Paymode-X
Make and receive secure and convenient electronic payments using a solution trusted by 550,000+ member businesses.
Challenges
Manual paper-based processes which were slow, costly, and error-prone
Difficulty keeping-up with AP processing volume
Hard to get visibility into AP activities and status updates
Paying too many late fees
Use Case
Uses Bottomline for Invoice Automation
How they pay their vendors: ACH, card, wire, and check
Paymode-X AP Automation Results
Recology rated the overall value of Bottomline capabilities as superior than other AP automation solutions they have used or evaluated.
- Digitized previously manual paper-based processes
- Improved AP efficiency (i.e. reduce processing time, cost, and errors)
- Scaled AP throughput to meet invoice and/or payments volume
- Reduce late payment fees
- Earns cash-back rebates on AP spend
- >50% faster AP processing time
- >50% lower AP processing cost
- >50% fewer AP processing errors
- >50% less invoice exceptions
- >75% increase in invoices linked to a PO
- >75% improvement in straight-through touchless processing
- >50% quicker approval times
- >25% fewer late payments
- Ramp up was quicker than expected
- Improves the relationships we have with our vendors
- 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 ability to track key AP performance metrics
“Our AP team no longer needs to physically chase down the invoice approver in order to make a payment thanks to our AP solution."
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