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The Latest Industry Insights


Burnouts Looming? Protect AP Departments With Automation

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Are Your Accounts Payable Processes Really Automated?

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3 Reasons Antiquated Invoices Create a Convoluted Payment Process

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News & Press Releases

Jul 2020 & OnPay Solutions: More ‘No-Touch Payments’ For B2B

Read our President and CEO's contribution to the 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."

Jun 2020
OnPay Solutions Partners with Lendio to Provide Lending Marketplace

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.

May 2020
OnPay Solutions & Acumatica Partner to Deliver Payment Automation

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.

Apr 2020 & OnPay Solutions: Optimizing AP & AR Playbook

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.

Mar 2020 & OnPay Solutions: What It Will Take To Really Kill The Check

OnPay Solutions' Founder & COO, Julie Negrete-Anderson, sits down with PYMNTS CEO, Karen Webster, for The Founder Series to discuss what it's going to take to kill the check. In this series, you'll get an inside look into Julie's background in Communications working in tandem with AP departments for large corporations. She saw first hand how time-consuming and outdated paper-based AP could be. Julie deconstructs the reasons why large enterprises hesitate to automate their processes, and why it might be easier to transition to an automated accounts payable solution than they think.

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."

    Download the full case study.

  • 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

    Download the full case study.

  • 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.” 

    Down the full case study.

  • 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.

    Download the full case study. 

  • 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. 

    Download the full case study.

  • 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.

    Download the full case study.

  • 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.

    Download the full case study.

  • 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.

    Download the full case study.