When considering A/P Automation, it might be helpful to learn more about how other organizations overcame their challenges and used systems to streamline their operations.
Highly Advanced Business Solution runs the company but not Accounts Payable Department
A leading health publisher and direct-to-consumer retailer of nutritional supplements runs their operation on a Top-Tier Business Solution / ERP System. This ERP product offers a complete suite of applications from CRM to Human Capital Management, from Sales to Service, from Enterprise Resource Planning to Financial Management. They’ve got it all.
“When the CFO suggested we eliminate [OnPayConnect] and use our X ERP to make payments, I told him I would rather quit my job than use that for payments because if ever a tech support need arises, which isn’t very often, but it does happen from time to time, I can always reach someone at OnPay. They always get my problem solved right way. If I had to rely on X ERP’s tech support team, I’d have to wait 2 weeks to hear back from someone just to open a case or ticket. That just doesn’t cut it when you are making payments to vendors. So, needless to say he approved the maintenance invoice right then and there.”
Leading national healthcare insurance and service provider wanted more efficient payments with little impact on overburdened IT Department.
The Treasury Manager of a leading national health care insurance and service provider was seeking an Accounts Payable upgrade to include electronic payments as a means of reducing costs and creating a new revenue stream (source of profit) for the company. They researched outsourcing with the banks and the card processors but learned that doing this would require the existing payment files to be manipulated. That's a bad idea.
Today, this company is earning rebates on Virtual Card payments close to $80,000 annually and have reduced their costs by $28,000, making a total impact of $108,000 per year on the organization.
Fast-Growing Texas city seeks to reduce costs in finance, and get more efficient payments and cash rebates for a new revenue stream.
One of the fastest growing cities in Texas, positioned on a growth curve that extends well into the 21st century has a centralized A/P department for the City’s 25 departments. All use the same SunGard accounting system, but for control, one central payment technology from OnPay Solutions has been employed for many years. The centralized department issued approximately 200 checks each week and it was time to make an upgrade to electronic payments.
“We have enjoyed high security and streamlined processes for issuing checks for the past years,” said the City Finance Manager, “and our City’s older accounting system is not capable of issuing another type of payment, but despite the system limitations, we as a City wanted to explore additional ways to reduce our costs. We elected the solution from OnPay Solutions that will actually help us turn our AP department into a profit center.”
Prominent manufacturer looks for alternative to the expensive and labor-intensive paper check payments and found a solution that also created a new revenue stream for the company.
A $7.5M manufacturer of conduit products for the electrical, telecommunications, utility, and sewer markets wanted a way to stop throwing money down the drain. They were spending more than $35,000 annually on issuing checks payments — not to mention the hours of staff time spent on printing, stuffing and mailing these checks. They have a solution now that reduces costs and earns them cash back each month. It's better than they hoped it would be.
To date, the total annual impact to this company’s bottom line is over $75,000.
Leading restaurant operator of multiple franchises wanted to move from check payments to ePayments in order to reduce cost and generate cash. Finding an automation solution that would allow them to keep all of their local bank relationships was an important deciding factor.
A leading restaurant operator and the largest franchisee of 72 restaurants located in multiple cities in Florida, Illinois, Indiana, Michigan and Missouri has nearly tripled its number of restaurants through a combination of organic growth and acquisition. They needed a solution that would allow them to centralize financial operations but keep each of their local banks.
The total annual impact provided by OnPay Solutions in 2017 was greater than $130,000.
A third party logistic company experienced in moving people, business and products found a solution to “move” from issuing paper check payments to ePayment automation. They found a solution that generates additional revenue in return.
This $200M logistic business is a diversified, cooperative group of domestic and international service companies needed a solution to move them from issuing hundreds of checks each month out of each division to ePayment disbursements. They found a solution that works for domestic and international payments.
“Conservatively I would estimate the solution value to be about $150,000 annually, and we are working daily to grow that,” said the CFO.