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2022 Top 17 Conferences for Corporate Financial Professionals

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Accounts Payable Automation for Cost Saving and Improved Efficiency

Accounts Payable Automation for Cost Saving and Improved Efficiency

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Cultivating Effective Digital Transformation in AP

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News & Press Releases

Mar 2022
FinTech Global: Medius and OnPay Solutions to strengthen AP automation

FinTech Global reports that Medius, a provider of accounts payable (AP) automation solutions, has acquired OnPay Solutions, an invoice payments provider. Neal Anderson, president and CEO of OnPay Solutions comments: “OnPay Solutions is a payments-led solution that has built deep, enduring relationships with its clients over the last decade. We are delighted to be joining the Medius team and are excited about the opportunity it provides to scale our solution domestically and internationally, as well as the new AP automation opportunities it will create for our existing clients.”

Mar 2022
Medius Acquires US-Based OnPay Solutions to Strengthen ‘Last Mile’ Payment Automation

Medius, a leading provider of accounts payable (AP) automation solutions, today announced the acquisition of OnPay Solutions, an invoice payments provider, for an undisclosed sum. The deal will enable Medius to integrate payment processing – AP automation’s ‘last mile’ – directly into its source-to-pay platform, enhancing its customers’ operational efficiency and strengthening their anomaly, fraud and risk detection capabilities. Founded in 2009 with a mission to improve the lives of accounting professionals globally, and lead by Neal Anderson and Juliet Negrete-Anderson, OnPay Solutions helps its clients streamline AP processes and lower costs by automating invoice payments. The company provides ‘no touch’ virtual card, ACH, check and wire payments for more than 400 customers ranging from mid-sized companies to some of the US's biggest enterprises and institutions.

Mar 2022 Medius Acquires Invoice Payments Firm OnPay Solutions

According to a article, Spend management and eProcurement software company Medius has acquired invoice payments provider OnPay Solutions. “The deal will enable Medius to integrate payment processing — AP automation’s ‘last mile’ — directly into its source-to-pay platform, enhancing its customers’ operational efficiency and strengthening their anomaly, fraud and risk detection capabilities,” the Swedish company said in a news release emailed to PYMNTS.

Mar 2022
Fintech & Finance News: Medius Acquires US-Based OnPay Solutions to Strengthen ‘Last Mile’ Payment Automation

Per Fintech & Finance News, by combining OnPay Solutions’ technology, its network of 360,000 vendors and 40 different banking integrations with its source-to-pay suite, the acquisition strengthens Medius’s ability to automate payment processing through its own platform as well as existing third-party payment partners including Nomentia, Transfermate and Corpay. It will deliver superior operational efficiency for clients by simplifying and streamlining the payments workflow, as well as improving anomaly, fraud and risk detection through true end-to-end visibility into the invoicing process.

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 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.

    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.