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You’ve made the important and transformative decision to implement AP automation to save time, cut costs and reduce fraud risk. There’s just one catch. The success of your payment program initiative will be directly tied to supplier participation.

In other words, your return on investment (ROI) is only possible if your suppliers buy in and get on board with electronic payments. However, it’s not uncommon for AP departments to find that their suppliers resist enrolling in these payment programs.

“There are simple reasons for this,” notes Royce Grayson Morse, IOFM’s Managing Editor. “A big one is that a lot of AR pros feel as though their customers are trying to shift some of their workload onto them. The signup process for electronic payments can be lengthy and complicated. Plus, when each supplier has hundreds — if not thousands — of customers signing up for portals and electronic payments, the supplier can have a difficult time managing it all.”

The key is to select a solution provider that has a proven track record of removing those obstacles. “Signing up for a supplier portal should take only minutes,” says Bill Davis, VP of Supplier Enablement of Paymode-X, Bottomline’s B2B payment network. “The objective is to make getting paid easier, not harder.” 

Download the whitepaper to learn more about how to increase supplier buyer-in through the following topics:

  • Ensuring a positive enrollment process for you and your suppliers
  • Your solution provider should do most of the heavy lifting of supplier onboarding
  • A solid solution should accommodate a supplier’s preferred payment method
  • Keeping your suppliers’ needs top of mind ensures you maintain good business relationships with them
  • A true payment system doesn’t just pay the bills — it provides real business intelligence

“Signing up for a supplier portal should take only minutes,” says Bill Davis, VP of Supplier Enablement of Paymode-X, Bottomline’s B2B payment network. “The objective is to make getting paid easier, not harder.”
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Paymode-X: Premium Benefits Guide

With 450,000+ members, many of your key customers and industry peers are already exchanging electronic payments through the Paymode-X network. Only Paymode-X gives you flexibility to receive electronic remittance in your preferred format, plus an array of valuable features to make managing receivables and collaborating with customers easier. And, you’ll have peace of mind knowing your banking information is stored securely.

Brochure
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The 2023 Guide to Accounts Payable Transformation

This best practices guide outlines the importance of transforming accounts payable from a paper-based, inefficient function into a streamlined, secure and intelligent operation with great value to the larger organization. Read to better understand the value proposition of AP automation, invoice process refinement, and enhanced payment opportunities.

Best practice guide

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