Maybe your manual payment system doesn’t seem like a problem. It’s still working just fine, and switching over to an automated digital payment solution may seem like a big, ugly task you can’t motivate yourself to move from the back burner. But once you do invest the time, you can reduce your AP costs, have more flexibility with your cash, and even create a new revenue stream.
Less time. Less cost. More options.
Saving time and resources is the obvious benefit of moving over to e-payment. Digital money transfers take place in minutes, compared to the days it takes to issue and confirm receipt of a paper check. Automation creates order, efficiency and transparency. It also streamlines payment processes. Your vendors can be paid the way they prefer—whether it’s by check, ACH or credit card.
Paybox even offers onboarding assistance, so your suppliers can move onto the system quickly and easily. And your talented people can move on to projects that allow them to add more value.
Schedule payments to maximize your cash on hand.
By coordinating closely with your supply chain and their finance providers, you can set up payment schedules that maximize your access to your working capital.
Add to your bottom line.
Your electronic payment system can also be a profit center for you, through the use of virtual credit cards. By setting your company up to make payments this way, you can take advantage of rebates and other valuable perks you’re currently missing out on.
E-payment offers more than just expediting AP processes. The benefits of this digital transformation are better use of time, better management of resources, and more options. These improvements do more than just make your workday easier. They increase the value of your company overall.