Paymode-X prevents fraud, streamlines processes and creates payer and supplier benefits for the more than 500,000 businesses who make and receive $275 billion in virtual card and ACH payments annually.

Here, you’ll see three case studies of manufacturers making use of Paymode-X to improve accounts payable performance. As nearly 50% of your suppliers are likely already using Paymode-X to get paid, it’s the perfect time to learn more about how we can help take the bottleneck out of your manufacturing supply chain.

Manufacturer of ceramic and glass products

Challenges

  • Relying on paper checks to pay suppliers
  • Hard to get visibility into AP activities
  • Missing out on early payment discounts
  • Difficulty integrating with their ERP

Now

  • Digitized previously manual processes
  • Improved AP efficiency (i.e. reduce processing time, cost, and errors)
  • Scaled AP throughput to meet invoice and payments volume
  • Reduced late payment fees

KPI improvement

>75%

quicker approvals

>75%

less payments by check

>75%

more early payment discounts captured

Manufacturer of biotech equipment

Challenges

  • AP not running as smoothly as it could be
  • Not earning rebates on AP spend

Now

  • Improved AP efficiency (reduce processing time, cost, and errors)
  • Improved relationships with suppliers
  • Found it easier to get status updates and rollup of AP spend
  • Earns cash-back rebates on AP spend

KPI improvement

>50%

less payments by check

>50%

reduction in processing cost

>50%

fewer late payments made

Manufacturer of agricultural machinery

Challenges

  • Manual processes were slow and too many mistakes were being made
  • Difficulty keeping up with the volume of invoices/payments that need processing
  • Hard to get visibility into AP activities
  • Missing out on early payment discounts

Now

  • Digitized previously manual processes
  • Improved AP efficiency (i.e. reduce processing time, cost, and errors)
  • AP no longer needs to authenticate suppliers or store bank information themselves
  • Captured more early payment discountsReduced late payment fees

KPI improvement

>40%

of payments converted to ACH

>25%

reduction in processing errors

>25%

fewer late payments made

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