Turning AP into a Revenue Generator. Benefits of automated, card-based payments June 20, 2013

Save this PDF as:
Size: px
Start display at page:

Download "Turning AP into a Revenue Generator. Benefits of automated, card-based payments June 20, 2013"

Transcription

1 Turning AP into a Revenue Generator Benefits of automated, card-based payments June 20, 2013

2 Speakers Robert O Conner, Senior Global Treasury Advisor, Silicon Valley Bank Carmela Montes de Oca, Senior Product Advisor, Silicon Valley Bank (Moderator) Mary Rountree, Vice President, Finance, Implantable Provider Group 2

3 Agenda Review current payment trends Evolution of payment cards Targeting new spend via virtual accounts Client conversation with IPG Q&A 3

4 Executive Summary More organizations focusing on electronic payments Payment costs are now key considerations Organizations are looking to reduce cost and seek increased control Commercial cards help in cutting operating costs, providing expanded control and more 4

5 Polling Question 1 Do you currently use credit cards for indirect payables such as system maintenance, general repair, marketing & operations expenditures? A. Yes B. No

6 Factors Driving Electronic Payment Focus Reduce Procure-to-Pay Transaction Costs 65% Maximize Rebates and Incentives 49% Improve Employee Convenience 44% Improve Employee Productivity 38% Reduce Procure-to-Pay Cycle Time 25% 0% 10% 20% 30% 40% 50% 60% 70% Source: PayStream Advisors, Electronic Payments and P-Cards Adoption Survey, Q

7 Payments Landscape: B2B Electronic Payments Continue To Grow Current annual B2B payments in the U.S.: Approximately $17.2 trillion 57% of B2B Payments 26% of B2B Payments 13% of B2B Payments 4% of B2B Payments 7

8 Payment Choices Have Evolved Existing Spend Capture Check/Wire/ACH Expanded Spend Capture Check/Wire/ACH Virtual Account Numbers Pcard Pcard T&E T&E Technology drives automation of payments 8

9 Polling Question 2 What value do you perceive that purchasing cards can create for your company? A. Earn points or revenue share (rebate) B. Save time in AP process C. Manage cash more effectively (e.g. extend DPO)

10 First A Definition Electronic Accounts Payable (EAP) Cards Electronic Accounts Payable (EAP) cards are non-plastic card accounts used to pay for invoiced goods and services (whether set up as a rotating pool of card accounts, ghost card accounts funded only to pay invoices from specific suppliers, or another arrangement similar in purpose). Source: RPMG Research EAP Terms: Virtual cards Single-use accounts Straight through processing Buyer-initiated payments 10

11 Silicon Valley Bank Virtual Card - Overview Virtual Card Numbers (VCNs) Unique, non-plastic account numbers used for secure purchasing Increased transaction-level control Defined Authorization Controls for Each VCN Number of transactions (single-or multi-use) Transaction amount limit (exact, maximum, or min-max range) Validity period Suppliers and merchant category codes Enhanced Client-Supplied Data Capture up to 30 client-specified data elements with each VCN for enriched data analysis, reconciliation, and allocation Two Interface Options Request website with customizable approval workflows (Purchase Control) Batch file interface (transact Gateway aka: tag) Secure VCN delivery to Suppliers Sent via encrypted to suppliers 11

12 A Closer Look at Virtual Cards / EAP

13 Using Card in Accounts Payable Processing SVB transact Gateway enables clients to seamlessly use card payments for Accounts Payable spend, helping to remove process inefficiencies and generate key financial benefits Benefits Controlled Payments, Reduced Fraud Streamlined Processing Commercial Card Rebate Eligibility Working Capital Improvements VCN Enablers Exact Amount Control: Pay invoices to the penny, avoiding short payments and reducing exception processing Set Validity Period: Defined start and end dates to track and manage outstanding, unprocessed card payments Single-Use: Reduced fraud and supplier misuse, improved transaction risk management Batch File Interface: Automated method to generate card numbers from an ERP or AP system Secure Delivery of Card Numbers: Encrypted delivery from SVB to suppliers Enhanced Reconciliation: Capture invoice numbers, payment reference numbers, etc. to streamline reconciliation and reduce reliance on merchant-provided data Standard 16-digit account numbers: No additional enablement or training is required for card-accepting suppliers 13

14 Virtual Card Numbers: Payable Process Flow The virtual card numbers payment process flow mirrors your existing Accounts Payable setup Initiate Authorize Route Payment Reconcile You receive invoice from supplier You authorize payment AP department uploads payment file to card system Card system generates single-use account number for each transaction Card system s supplier: payment is ready Supplier securely retrieves, processes payment Your system imports settlement file and reconciles 14

15 Supplier Benefits Hypothetical Example Remittance Information: Virtual Card Number: Expiry Date (MM/YY): 07/13 CVC: 297 Cardholder Name: WestdaleWireless AP Cardholder Address: 516 Edgewater Drive Wakefield, MA Purchase Type: Office Supplier Transaction Amount: $ Supplier: ABC Supplier Supplier Address: Sent: Yes Valid From: 6/20/13 Valid To: 7/31/13 Invoice ID: Invoice Description: Office supplies 15

16 Virtual Card Number: Reporting VCN offers additional reporting data to the standard suite of Commercial Cards transaction data, enriching and simplifying your analysis, allocation, and reconciliation processes Reporting Data Analysis Allocation Reconciliation GL 1 IIII GL 2 III III GL 3 III II II For Each Transaction: Rich Commercial Card Transaction Data Virtual Card Number Client Custom Data Fields Capture additional info to enrich data analysis Use this data to automatically allocate to the proper GL Easily track matched expired, and active Virtual cardsmatch transactions to payment instructions by invoice or ref # Combine standard Commercial Card transaction data with virtual card number and custom data fields Capture up to 30 custom data fields at time of card creation for later reporting Create custom reports tailored to your program View trends, monitor spending patterns, and track goals of your card program Track requestor, reason for purchase, meeting ID, project ID, etc. to enrich data analysis Example Use: Track actual meeting spend vs. budget Allocate transactions to the correct accounting codes and cost centers With VCN, record accounting codes or requestor information at time of payment Automate or simplify expense allocation Sample custom data: GL code, cost center Leverage invoice, payment reference, or order numbers to identify transactions Match transactions automatically with purchase/invoice documents to track payment status Sample custom data: invoice number, PO number 16

17 Virtual Card Number: Controlled Spending Purchase Control as a workflow purchase tool When an employee needs to make a business purchase but does not have authorized access to a purchasing card, Purchase Control is an ideal solution. Step 5: With the transaction completed, Purchase Control can facilitate a quick and easy reconciliation process, matching the virtual card number, which is unique to each transaction, in three important places: on the approved purchase request, online payment receipt, and the company s monthly statement. Step #5 Step #1 Step 1: Company s system administrator sets up spending limits for each employee - such as a $3,000 limit for a marketing manager, with purchases above that requiring approval by his or her supervisor. Step 4: Once approved, Purchase Control will generate a virtual card number. Key transaction data that was entered when the purchase request was made such as cost center and general ledger codes is now attached to the virtual card number. The virtual card number can only be used within the parameters of its approval (transaction amount, date, and vendor) providing built-in transaction security. Step #4 Step #3 Step #2 Step 3: Logging in to the Purchase Control application, the supervisor can review and approve or decline the purchase request Step 2: The marketing manager starts the process by going to the Purchase Control application and filling out a purchase request. A request that exceeded his or her limit for example, a purchase of $4,000 would trigger an automatic notifying the supervisor for that approval. 17

18 Polling Question #3 Is your organization leveraging single use accounts to extend the use of your purchasing card program and/or automating your Accounts Payable department? A. Yes B. No

19 A Conversation with IPG

20 Implantable Provider Group (IPG) Fast Facts Founded in 2004 Implantable Device Benefit Management Industry Leader Grown at a 218% compounded annual rate for the past three years Privately owned by its management team and Sequoia Capital, a Silicon Valley based financial partner Annual sales = approximately $50M Mission: To provide implantable Device Benefit Management (DBM) solutions that deliver tangible value to health plans, providers, physicians, manufacturers and patients, which improve quality, affordability and patient access to life saving and life enhancing implantable devices Annual purchasing spend = $20M and approximately $3M of that is indirect spend B2B transactions vendors 20

21 Implantable Provider Group: The Challenge In order to ensure timely payments to its suppliers under the current setup, IPG needs to make a large number of payments to a variety of different vendors. The company s existing vendor set-up process for each payee is cumbersome and inefficient. IPG would prefer a payment tool that is both secure and more efficient as well as electronic. The company would like to increase payments on cards, leading to fewer check payments, reduced paper processing, improved working capital and increased visibility into expenditures. IPG has two major concerns about increasing its current purchasing card program: 1. Compliance/Fraud IPG requires several approvals before releasing payments. 2. Lack of necessary data Credit card data is missing certain key fields including PO numbers and General Ledger information. 21

22 Implantable Provider Group: A Focused Approach Reduce cost through streamlined business processes Gain greater control over discretionary expenses Automate supplier payments Leverage appropriate technology Improve the company s working capital position 22

23 Implantable Provider Group: Execution Strategy Reduce cost through streamlined business processes Expense management automation Gain greater control over discretionary expenses with the SVB Multi Card payment solution Purchasing Payables Ensure compliance to corporate policy Automate supplier payments and reconciliation process Reduce check disbursements Generate cost savings through e-payables 23

24 Implantable Provider Group: Execution Strategy Automate supplier payments and reconciliation process (continued) Executive support for the program Implementation team Define the execution strategy Policy and procedures Integrate, enroll supplier, test, pay and reconcile Supplier enrollment campaign Benchmark 24

25 Implantable Provider Group: The Value In the first three months, we have successfully enrolled over 48 suppliers and have another 20 actively engaged, representing a total of more than $6M in annual payments SVB provides proactive supplier enrollment support Solid methodology and execution based on best practices An alternative payment type to check, completely automated with reconciliation features Average cash flow improvement of 15+ days Cost savings from reduced checks, bank fees, research, etc. Triple-digit growth month-over-month 25

26 Implantable Provider Group Lessons Learned Ensure you have all the necessary controls and data in place to reconcile your transactions Start small enroll one vendor to ensure your processes and controls work prior to open enrollment Consistently improve communication often people do not fully read or understand letters and s. 26

27 Questions?

28 Next Steps: 1. Gain top management support for payment process transformation and partner with key players in the organization to ensure buy-in. 2. Implement strategies to reduce reliance on checks. 3. Demonstrate the benefits that preferred suppliers will receive from commercial card acceptance. (They can expect faster pay and efficiency savings while you will gain control and revenue.) 4. Incorporate commercial card acceptance language into preferred supplier contracts. 5. Institute a set of upfront spend controls (e.g., customized limits based on cardholder, supplier or transaction size) and backend audits. 28

29 Robert O Conner Senior Global Treasury Advisor, Silicon Valley Bank Robert O Connor is a Senior Advisor with Silicon Valley Bank s Global Cash Management team. In this role, he focuses on developing credit card and payments solutions for clients. Prior to joining Silicon Valley Bank, Robert was Vice President of U.S. Commercial Product Sales at MasterCard Worldwide. During his seven years with MasterCard, Robert worked with many U.S. commercial card issuers on developing their commercial card strategies. Robert s previous experience includes various business development roles with U.S. Bank s Corporate Payment Solutions and Merrill Lynch. 29

30 Carmela Montes de Oca Senior Product Advisor, Silicon Valley Bank (404) Carmela Montes de Oca is a Senior Global Treasury Advisor with Silicon Valley Bank serving corporate clients in the Southeast and is a sales manager for the East Coast. In this role, she is responsible for not only building relationships but providing domestic and international treasury management advice, products and services that contribute to clients' continued growth and success. Carmela joined Silicon Valley Bank in 2006, and is focused on delivering treasury solutions for payments & collections and information reporting. Before joining SVB, Carmela was responsible for treasury services at other large banking institutions. Carmela has over 25 years of banking experience serving clients in the commercial and technology industries. She earned a Bachelor of Science Degree in accounting and is a Certified Treasury Professional, a certification granted by the Association of Financial Professionals. 30

31 Mary Rountree Mary Rountree is the Vice President, Finance, for Implantable Provider Group. Mary has been with the company for two years. Prior to that, she was Director of Accounting for Foodbuy, LLC, a division of Compass Group in the food service industry. Mary resides in the Atlanta metro area with her family. She loves spending time with her family on their boat and her personal hobby is running. Vice President, Finance, Implantable Provider Group 31

32 Disclaimers This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from thirdparty sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of FDIC and Federal Reserve System. SVB>, SVB>Find a way, SVB Financial Group, and Silicon Valley Bank are registered trademark. Silicon Valley Bank and IPG are not affiliated

Driving Savings to Your Bottom Line

Driving Savings to Your Bottom Line Driving Savings to Your Bottom Line Commercial Cards Best Practices November 14, 2012 1 Speakers Mark Sievert, Senior Global Treasury Advisor, Silicon Valley Bank Moderator Robert O Connor, Senior Global

More information

JANUARY 2015. TAKE CHARGE: How to Successfully Plan and Deliver a Strategic E-payment and Commercial Card Implementation

JANUARY 2015. TAKE CHARGE: How to Successfully Plan and Deliver a Strategic E-payment and Commercial Card Implementation JANUARY 2015 TAKE CHARGE: How to Successfully Plan and Deliver a Strategic E-payment and Commercial Card Implementation E-PAYMENTS & COMMERCIAL CARDs white paper 2 When it comes to launching an e-payments

More information

Treasury Management. WellsOne Commercial Card

Treasury Management. WellsOne Commercial Card Treasury Management WellsOne Commercial Card $182,000 Average value a company can generate for every $1 million in spending converted to commercial cards, through reduced processing costs, increased discounts,

More information

U.S. General Services Administration. Alternative Payment Solutions Jeff George Vice President Citi Product Market Management

U.S. General Services Administration. Alternative Payment Solutions Jeff George Vice President Citi Product Market Management U.S. General Services Administration Alternative Payment Solutions Jeff George Vice President Citi Product Market Management July 2012 This material is intended for use by the GSA only 2012 GSA SmartPay

More information

Corporate Payables via Virtual Credit Card

Corporate Payables via Virtual Credit Card TREASURY MANAGEMENT Corporate Payables via Virtual Credit Card Presenter: Dan Trbovic Index 1 Industry Evolution 2 Virtual Card Technology 3 Supplier Enrollment 2 Industry Evolution 3 Card Payments: The

More information

Virtual Card Payments for A/P Making Money Paying the Bills

Virtual Card Payments for A/P Making Money Paying the Bills Virtual Card Payments for A/P Making Money Paying the Bills Todd Albers, Senior Payables Program Strategist U.S. Bank Minnesota AFP Annual Conference April 28, 2015 Introduction Todd M. Albers US Bank,

More information

Electronic Supplier Payments

Electronic Supplier Payments Electronic Supplier Payments Optimizing Working Capital through epayments Q3 2013 Featuring Insights on... Current Demand for Electronic Payments Underwritten in part by enett International Utilizing epayments

More information

Driving AP Automation Efficiencies Through Payments Transformation. Minnesota AFP April 19, 2011

Driving AP Automation Efficiencies Through Payments Transformation. Minnesota AFP April 19, 2011 Driving AP Automation Efficiencies Through Payments Transformation Minnesota AFP April 19, 2011 Zorica Stojanovic Vice President Lawrence Heavey Senior Vice President Agenda Payments Transformation Challenges

More information

Automating the Settlement Process

Automating the Settlement Process Automating the Settlement Process Agenda Discussion Outline Why automate payments Options to achieve automation Selecting a service provider Transforming your payment process Future of electronic payments

More information

Virtual Payments, Real Benefits. Underwritten by

Virtual Payments, Real Benefits. Underwritten by Virtual Payments, Real Benefits Underwritten by Vishal Patel, Research Director Ardent Partners September, 2013 REPORT SPONSORSHIP 1 The views and opinions in this report represent those of Ardent Partners

More information

Purchasing Cards: Yesterday, Today & Tomorrow How far they ve come and where they are going.

Purchasing Cards: Yesterday, Today & Tomorrow How far they ve come and where they are going. Purchasing Cards: Yesterday, Today & Tomorrow How far they ve come and where they are going. Susan Ouchterloney, Bank of America Merrill Lynch Ryan Cappannari, Citizens Bank Payment Solutions Date: September

More information

Introduction Meet the Speaker

Introduction Meet the Speaker IOFM Controllers Conference, 2015 Presented by: David Disque, Managing Director Introduction Meet the Speaker Managing Director at CSI globalvcard 15+ years in payments industry Frequent speaker on corporate

More information

Commercial Cards for Accounts Payable

Commercial Cards for Accounts Payable Commercial Cards for Accounts Payable MGFOA 2010 Fall Training Institute September 20, 2010 Donovan Shand Vice President Global Corporate Product Management Comerica Bank Topics for Discussion Current

More information

It all Starts with the Invoice

It all Starts with the Invoice It all Starts with the Invoice Speakers Mel Steals Director of Invoice Automation Solutions PNC Bank Amy Rush Shared Services Controller Courtney Caton Finance Manager Westmoreland Coal Company 1 Agenda

More information

Case Study: Automating Healthcare Supplier Payments

Case Study: Automating Healthcare Supplier Payments Case Study: Automating Healthcare Supplier Payments Robert Raucci, Director-Treasury Operations Thomas Jefferson University June St. John, SVP, CTP Wells Fargo Treasury Management 2 Overview Today s healthcare

More information

Improving Accounts Payable Processes to Deliver Bottom-Line Cost Savings

Improving Accounts Payable Processes to Deliver Bottom-Line Cost Savings VISA COMMERCIAL SOLUTIONS visa accounts payable automation white paper Improving Accounts Payable Processes to Deliver Bottom-Line Cost Savings Author: Nick Marchetti, Senior Business Leader, Visa Inc.

More information

Supplier Payment Optimization with Virtual Card Payments

Supplier Payment Optimization with Virtual Card Payments Supplier Payment Optimization with Virtual Card Payments At a Glance About Store Financial Select Valued Clients Providing card payments across the world since 2004 Manages 650 card programs for 450 corporate

More information

Moving From Paper to Electronic

Moving From Paper to Electronic Bank of America Merrill Lynch White Paper Moving From Paper to Electronic May 2014 Why governments need to get serious about electronic payment solutions. Executive summary With the impact of the recession

More information

Performance Measures that Matter. The benefits of Payables Automation. Laura I. Maydón Visa Latin Trade CFO Events Mexico City, June 16 th 2011

Performance Measures that Matter. The benefits of Payables Automation. Laura I. Maydón Visa Latin Trade CFO Events Mexico City, June 16 th 2011 Performance Measures that Matter The benefits of Payables Automation Laura I. Maydón Visa Latin Trade CFO Events Mexico City, June 16 th 2011 Note: Survey results, research and recommended practice recommendations

More information

Accounts Payable E-Payments Creating Value and Efficiency in the Payment Disbursement Process

Accounts Payable E-Payments Creating Value and Efficiency in the Payment Disbursement Process Accounts Payable E-Payments Creating Value and Efficiency in the Payment Disbursement Process Overview of the CPS e-payments Program The CPS E-Payment Solution enables clients to automate the disbursement

More information

P-Card Fraud Controls. Introduction

P-Card Fraud Controls. Introduction Introduction According to 2013 Association of Financial Professionals (AFP) Payments Fraud and Survey, the second most targeted payment type for fraud was corporate/commercial purchasing cards. 29% of

More information

Southern California AFP Luncheon

Southern California AFP Luncheon Working Capital Unharness your Cash Flow Southern California AFP Luncheon Michael Diekmann Director, Bank of America Merrill Lynch October 10, 2014 Understanding Working Capital Working Capital... = Current

More information

Purchasing Cards. Working to Simplify the Procure-to-Pay Process Q3 2013. Featuring Insights on... The Increased Use of Purchasing Cards

Purchasing Cards. Working to Simplify the Procure-to-Pay Process Q3 2013. Featuring Insights on... The Increased Use of Purchasing Cards Purchasing Cards Working to Simplify the Procure-to-Pay Process Q3 2013 Featuring Insights on... The Increased Use of Purchasing Cards Underwritten in part by Bank of America Merrill Lynch U.S. Bank Purchasing

More information

P-Card: A Payables Tool. Presented by PNC Bank April 28, 2010

P-Card: A Payables Tool. Presented by PNC Bank April 28, 2010 P-Card: A Payables Tool Presented by PNC Bank April 28, 2010 1 Agenda Introductions Payment Processing: Options/Trends Value Proposition Program Types Controls/Reconciliation Card Acceptance Questions

More information

Mike Ventrella, Vice President, Sales

Mike Ventrella, Vice President, Sales Speed, Visibility and Control Best Practice AP Processing in Oracle E-Business Suite Presented by Mike Ventrella, Vice President, Sales Agenda 1. The Dilemma of Manual AP Inefficient Risky Costly 2. The

More information

Transform Accounts Payable Into a Revenue Center. Supplier Payments Optimization

Transform Accounts Payable Into a Revenue Center. Supplier Payments Optimization Transform Accounts Payable Into a Revenue Center Supplier Payments Optimization Supplier Payments Optimization With Virtual Cards Is your p-card program optimizing payments to your suppliers? Does your

More information

Options Are Good. A Treasury Perspective on Driving Value from Payments. Jody L. Lutz Senior Vice President PNC Treasury Consulting Group

Options Are Good. A Treasury Perspective on Driving Value from Payments. Jody L. Lutz Senior Vice President PNC Treasury Consulting Group Options Are Good A Treasury Perspective on Driving Value from Payments Presented to: April 20, 2015 Jody L. Lutz Senior Vice President PNC Treasury Consulting Group (412) 768-2364 Jody.Lutz@pnc.com Traditional

More information

Automating payment processes to deliver bottom line cost savings in a weak economy.

Automating payment processes to deliver bottom line cost savings in a weak economy. VISA COMMERCIAL SOLUTIONS payables automation white paper Automating payment processes to deliver bottom line cost savings in a weak economy. Author: Nicholas Marchetti, Senior Business Leader Commercial

More information

Accelerating Your Cash Flow

Accelerating Your Cash Flow Accelerating Your Cash Flow Invoices On-Line Invoices On-Line (IOL) from Direct Insite delivers on-demand AP, AR and payments capabilities that are deployed fast, with minimal cost and operational impact,

More information

September 2010 Conducted by: MasterCard Advisors Sponsored by: U.S. Bank Corporate Payment Systems

September 2010 Conducted by: MasterCard Advisors Sponsored by: U.S. Bank Corporate Payment Systems The State of Business-to-Business Payment Transformation September 2010 Conducted by: MasterCard Advisors Sponsored by: U.S. Bank Corporate Payment Systems 1.0 Executive Summary In the July 2008 State

More information

The Impact of Payment Automation on Bottom-line Savings

The Impact of Payment Automation on Bottom-line Savings The Impact of Payment Automation on Bottom-line Savings In the current recessionary environment, finance professionals have intensified their focus on working capital as well as improving the bottomline

More information

Ron Sager, Senior Vice President UMB Bank Kansas City

Ron Sager, Senior Vice President UMB Bank Kansas City Ron Sager, Senior Vice President UMB Bank Kansas City Agenda for this session: Introductions Mississippi Education Enhancement Fund Card Accounts Lessons Learned Program Year 2012/2013 and Program Year

More information

U.S. Bank Access Online

U.S. Bank Access Online U.S. Bank Access Online Overview U.S. Bank Access Online provides organizations with real-time access to their commercial card programs anywhere, anytime, within a secured environment. This powerful proprietary

More information

A/P and A/R: Unrelenting Adversaries or Synergetic Partners?

A/P and A/R: Unrelenting Adversaries or Synergetic Partners? A/P and A/R: Unrelenting Adversaries or Synergetic Partners? New York Cash Exchange Adam Kruis Vice President, Working Capital Consultant June 1 st, 2016 Historical adversaries 2 Historical adversaries

More information

Electronic Payments and Card Solutions in 2015

Electronic Payments and Card Solutions in 2015 Electronic Payments and Card Solutions in 2015 Perceptions, Realities, and Strategies Featuring insights on... Trends in B2B Payment Methods Status of Commercial Cards Influential Factors for Organizations

More information

The Benefits of Accounts Payable Integration in Electronic Invoice Presentment and Payment

The Benefits of Accounts Payable Integration in Electronic Invoice Presentment and Payment The Benefits of Accounts Payable Integration in Electronic Invoice Presentment and Payment How to Use this Presentation This presentation will be invaluable to those who seek to articulate the benefits

More information

Working Capital Review: Best Practices in Order-to-Cash and Procure-to-Pay

Working Capital Review: Best Practices in Order-to-Cash and Procure-to-Pay Working Capital Review: Best Practices in Order-to-Cash and Procure-to-Pay Janine Durbin Director; Working Capital Advisor Phone: 312.992.5185 E-Mail: janine.m.durbin@baml.com External Internal Working

More information

Payments Insights. B2B epayments: The Continued Movement Towards Leaving the Check Behind

Payments Insights. B2B epayments: The Continued Movement Towards Leaving the Check Behind Payments Insights B2B epayments: The Continued Movement Towards Leaving the Check Behind Payments InsightS from a Payments Expert Contents 3 The Role of Vendor Enrollment in B2B epayments Adoption 4-5

More information

Paymode-X: Your Best Option for Order-to-Pay Automation

Paymode-X: Your Best Option for Order-to-Pay Automation Paymode-X: The Largest Business-to-Business Payments and Invoicing Network Paymode-X: Your Best Option for Order-to-Pay Automation Why Automate Your Order-to-Pay Process? Order-to-Pay automation frees

More information

Creating a Card-Based B2B Payments Program

Creating a Card-Based B2B Payments Program A report prepared by Global Corporate Payments is published by American Express. Additional information can be found at: http://business.americanexpress.com/us/payment-services is report was prepared by

More information

The Value of Purchasing Cards

The Value of Purchasing Cards The Value of Purchasing Cards Utilizing P-Cards as a Strategic Form of Payment Q4 2012 Featuring Insights on... The Increased Use of Purchasing Cards Underwritten in part by Benefits of Purchasing Card

More information

Speed, Visibility and Control Best Practice AP Processing in Oracle E-Business Suite

Speed, Visibility and Control Best Practice AP Processing in Oracle E-Business Suite Speed, Visibility and Control Best Practice AP Processing in Oracle E-Business Suite Presented by Kevin Ryan, Regional Sales Manager ReadSoft Oracle Solutions Agenda 1. The Dilemma of Manual AP Inefficient

More information

Trends and Best Practices in Electronic Payments

Trends and Best Practices in Electronic Payments Trends and Best Practices in Electronic Payments Trends and Best Practices in Electronic Payments Over the last year, we have seen a fundamental paradigm shift in the strategies and priorities of our

More information

Accounts Payable Trends & Best Practices May 19, 2011 Agenda Typical AP Challenges AP Automation Invoice Management B2B Payments Financial Supply Chain Q&A 2 Top Priorities CFO View Mitigate Risk 43% Forecast

More information

PEOPLESOFT ENTERPRISE PAYABLES

PEOPLESOFT ENTERPRISE PAYABLES PEOPLESOFT ENTERPRISE PAYABLES Oracle s PeopleSoft Enterprise Payables provides automated invoice and payment processing to ensure timely and accurate payment for KEY FEATURES Support shared service centers

More information

CHAPTER 13: PROCUREMENT IN CHAOS - SUPPLEMENTAL MATERIAL

CHAPTER 13: PROCUREMENT IN CHAOS - SUPPLEMENTAL MATERIAL CHAPTER 13: PROCUREMENT IN CHAOS - SUPPLEMENTAL MATERIAL Brian G. Rosenberg From the book The Next Wave of Technologies: Opportunities in Chaos by Phil Simon Electronic Invoicing There is a significant

More information

HOT TREND: ACCOUNTS PAYABLE AUTOMATION

HOT TREND: ACCOUNTS PAYABLE AUTOMATION th ANNUAL ALABAMA TREASURY MANAGEMENT ASSOCIATION SUMMIT HOT TREND: ACCOUNTS PAYABLE AUTOMATION SEPTEMBER 25 Mel Steals, PNC Bank Alex Keene, BBVA Compass Agenda 2 Accounts Payable Goals Accounts Payable

More information

PEOPLESOFT ENTERPRISE esettlements

PEOPLESOFT ENTERPRISE esettlements PEOPLESOFT ENTERPRISE esettlements Relying on paper-based processes to pay for goods and services and to resolve disputes with suppliers can be costly, inefficient, and D KEY FEATURES Automated settlement

More information

Payables Automation: Streamlining Payment Processes

Payables Automation: Streamlining Payment Processes M&T Bank and Visa Present: Payables Automation: Streamlining Payment Processes Featuring Dave Meaney, Senior Business Leader, Commercial Solutions Doug Dunbar, M&T Bank Commercial Card Senior Product Manager

More information

Working Capital Metrics: What Gets Measured Gets Managed

Working Capital Metrics: What Gets Measured Gets Managed Working Capital Metrics: What Gets Measured Gets Managed Janine Durbin Director; Working Capital Advisor Phone: 312.992.5185 E-Mail: janine.m.durbin@baml.com Understanding Working Capital Working Capital

More information

AribaPay Operational Details

AribaPay Operational Details AribaPay AribaPay Operational Details Table of Contents 3 Onboarding and Setup 4 Payment Initiation and Flow 5 Postpayment Process and Responsibilities 6 Third-Party Participation in AribaPay in the United

More information

CORPORATE TRAVEL & ENTERTAINMENT PAYMENT CARDS THE BENEFITS FOR TRAVEL MANAGERS

CORPORATE TRAVEL & ENTERTAINMENT PAYMENT CARDS THE BENEFITS FOR TRAVEL MANAGERS CORPORATE TRAVEL & ENTERTAINMENT PAYMENT CARDS THE BENEFITS FOR TRAVEL MANAGERS Travel and entertainment (T&E) is a critical spend category for nearly all corporations. Typically, it is the second largest

More information

White Paper E-Payments: Critical Considerations for Choosing an Electronic Payments Solution Provider

White Paper E-Payments: Critical Considerations for Choosing an Electronic Payments Solution Provider White Paper E-Payments: Critical Considerations for Choosing an Electronic Payments Solution Provider Written by: Mark Brousseau White Paper E-Payments: Critical Considerations for Choosing an Electronic

More information

Automated Accounts Payable and Commercial Card Management from AOC Solutions

Automated Accounts Payable and Commercial Card Management from AOC Solutions aocsolutions.com Automated Accounts Payable and Commercial Card Management from AOC Solutions 1 I NEXT PAGE» Contact us at 800.692.7087 CFOS IN MOST INDUSTRIES ARE UNDER PRESSURE TO DO MORE WITH LESS.

More information

Smarter Construction Payment and Expense Processing with ecms Connect for Comdata Solutions

Smarter Construction Payment and Expense Processing with ecms Connect for Comdata Solutions Smarter Construction Payment and Expense Processing with ecms Connect for Comdata Solutions Parsons Electric, J.F. Brennan Company, Comdata and Computer Guidance Put Your Money To Work Today! It is important

More information

The New AP Strategy: Leveraging Automation and Working Capital Optimization to Generate Revenue

The New AP Strategy: Leveraging Automation and Working Capital Optimization to Generate Revenue The New AP Strategy: Leveraging Automation and Working Capital Optimization to Generate Revenue Agenda Identify Your Goals Why Automate? The New Payment Strategy Review Your Current Environment Leverage

More information

Cure P2P Blind Spots with Expense Reporting Management Solutions

Cure P2P Blind Spots with Expense Reporting Management Solutions Cure P2P Blind Spots with Expense Reporting Management Solutions Capturing Competitive Advantage Featuring insights on...»» Current Market Trends in P-Card Usage»» Common Problems of P-Card Management»»

More information

Accounts Payable Business Case. The Benefits of Accounts Payable Integration with PayCargo

Accounts Payable Business Case. The Benefits of Accounts Payable Integration with PayCargo Accounts Payable Business Case The Benefits of Accounts Payable Integration with PayCargo How to Use this Presentation This presentation will be invaluable to those who seek to articulate the benefits

More information

The State of Vendor Management

The State of Vendor Management The State of Vendor Management November 20, 2013 Presenter Jeff Ulanoski Lavante Agenda Introductions The Supplier Management Survey Lavante 7 Best Practices for Process Improvement Recommendations What

More information

Commercial Solutions. Client Value Proposition

Commercial Solutions. Client Value Proposition Commercial Solutions Client Value Proposition VISA Corporate Card Program Registered trademark of Visa International Service Association; Visa Canada is a licensed user Current Market Environment Marketplace

More information

RFP Administration In this section, provide contact details, such as who to contact for the RFP, phone number, e-mail, address, etc:

RFP Administration In this section, provide contact details, such as who to contact for the RFP, phone number, e-mail, address, etc: RFP GUIDE THE REQUEST FOR PROPOSAL PROCESS When your organization decides to move forward with the adoption of a new card program or modification of an existing program the Request for Proposal ("RFP")

More information

Introduction. Table of Contents

Introduction. Table of Contents Introduction To stay competitive, you know how important it is to find new ways to streamline and save on your company s operations. Learning how leading companies handle commercial payments can give you

More information

Creating an Efficient & Profitable AP Department

Creating an Efficient & Profitable AP Department Creating an Efficient & Profitable AP Department Kentucky HFMA July 23, 2015 Agenda - AP Challenges - Targeting Specific Areas for Greater Efficiencies - Analyze AP Process to Create Payment Strategies

More information

Electronic invoicing and payment:

Electronic invoicing and payment: Treasury Management Electronic invoicing and payment: Best practices and strategies for recruiting suppliers A Treasury Management White Paper Table of Contents Executive summary... 3 Paper invoicing and

More information

AP Automation Best Practices and Trends Oracle E-Business Suite

AP Automation Best Practices and Trends Oracle E-Business Suite AP Automation Best Practices and Trends Oracle E-Business Suite October 17, 2012 Agenda The challenges of efficiently processing invoices Technology Evolution Invoice Capture ERP Integration Oracle EBS

More information

Control Costs And Track Spending ExpenseAnywhere.

Control Costs And Track Spending ExpenseAnywhere. Control Costs And Track Spending ExpenseAnywhere. Today s organizations are in a constant battle to lead the pack. With a down economy and a customer centric focus companies are trying to put their best

More information

Operational and Strategic Benefits in Automating Accounts Payable

Operational and Strategic Benefits in Automating Accounts Payable Operational and Strategic Benefits in Automating Accounts Payable REVISED 9/12 Published April 2013. Copyright 2013 by The Institute of Financial Operations All rights reserved. Reproduction or transmission

More information

Unleashing New Working Capital Potential with Order-to-Pay Automation

Unleashing New Working Capital Potential with Order-to-Pay Automation NOVEMBER 2008 Unleashing New Working Capital Potential with Order-to-Pay Automation Executive Summary As organizations automate their order-to-pay process, many discover an unexpected and often unplanned

More information

Generate Electronic Payments in Accounts Payable

Generate Electronic Payments in Accounts Payable Generate Electronic Payments in Accounts Payable IMPORTANT NOTICE This document and the Sage 300 Construction and Real Estate software may be used only in accordance with the Sage 300 Construction and

More information

resource center/technology series

resource center/technology series resource center/technology series Accounts Payable Automation Technology: Procurement Cards The Perspective of a Practitioner By Craig Simpkins, CAPP The Institute of Financial Operations 615 East Colonial

More information

T&E Expense Management: The Case for Mandating Your Card Program. August 19, 2009

T&E Expense Management: The Case for Mandating Your Card Program. August 19, 2009 CORPORATE PAYMENT SYSTEMS T&E Expense Management: The Case for Mandating Your Card Program August 19, 2009 Introduction The challenges and opportunities for organizations of all sizes have changed dramatically

More information

Transform Invoice Management with a Hybrid of Cloud and On-Premise Software

Transform Invoice Management with a Hybrid of Cloud and On-Premise Software SAP Brief SAP Business Suite SAP Invoice Management Objectives Transform Invoice Management with a Hybrid of Cloud and On-Premise Software Achieve a higher level of performance Achieve a higher level of

More information

About the Speakers Henry Ijams, CAPP/CPM

About the Speakers Henry Ijams, CAPP/CPM Electronic Payments: Six Supplier Savvy Steps Toward epayment Success About the Speakers Henry Ijams, CAPP/CPM Managing Director PayStream Advisors, Inc. Mr. Ijams' 25 years of experience focuses on trends

More information

University Transformation & Process Improvement through Automation

University Transformation & Process Improvement through Automation University Transformation & Process Improvement through Automation July 29, 2015 By: Jason Grunin University of Tulsa Session Description Discuss how to structure a successful Commercial Card program,

More information

Electronic Invoice Adoption Benchmark Report

Electronic Invoice Adoption Benchmark Report Electronic Invoice Adoption Benchmark Report Based on the Results of PayStream s einvoice Survey Q1 2013 Featuring Insights on... Centralized vs. Decentralized AP Operations Underwritten in part by AP

More information

Product Brief. Intacct Financials & Accounting. Intacct General Ledger

Product Brief. Intacct Financials & Accounting. Intacct General Ledger Product Brief Intacct Financials & Accounting Intacct Financials and Accounting includes Intacct General Ledger, Intacct Accounts Receivable, Intacct Accounts Payable, Intacct Cash Management and Intacct

More information

BEST PRACTICES IN AP AUTOMATION

BEST PRACTICES IN AP AUTOMATION MINUTE READ TIME WHITE PAPER ACCOUNTS PAYABLE BEST PRACTICES IN AP AUTOMATION Consolidating Workflow Outside ERP Systems www.esker.com BEST PRACTICES IN AP AUTOMATION Consolidating Workflow Outside ERP

More information

ACCOUNTS PAYABLE AUTOMATION FOR SAP

ACCOUNTS PAYABLE AUTOMATION FOR SAP ebook: Accounts Payable ACCOUNTS PAYABLE AUTOMATION FOR SAP How Adding AP Workflow Automation to Vendor Invoice Processing Can Make Your AP Operation Best-in-Class Accounts Payable Automation for SAP 2

More information

www.aocsolutions.com Automated Accounts Payable and Commercial Card Management from AOC Solutions

www.aocsolutions.com Automated Accounts Payable and Commercial Card Management from AOC Solutions www.aocsolutions.com Automated Accounts Payable and Commercial Card Management from AOC Solutions Payments are the core of our business; we monitor and understand the ever-changing landscape of the industry.

More information

Pay Your Vendors by Single-Use Credit Cards and Improve Your Cash Flow Management

Pay Your Vendors by Single-Use Credit Cards and Improve Your Cash Flow Management Pay Your Vendors by Single-Use Credit Cards and Improve Your Cash Flow Management By Shyam Kapoor Prisio Technologies LLC Introduction Consumers have been using single-use or a virtual credit card for

More information

Accounts Payable. How to Cut Costs and Improve Invoice Processing Efficiency

Accounts Payable. How to Cut Costs and Improve Invoice Processing Efficiency Accounts Payable How to Cut Costs and Improve Invoice Processing Efficiency Contents 3 4 Introduction The Challenges of Invoices 5 The Goals of Invoice Automation 6-7 The Key Elements of Invoice Automation

More information

PEOPLESOFT esettlements

PEOPLESOFT esettlements PEOPLESOFT esettlements Relying on paper-based processes to pay for goods and services and to resolve disputes with suppliers can be costly, inefficient, and D KEY FEATURES Automated settlement process

More information

Accounts Payable Automation Benefits

Accounts Payable Automation Benefits W H I T E P A P E R Accounts Payable Automation Benefits Facts and best practices by leading analysts Purchase to Pay by ReadSoft. Automated accounts payable processing Author:Paul Steele, Wille Dahl,

More information

Streamlining Accounts Payable with Higher One Steve Petno, Higher One John Jamieson, WEX

Streamlining Accounts Payable with Higher One Steve Petno, Higher One John Jamieson, WEX Streamlining Accounts Payable with Higher One Steve Petno, Higher One John Jamieson, WEX Why Higher One? Our Focus: Born and raised in Higher Education Streamlining campus operations Enhancing your service

More information

Invoice automation: Three keys to AP prosperity

Invoice automation: Three keys to AP prosperity Invoice automation: Three keys to AP prosperity SSO name SSO title Solutions Sales Group Date 2014 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. What if you could... achieve a 37% risk-free

More information

Treasury Accounts Payable Financial Systems 53% Audit/Compliance Budgeting/Planning

Treasury Accounts Payable Financial Systems 53% Audit/Compliance Budgeting/Planning Corporate Travel & Entertainment Payment Cards THE BENEFITS FOR FINANCE DEPARTMENTS Corporate cards provide distinct benefits for no fewer than five different functions within a finance department treasury,

More information

CORPORATE LIQUIDITY. AVANTGARD epayment Services Leaving the check behind with an integrated payments service

CORPORATE LIQUIDITY. AVANTGARD epayment Services Leaving the check behind with an integrated payments service CORPORATE LIQUIDITY AVANTGARD epayment Services Leaving the check behind with an integrated payments service B2B CHECKS RACK UP $25 BILLION IN PROCESSING COSTS ANNUALLY AFP Electronic Payments Survey Leaving

More information

Improve Business Efficiency by Automating Intercompany Transactions

Improve Business Efficiency by Automating Intercompany Transactions SAP Brief SAP s for Small Businesses and Midsize Companies SAP Business One Objectives Improve Business Efficiency by Automating Intercompany Transactions Streamlined intercompany transactions and integration

More information

Accounts payable automation benefits. Facts and best practices by leading analysts

Accounts payable automation benefits. Facts and best practices by leading analysts Accounts payable automation benefits Facts and best practices by leading analysts Evidence of benefits in accounts payable automation Research-based evidence shows that automation is yet again the way

More information

5 Ways Senior Finance Executives are Improving Visibility Across the Procure-to-Pay Cycle

5 Ways Senior Finance Executives are Improving Visibility Across the Procure-to-Pay Cycle 5 Ways Senior Finance Executives are Improving Visibility Across the Procure-to-Pay Cycle An IOFM white paper, sponsored by 5 Ways Senior Finance Executives are Improving Visibility Across the Procure-to-Pay

More information

Automating Accounts Payable. Leaving the Paper Jam Behind. 1.800.682.2187 www.gexchange.com info@gexchange.com

Automating Accounts Payable. Leaving the Paper Jam Behind. 1.800.682.2187 www.gexchange.com info@gexchange.com Automating Accounts Payable Leaving the Paper Jam Behind 1.800.682.2187 www.gexchange.com info@gexchange.com FROM PAPER TO ELECTRONIC THE EVOLUTION OF AP PAYMENT PROCESSING For years now, accounts payable

More information

MD AOC Project Introduction to PeopleSoft

MD AOC Project Introduction to PeopleSoft Insert Pictures that represent Customer on Master slide MD AOC Project Introduction to PeopleSoft PeopleSoft Vendor Management Agenda Introduction Session Objectives PeopleSoft Overview Key Features Business

More information

A Compelling Case for AP Automation in the Cloud

A Compelling Case for AP Automation in the Cloud WHITE PAPER A Compelling Case for AP Automation in the Cloud ROCC Computers Ltd Stanford Gate South Road Brighton BN1 6SB Tel: 01273 274716 Email: info@rocc.co.uk Author: Andrew Westhead Date : February

More information

Payment Strategies to Maximize Cash Flow for Healthcare Providers

Payment Strategies to Maximize Cash Flow for Healthcare Providers Payment Strategies to Maximize Cash Flow for Healthcare Providers Personal banking has radically changed over the past twenty years. How often do you write a check? Many people do not even know where their

More information

Maximize return on investment with supplier invoice automation

Maximize return on investment with supplier invoice automation Viewpoint paper Maximize return on investment with supplier invoice automation Transform the procure-to-pay process Table of contents 1 Streamline the P2P process 1 Automate supplier invoicing 3 Automate

More information

PEOPLESOFT EXPENSES & MOBILE EXPENSES

PEOPLESOFT EXPENSES & MOBILE EXPENSES PEOPLESOFT EXPENSES & MOBILE EXPENSES Oracle s PeopleSoft Expenses is a comprehensive travel expense solution, which streamlines and automates travel spend KEY FEATURES Best practices in expense Mobile

More information

Exploring the Spectrum of Accounts Payable Automation Solutions

Exploring the Spectrum of Accounts Payable Automation Solutions Exploring the Spectrum of Accounts Payable Automation Solutions Authored By: Overview: As companies begin optimization efforts within their Accounts Payable (A/P) processes, at some juncture, the selection

More information

Collaborative Finance Operations

Collaborative Finance Operations Solution in Detail Finance Executive Summary Contact Us Collaborative Finance Operations Achieve Superior Finance Operations Achieve Superior Finance Operations Flexibility for Your Changing Business Today

More information

Embracing Electronic Accounts Payable Using the SAP Financial Services Network Leonard Schwartz Director, Solution Management SAP Financial Services

Embracing Electronic Accounts Payable Using the SAP Financial Services Network Leonard Schwartz Director, Solution Management SAP Financial Services Embracing Electronic Accounts Payable Using the SAP Financial Services Network Leonard Schwartz Director, Solution Management SAP Financial Services Network SAP Labs LLC LEARNING POINTS Discover how Electronic

More information