• Company
    • Company
    • Why Nexus
    • Become a Partner
  • Company

    • Why Nexus
    • Become a Partner
  • Company
    • Why Nexus
    • Become a Partner
Nexus logo Nexus logo
  • Solutions

Use Nexus Your Way

Automate Payments
_______________
Automate Invoices
_______________
Procure-to-Pay
_______________
See Who Uses Nexus
_______________

For Suppliers

Use NexusConnect to track invoices and get paid.

Learn More
  • Integrations

Integrate With Your Tech

MRI
_______________
Entrata
_______________
Microsoft Dynamics GP
_______________
Oracle JD Edwards
_______________
RealPage
_______________
ResMan
_______________
Sage Intacct
_______________
Yardi
_______________
Other Solutions
_______________

Sync Automatically

Nexus integrates with your system of record.

Learn More
  • Resources

Learn More About Nexus

Resources
_______________
FAQ
_______________
Testimonials
_______________
Get Training
_______________

Business Case

See the time and cost savings of using Nexus software.

Learn More
Contact Us Book a Demo Search
Contact Us
Book a Demo
Nexus logo Nexus logo
Back
Contact Us Book a Demo Search
Contact Us
Book a Demo
Search
Contact Us Book a Demo Search
Contact Us
Book a Demo

  • Solutions

      For Suppliers

      Use NexusConnect to track invoices and get paid.

      Learn More
    • Use Nexus Your Way
      • Automate Payments
        _______________
      • Automate Invoices
        _______________
      • Procure-to-Pay
        _______________
      • See Who Uses Nexus
        _______________
  • Integrations

      Sync Automatically

      Nexus integrates with your system of record.

      Learn More
    • Integrate With Your Tech
      • MRI
        _______________
      • Entrata
        _______________
      • Microsoft Dynamics GP
        _______________
      • Oracle JD Edwards
        _______________
      • RealPage
        _______________
      • ResMan
        _______________
      • Sage Intacct
        _______________
      • Yardi
        _______________
      • Other Solutions
        _______________
  • Resources

      Business Case

      See the time and cost savings of using Nexus software.

      Learn More
    • Learn More About Nexus
    • Resources
      _______________
      FAQ
      _______________
      Testimonials
      _______________
      Get Training
      _______________
  • Company
    • Company
    • Why Nexus
    • Become a Partner
  • Company

    • Why Nexus
    • Become a Partner
  • Company
    • Why Nexus
    • Become a Partner

Contact Us Book a Demo Search
Contact Us
Book a Demo

Reduce Your Cost to Pay Suppliers with Automated Accounts Payable Solutions

Blog

Aug 30, 2016

The high cost of paper invoice processing (rightfully) gets a lot of the focus in accounts payable. However, more businesses are taking a hard look at the high cost of paying suppliers with paper checks.

Businesses are recognizing that compared to electronic payment alternatives such as Automated Clearing House (ACH) transactions and cards, checks cost too much, take too long, create too many opportunities for fraud, and provide buyers and suppliers with inadequate visibility.

In fact, paper checks cost up to 30 times as much as ACH payments, the National Automated Clearing House Association (NACHA) reports.

Accounts payable solutions such as NexusPayables support electronic payments.

Electronic payment solutions facilitate payment in the format accepted by suppliers (in some cases, vendors even offer check mailing services). Once invoices have been approved for payment to suppliers, the electronic payments solution automatically notifies the buyer’s financial institution, and sends payments in the supplier’s desired format.

With electronic payments:

  • Liabilities are immediately recorded
  • Reconciliation is streamlined
  • Activity is governed by business rules and permissions
  • Buyers gain better visibility into cash
  • All activities are automatically tracked

These are some of the reasons that electronic payments are winning the battle against paper checks. Fifty-three percent of payments are now made electronically, Ardent Partners reports. A stout 82.1 percent of organizations surveyed by IOFM generate or receive electronic payments via ACH. What’s more, 59 percent of organizations make purchases via cards, and 39.7 percent use EDI.

Importantly, nearly 40 percent of senior finance executives surveyed by IOFM said their business planned to deploy electronic payments in 2015.


      footer curve

      Solutions

      • Automate Payments
      • Automate Invoices
      • Procure-to-Pay
      • See Who Uses Nexus

      Company

      • About
      • Newsroom
      • Bottomline CSR
      • Transparency in Coverage Rule

      © 2023 Bottomline Technologies, Inc. Privacy