custom Loop virtual payment card program may be perfect for your brand, your customers and your business goals. 5

6 Not All V-Card Programs Are The Same Store Financial Payment Optimization Programs Supplier Acceptance Rates Standard Bank Programs Standard Credit Cards and P-Cards Large Ticket Adjustment Capabilities Private Label Cards Private Network Cards Reduced Acceptance Cost $ Highest $ Lower 6

7 Supplier Enablement = Success Store Financial creatively enables supplier payments. Supplier Friendly Practices Store Financial Bank Acquiring Issuing Special Focus on Suppliers Detailed payment education Working with supplier s merchant acquirer to lower card acceptance costs Continuous supplier relationship management Supplier Benefits Faster payment/reduced DSO Lower acceptance costs Enhanced remittance data Improved reconciliation efficiency More secure payments 7

8 Sample Supplier Payment Analysis Spend Total Spend: $2.2 B Manageable = $1.2 B Non Manageable = $1.0 B Manageable Non-Manageable Spend Manageable: $1.2 B Higher Opportunity - $317.8 M Moderate - $455 M Lower - $10.6 M Limited - $407.6 M High Moderate Lower Limited 8

9 Sample Supplier Payment Analysis Targeted Spend Early Pay Incentive Supplier Card Options < 2% Discount 0 to 5 Days Preferred 16 to 20 Days 0 to 7 Days Preferred 21 to 30 Days 0 to 15 Days Select 31 to 35 Days 0 to15 Days Select 36 to 45 Days 0 to 15 Days Standard 46 to 60 Days 0 to 15 Days Standard Spend < 2% Discount 16 to 20 Days 21 to 30 Days 31 to 35 Days 36 to 45 Days 46 to 60 Days 10

10 Sample Revenue Opportunity SUPPLIER ENABLEMENT Terms Total Spend 10% 20% 30% 40% 50% < 2% Discount $ 2,328,811 $ 1,467 $ 2,934 $ 4,401 $ 5,869 $ 7,336 > 2% Discount $ 1,438,260 $ - $ - $ - $ - $ - Pay Immediate $ 373,332,403 $ - $ - $ - $ - $ - Within 15 Days $ 32,908,008 $ - $ - $ - $ - $ - Within 20 Days $ 7,332,458 $ 4,619 $ 9,239 $ 13,858 $ 18,478 $ 23,097 Within 30 Days $ 444,790,441 $ 328,789 $ 657,578 $ 986,367 $ 1,315,156 $ 1,643,945 Within 35 Days $ 10,317,359 $ 9,533 $ 19,066 $ 28,600 $ 38,133 $ 47,666 Within 45 Days $ 314,290,184 $ 408,106 $ 816,212 $ 1,224,317 $ 1,632,423 $ 2,040,529 Within 60 Days $ 3,530,667 $ 5,240 $ 10,479 $ 15,719 $ 20,958 $ 26,198 Grand Total $ 1,190,268,590 $ 757,754 $ 1,515,508 $ 2,273,263 $ 3,031,017 $ 3,788,771 Incremental Borrowing Cost - 2% $ 63,994 $ 127,988 $ 191,982 $ 255,976 $ 319,970 Buyer Rebate $ 693,760 $ 1,387,521 $ 2,081,281 $ 2,775,042 $ 3,468,802 11

11 Buyer Support for Higher Enablement Increased Supplier Enablement Will you take a V-Card? We would like for you to accept a V-Card If you would like to become a preferred supplier If you want to continue to do business with us Stronger Message & Support 12

12 Supplier Enablement Process Supplier Selection Supplier Marketing Profile Activation Profile Validation Profile Management Payment & Remittance Supplier Selection Targeting the highest opportunities 100% supplier targeting is also possible. Supplier Marketing Buyer branded campaign with buyer s preferred tone. Store Financial on behalf of buyer markets and contacts all targeted suppliers. Supplier Activation Each supplier logs into the portal to provide credentials, payment preferences and agrees to card acceptance. Profile Validation Each supplier is validated along with validation of card acceptance credentials. The Restricted Authorization data is logged. Profile Management Suppliers are able to self-administer profiles. Each time a profile is modified, the credentials are re-validated. Payment & Remittance Remittance data is delivered to suppliers in customized formats to improve reconciliation efficiency. 13

13 Getting Started Buyer signs NDA and provides supplier list Store Financial conducts supplier analysis Program plan and proposal submitted to buyer Supplier payments optimization agreement signed Co-develop and approve supplier enrollment campaign Approves A/P process and ERP file integration Buyer upfront cost = $0 Leave the Rest to Store Financial 14

14 How can your company optimize payments and earn rebates? 15

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