Going Green should have two meanings to the well-informed CFO, Controller and AP Manager...
By now, everyone is programmed to immediately think of the "savings" associated with electronic payments. There are many different ways of saving. You can save on costs, save on paper, save on resources, save valuable time, and help save the planet. Each as important as the next. But have you ever thought about the money you could EARN using ePayments? Let's dive into both benefits of converting fully to Electronic Payment Processing below.
Even elementary school-aged children are being taught that they should print only what must be signed or turned in. Keeping all other data in an electronic format is highly promoted. Regardless of what aspect of migrating to Electronic Payments excites you the most, you cannot deny that the use of technology has made things easier for businesses across the board. Managing your payments and invoicing is no different.
In business accounts payable, migrating to electronic payments and electronic invoicing is highly regarded as providing cost savings. In fact, we recently published an article outlining how document management, electronic approvals, and invoice automation all add up to tremendous savings!
When migrating to a paperless environment for accounts payable, savvy professionals also migrate their payments to ePayments. Electronic Payments are another way to find tremendous cost savings in the accounts payable department.
Think you've read far enough? We haven't reached the "earning" part yet...
What well-informed business-to-business payments administrators and management know is that not only should migrating to electronic payments yield savings, it should also provide "earning" by creating a new revenue stream for the company. This should be built right into that program.
What's the secret? Start a Virtual Card program. A Virtual Card program allows all aspects of the AP process to continue as if a check or ACH payment would be issued. What is different is that a virtual card issued payment EARNS the PAYER cash rebates.
If your company or a company you know has been dragging its feet on migrating to electronic payments because of the overwhelming headaches involved with collecting vendor banking information for ACH, then that company is the ideal candidate for migrating to virtual card payments. The process for start-up of the program is more straightforward in many ways than other onboarding methods and in most cases, the "enrollment" is handled by the virtual card provider.
We have over 160,000 Vendors already enrolled AND already utilizing Virtual Cards. Onboarding has never been easier - start earning cash back on all of your E-Payments.
If all that wasn't incentive enough to encourage you to consider switching over to ePayments and the Virtual Card - let's do a quick recap.
|Will switching to E-Payments help save overall cost?||√||Shifting to E-Payments will save an estimated $12 per transaction.|
|Will switching to E-Payments make the payment process easier?||√||Through electronic payment management and record-keeping, you can easily keep track of payments and invoices.|
|Will switching to E-Payments help our environment?||√||35% (4 Billion) of all trees cut down every year are used for paper. You can help!|
|Will switching to E-Payments help you EARN money?||√||You will immediately cut costs on paper and EARN cash through the Virtual Card.|
|Will switching to E-Payments benefit you and your company?||√√||You will be amazed at the amount of time and money you will save by moving away from paper checks.|
|Improve Payments||Enhance Vendor Relationships||Earn Additional Revenue|