Paymode-X
Make and receive secure and convenient electronic payments using a solution trusted by 500,000+ member businesses.
Challenges
Manual paper-based processes which were slow, costly, and error-prone
Relying too heavily on paper checks to pay vendors
Paying too many late fees
Missing out on available early payment discounts
Use Case
Uses Bottomline for Invoice and Payment Automation
How they pay their vendors: ACH, card, wire, and check
Results
The surveyed company achieved the following results with Bottomline's AP Automation solution:
- Improved AP efficiency (i.e. reduce processing time, cost, and errors)
- >75% faster AP processing time
- >75% lower AP processing cost
- >75% fewer AP processing errors
- >75% fewer invoice exceptions
- >75% increase in invoices linked to a PO
- >75% improvement in straight-through touchless processing
- >75% quicker approval times
- >75% fewer late payments
- >75% fewer payments by paper checks
- >75% more early payment discounts captured
- >75% more cash-back rebates earned on AP spend
- Ramp up was quicker than expected
- Seamlessly integrates with our ERP and banks
- Improves straight-through processing
- Makes it easy to get status updates and rollup of AP spend
- Improves AP reporting, budgeting, and forecasting
- Improves the relationships we have with our vendors
- Improves ability to track key AP performance metrics
- Ease of use
- Standardize and automate AP processes
- Enablement of more of their vendors to submit invoices electronically
- Two-way and three-way matching of invoice to PO
- Ability to processes invoices straight-through
- Streamlines exception handling
- Ability to onboard vendors quickly to securely accept digital payments
- Authentication and confirmation of vendor’s identity and bank information
- Providing remittance information to their vendors
- Improves AP reporting
- Ease of deployment/implementation
- Overall “value”
"Mayer Electric realized >75% faster AP processing time with Paymode-X."
GET IN TOUCH
Want to learn more about Paymode-X?
Call us.
Our solution experts are here to help.
+1 (844) 729-6633Chat with us.
Chat with one of our solution experts. We'll recommend the right product to fit your needs.
Let us help you automate your AP processes.
Tell us a bit about you and your business and we’ll get back to you with all the information you need.
GET STARTED