Paymode-X
Make and receive secure and convenient electronic payments using a solution trusted by 550,000+ member businesses.
Challenges
The business challenge impacting the profiled company’s AP organization that led them to evaluate and ultimately select Paymode-X:
Manual paper-based processes which were slow, costly, and error-prone
Use Case
How they pay their vendors: ACH and check
Uses Bottomline for Payment Automation
Results
The surveyed company achieved the following results with Bottomline:
- 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
- Ease of use
- Standardize and automate AP processes
- 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”
- Improved AP efficiency (i.e. reduce processing time, cost, and errors)
- >25% faster AP processing time
- >75% less payments by paper check
- >75% more cash-back rebates earned on AP spend
“Paymode-X is a cost-effective option that lets us “do more with less” and overcome recent furloughs and reduced hours.”
--Kirstie Evans, Controller
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