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An optimized ePayables solution requires 5 key components: 1. Simplicity. The ability to work across all ERP Systems, all banking partners, and offer all payment types in the same workflow -- with no major changes in your process. Otherwise it’s just easier to keep writing checks! 2. Flexibility. Absolute payment visibility and control from payment inception to successful completion. 3. Supplier Enablement. Not the once-a-year or once-a-quarter variety but ongoing, efforts to sign up ALL suppliers to accept electronic payments as well as continuous efforts to ensure supplier information and changes are up to date and maintained dynamically in real time. 4. Payment Optimization. Automatically processing payments in the method that delivers the greatest benefit, including lowest transaction cost and highest card rebate at every point in time a payment is made. 5. Payment Support. Not talked about much, but payment questions from you or your suppliers require immediate resolution from a single knowledgeable source. ---------- NVoicePay is the leading provider of simple cloud-based ePayment solutions for the enterprise. Organizations across multiple industries trust NVoicePay to streamline invoice payments, reduce AP costs, and generate new revenue thru integrated AP card rebates. Only NVoicePay offers a simple, secure cloud-based workflow that works with every accounting system and all banking partners, and best-in-class vendor services to assure success. For more information, visit www.nvoicepay.com
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Key Advantages of Optimized ePayables Platform
Presenter: Karla Friede
AP’s Top Concerns
TAPN Benchmark Survey 2013
Payment Landscape
But… ~67% of all corporate payments are still made by paper checks.
# of Payments
Paper ChecksACHCardElectronic Print Check
TAPN Benchmark Survey 2013
Reality of B2B Payments
Why Are We Not Already Optimized?
Why Are We Not Already Optimized?
“The greatest barrier to ePayment adoption is
the enablement of suppliers for payment.” Carol Benson, Glenbrook Partners, 2009
Breaking Down the Silos
Simple SupplierEnablement
Payments Optimized Flexible Payment
Support
Key Elements of Optimizing ePayments
Just send it – no tracking who accepts what
All accounting systems
All banking partners
No major process changes
Simple
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
One workflow for all payments
8
Simple
Cloud-Based…Benefits
Lower capital costs
Instant software updates
Scalable
Volume data storage
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
Flexible
The power of cloud based solutions.
Cloud Based
Solutions
Ease of Implementation
Payment Visibility
Payment Control
Ease of Reconciliation
Cloud Based Solutions
Flexible
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
Flexible
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
What’s Inflexible?Rigid Banking Interfaces:
Pre-set Escrow Amounts
All or Nothing Processing
Underwriting
“Implementation Project Manager”
Dynamic Supplier Enablement + Ongoing Supplier Management
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
Initial Set-Up
• Are all suppliers being contacted?
• How often are suppliers being contacted?
Real Time Updates
• Is the supplier information continuously maintained and updated?
• Who is responsible for documenting supplier information changes?
New Suppliers Continuously Added
• Are new suppliers automatically set up?
• Who is responsible and when is it done?
Payment Optimization
Pay for the greatest return.
Payment Optimization
Dynamic acceptance
matching to
payment priorities.
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
Payment Support
One source for all payment questions.
Software Assistance
Payment Support
Supplier Questions
One source for all payment questions.
Payment Support
Supplier Enablement
FlexibleSimple Payments Optimized
Payment Support
A Non-Negotiable AspectSecurity – Always ask for documentation.
PCI Compliance
SSAE Report
Payment Liability
Key Advantages of Optimizing ePayments
• Cost Reduction• Increased Efficiencies • Error Reduction• Increased Controls and Security• Revenue Generators
Key Advantages of Optimizing ePayments
Cost ReductionReducing the high cost of paper checks and eliminating direct material and time will reduce AP costs by 75%
Key Advantages of Optimizing ePayments
Increased Efficiencies
Less supplier follow up and fewer calls
No maintaining supplier acceptance
Real time reconciliation
Key Advantages of Optimizing ePayments
Error Reduction < 2%An incredible amount of time is spent following up payment errors
Solution provider should be taking on resolving vendor errors
Key Advantages of Optimizing ePayments
Increased Controls and Security
Visibility
Control
Traceability
Zero risk with checks or cards
Key Advantages of Optimizing ePayments
Revenue Generators -- Rebate CardsCards or No Cards?
Traditional cards are unacceptable
AP Tools – Single use virtual card numbers – managed by your solution provider
Optimized ePayments Case StudyThe Situation: 10,000 suppliers and 100,000 payments/year
Current Situation:25% of Payments are ACH75% of Payments are Paper Checks75 – 100 Suppliers Setup for Card
Optimized Solution:60% ACH10% Card30% Electronic Print Check
Current Cost = $267,000Card Rebate = $140,000
Optimized Cost = $ 67,000Card Rebate = $280,000
Cost Reduction = $200k Increase Card Rebate = $140kTotal Benefit = $340k
Optimized ePayments Case Study
70%
5%
25%
30%
10%
60%
AP’s Top Concerns
TAPN Benchmark Survey 2013
Where do you start?
Q & A
Karla FriedeChief Executive Officer
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