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4 Ways AP Automation is Essential for Retail CompaniesRead the article
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Elevate Your Invoice and Payment Processes
Accounts payable (AP) departments are among the most paper-burdened areas in business. We want to make sure you're aware of the benefits that automating your invoice and payments processes could have for your AP team and for your bottom-line.
Exploring Virtual Cards
It's the goal of many businesses to reduce costs and improve their bottom line. We understand being under that kind of pressure and want to help you do both through virtual cards.
The Journey to Payment Automation
Accounts Payable (AP) departments are an area of business that can benefit the most from automation. Our goal is to demonstrate how payment automation solutions can positively impact your business and your AP team.
Choosing the Best Payment Partner
There are a lot of places where your ERP or banking solution falls short. Understandable, since they handle a wide variety of services and can't be experts on everything. This is why businesses like yours are searching for a payment automation provider that has the tools and expertise you need. But finding the best provider can be difficult, right? We created this eBook to assist you in doing just that!
Accounts Payable Best Practices
Are you interested in advancing your Accounts Payable (AP) department? Finance and AP departments are often encumbered by paper processes and manual workflows that require personnel to be in the office. We want to give you the tools and advice you need to move away from paper and forward to e-payments and remote processes.
Escape From B2B Payment Fraud
There are a lot of ways that fraud can affect your business. While you may not be able to stop every attempt at fraud, there are some things you can do to at least ensure that you're not making your company an easy target. Download the eBook to learn more!
Soar to New Heights with ePayments
Are you looking into advancing your Accounts Payable (AP) department via ePayments? It's a project most companies have somewhere on their to-do list. It's easier than most expect. We want to give you the guidance and tips you need to begin the process!
Discover Supplier Payment Methods
There are a variety of B2B payment methods that a finance department can take advantage of. They all have certain perks and risks. We want to help you choose the one that is the most beneficial to your business.
4 Fundamentals for the Future
Time is moving forward and changes in technology and industry standards occur at a rapid pace. Accounts Payable (AP) departments are one of the many areas that are realizing the benefits of bringing in modern technologies and methods. We can help you advance your AP team into the future with the correct tools and guiding fundamentals.
Optimizing AP and AR Playbook
This playbook draws on past studies and credible external sources to document out-of-date invoicing processes' business costs. The report also lays out digital alternatives for more efficient and effective AP, AR and payments operations.
News & Press Releases
Clients referred by OnPay Solutions will process their transactions through Tempus Online, a web-based FX and international payments platform. OnPay Solutions Vice President Robert West said, “We’re excited to broaden OnPay’s offering by enabling clients to process their international AP payments through Tempus Online.” West added, “Partnering with Tempus enables OnPay Solutions to attract new clients and to better serve existing clients.” Tempus Online, launched in 2008, provides spot, forward, market orders, beneficiary management, and reporting capabilities. Tempus Chief Strategy Officer Andrew Woelflein commented, “Tempus is excited to enter the AP automation software space with an innovator like OnPay Solutions. We look forward to supporting their clients’ FX payments.”
“We are always on the lookout for collaborative solutions that can help our clients operate more efficiently and with greater effectiveness,” said Jim Skubic, President of ProVantage Software, Inc. “To that end, we have found OnPay Solutions to fit that role perfectly, reducing both labor input and the cost envelope for several basic and repetitive AP functions.”
In a recent article published by CFO Tech Outlook, our COO and Founder, Julie Negrete-Anderson, dives into the future of supplier payments and accounts payable in a post-pandemic world. "Today, finance professionals need a paperless payment solution that allows them to continue to work from the office or a kitchen table. All eyes are going to be on AP automation for the next few years. It's going to be a race to see how quickly businesses can move away from their current paper-based processes. The magic mix - especially for large businesses - will be finding a way to convert their paper payments and invoices to digital ones without giving up control, changing current systems or approval processes and damaging their relationships with their suppliers."
Highstreet is spearheading change in businesses globally by helping their clients optimize their business through their Oracle ERP system. A leader in Oracle Applications, and an Oracle Platinum Services Partner, led by an executive team with over 25 years of experience, Highstreet is modernizing business process and software. Highstreet offers the full spectrum of services for Oracle Cloud ERP, HCM, CX, Student Management, Student Financial Planning, PeopleSoft, and Oracle eBusiness Solutions. As an authority in Public Sector, including State and Local government and Education, Highstreet has been the implementation partner for more than 70% of all Oracle Student Cloud implementation projects in the U.S. Highstreet also supports Healthcare, Commercial and Financial Services clients as well. With experience founded in industry best practices, Highstreet specializes in helping clients uncover new ways to utilize software to perform more efficiently – saving them time and money.
oAppsNET Group is an Oracle Partner that specializes in business transformation based on the Oracle applications platform. Their consulting team averages of 25+ years of hands-on experience and are well versed in the best business practices to apply to the Oracle ecosystem. The oAppsNET Group uses these skills to implement, maintain, upgrade, customize and integrate 3rd party applications like OnPay Solutions into the Oracle on-premise or cloud ecosystem. They're committed to establishing long-term relationships with their clients and partners by delivering high-value services and maximizing your return on investment in Oracle technology.
In a Nutshell: While certain departments within medium-to-large businesses have largely moved into the modern era, many accounts payable departments have struggled to keep up with evolving technology. OnPay Solutions helps these departments move into the digital age with its convenient solutions that make accounts payable processes faster, easier, and more cost-effective. The company’s virtual credit card solution also provides unparalleled security when it comes to transactions. The virtual cards are generated for a specific transaction and self-destruct once the transaction is complete.
CapX Consulting is an intelligence platform for business innovation. Through a unique approach to consulting and advisory, CapX Consulting enables clients to future-proof their businesses and more effectively adopt technology by providing them with a curated suite of recommended products and services, holistic optimization strategies, and workforce solutions that save money, increase efficiencies, and generate additional revenue streams. “We are thrilled to partner with OnPay [Solutions] and introduce our clients to the incredible benefits of accounts payable automation,” said Lindsay Tsumpes, Co-CEO of CapX. “Our focus is on finding great solutions that can help organizations free up time, optimize operations, and reallocate valuable resources. We were impressed that OnPay’s solutions provide all of these benefits and more without any capital expense, making it a highly accessible tool for a variety of businesses.”
OnPay Solutions has partnered with MetaViewer to expand its solutions suite to enable payments automation for future and existing clients. “This partnership brings together two powerful solutions to provide an automated, state-of-the-art procure-to-payment workflow,” said Nick Sprau, CEO and Chief Marketing Officer at Metafile Information Systems. “OnPay and MetaViewer together will help elevate accounts payable departments to become efficient, competitive and best-in-class, allowing enterprises to make more strategic business decisions and work more cohesively in today’s uncertain business landscape.”
Driving Change through AP Automation: "Even as COVID-19 took the world by complete surprise, it shone the spotlight on the limitations of accounts payable and accounts receivable systems within enterprises. In the current scenario, with most of the workforce working remotely, CFOs and AP departments must look beyond paper checks and move towards digitalization. A well-designed intelligent AP automation solution could automate the payments process and help organizations weather the current economic turbulence while setting them up for success in the future. As one of the renowned names in the accounting space for AP and AR automation, this is where OnPay Solutions makes its mark."
OnPay Solutions, a Top Ten AP Automation Solutions Provider, has partnered with B2Be to expand its solutions suite to enable B2B payments automation for future and existing clients. By partnering with OnPay Solutions, B2Be is adding AP payments automation to complete the procure-to-pay automation process. B2Be provides e-Invoicing and document management solutions, supports EDI document trading and develops a full supply chain suite. If it involves the supply chain, B2BE has a solution to help improve and automate it. B2Be is the most recent of several finance and payments technology companies to partner with OnPay Solutions to enable B2B payments automation.
OnPay Solutions, a Top Ten AP Automation Solutions Provider, has partnered with Transcard to expand its solutions suite to enable B2B payments automation for future and existing clients. “We are excited to partner with Transcard to help their clients automate the accounts payable process and streamline payments,” said Neal Anderson, CEO and President of OnPay Solutions. “Our mission has always been to empower people to improve the lives of accounting departments globally. We are thrilled to provide Transcard with the tools to help accomplish that mission and to add Real-Time Payments and debit transactions to OnPayConnect.”
OnPay Solutions has appointed Jonathan Beckham as its Chief Technology Officer. Jonathan joins the OnPay Solutions team with more than 20 years of experience in software development, project management, and software services technology strategy. He most recently served as Chief Information Officer for Step Up for Students a Forbes 50 non-profit that distributes more than $700 million in education scholarships annually. Jonathan is a cross-functional technology product leader with an entrepreneurial, hands-on approach integrating emotional intelligence, operational excellence and strategic planning. He is also a published author for work with university professors in data interoperability for software collaboration and referenced for best practices for virtual education technology management. Jonathan holds several certifications including Project Management Professional, Ethical Hacker (CEH), Scrum Master, Product Owner and AWS Cloud Practitioner.
OnPay Solutions has partnered with CoreIntegrator to deliver AP payment automation to its existing and future clients. With the addition of OnPay Solutions’ OnPayConnect AP payment automation product to CoreIntegrator’s solution set, CoreIntegrator will now be able to deliver an end-to-end AP automation experience addressing invoice receipt, data extraction, workflow, and the issuance of a variety of payments including virtual cards. CoreIntegrator is an industry leading software platform for the Accounts Payable ‘Procure to Pay’ market. The versatility and ability to ‘Automate Virtually Any Business Process’ has allowed CoreIntegrator Workflow Solutions to be adopted globally by thousands of users in both large and small organizations in almost every industry.
Read our President and CEO's contribution to the PYMNTS.com eBook titled Black Swan. In this article, Neal highlights the massive shift to more No-Touch B2B payments and invoice processing for AP departments. "As a result of this black swan, for B2B transactions, we expect to see more touchless, automated processes to disburse payments that do not require staff intervention. Companies will want to move their money with the press of a button or via a completely automated approach as opposed to a manual process. Today’s black swan will prove to be the tipping point that motivates CIOs and CFOs to overcome their hesitation to move to digital payments, because the risk is seen as too great or the barrier to entry as too high."
Lendio has helped provide $5.8B in Paycheck Protection Program (PPP) funding for 70,000+ businesses across America, and is actively sourcing applications for round 2 funding of the PPP program. “We’ve partnered with Lendio because we realize that we are heavily involved in our clients’ working capital cycles, and we understand that they may have financing needs at times. We understand that their vendors may find value to Lendio’s marketplace as well. We’re happy to be able to provide another quality product,” said Neal Anderson, CEO of OnPay Solutions.
OnPay Solutions has partnered with Acumatica to provide Acumatica users a robust ISV solution that addresses the need for AP automation by automating check, ACH, wire, and virtual card payments. “We believe that OnPay Solutions and their payment automation software offers our users a simple and easy-to-use solution to make faster payments while also enabling virtual card usage to return AP dollars to them. Their focus on enhancing vendor relationships by not taking possession of funds resonates with our relationship centric perspective,” said Christian Lindberg, VP of Payments for Acumatica.
A few months ago, if you were to scroll through the social media pages of Onpay Solutions, a 2019 GrowFL Florida Companies to Watch Honoree, it would have looked a bit different. Now, between their tips for managing accounts payable and automated invoices, you’ll find photos and videos guaranteed to lift your spirits and make you smile.
In collaboration with PYMNTS, OnPay Solutions released the ultimate playbook for AP & AR professionals. Learn how your finance department can speed past the $150B toll of legacy AP & AR processes by shifting to remote work enabled, business continuity assured AP & AR automation. In addition to eliminating $150B in costs, if more business automated their processes, it would eliminate 19+ work hours per week on manually processing paper invoices and stuffing checks into envelopes. Click the link to download the playbook and learn how invoice automation, payment digitization, AR automation & virtual card rebates can save your business over 85% on costs, while generating monthly revenue on AP spend.
Next Generation Email Defense
Cyberwar: Living In The 21st Century Battlespace
P-Card vs. V-Card Webinar
Accounts Receivable Automation Webinar
Automate Accounts Receivable to Accelerate Cash Flow Webinar
High Tech, Low Touch Economy
Unlocking the Secret to Business Continuity for AP & AR
How to Generate Revenue Simply by Making Payments
What is the Future of Supplier & Vendor Payments?
Adapting to the High Tech, Low Touch Economy
Operational Obstacles & How to Overcome Them
How to Automate AP Series: What it Will Take to Kill the Paper Check
How to Automate AP Series: Buyers and Suppliers Tackle the Invoice-To-Pay Digitization Journey
How to Automate AP Series: Exploring the Path of Least Resistance to AP Automation
How to Automate AP Series: Why CFOs Must Invest in a Paradigm Shift
How to Automate AP Series: Virtual Card Adoption Strategies for AP
How to Automate AP Series: Why Eliminating Checks Isn't Enough to Stop B2B Payments Fraud
Use Cases & Industry Examples
When considering A/P Automation, it might be helpful to learn more about how other organizations overcome their challenges and use systems to streamline their operations.
Connor Sport Court International specializes in providing sport surfaces for virtually every type of athletic, park, school, arena or multi-use facility. With high-profile clients such as the NBA and NCAA, the company prides itself on being a market leader, including how it runs its internal processes. Recently, in an effort to make its accounts receivable (AR) department operate more efficiently, Connor implemented Esker’s automated Collections Management solution as well as cloud payment automation software via OnPay Solutions. The results have been transformational — not only for Connor’s business performance but for its employees, and customers around the world.
“Normally, I’d have to be there in person to sign checks with someone else doing the folding and stamping,” said Steve Morrison, Connor's Controller. “There are just so many potential problems within our chain of operation, so not having to be on-site the past few months has been a very big help. Making payments is no longer a concern. I log in to the portal, hit 'send' and off it goes. The solution pays for itself and more."
Our cloud solution accepts a payment file output from any software and takes care of the entire payment workflow delivering back the GL report in the requested format. Not only that, but our software enables the use of Virtual Card payments as a faster and more secure form accepted by a rapidly increasing percentage of vendors. Virtual Card payments, a cost-free payment form, have provided OnPay Solutions users over $10 million in cash rebates to date. OnPay Solutions saves businesses time and money, all while transforming AP departments from cost to profit centers overnight.
"Our partnership with OnPay has truly positioned Compeat to offer an automated AP solution to our restaurant customer base. Not only has the process been seamless, but leveraging the "graybox" design from OnPay has allowed us to maximize operational efficiency and maintain the proper control for our audits. Thanks to this integration, we have been able to deliver remarkable time and expense savings to our customers while simply making their jobs easier." - Clint Blaylock, VP of Payments, Compeat
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.”
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.
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.
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 check 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 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.