video time: 01:30video title: How AP Automation Overcomes Challenges
The many benefits of accounts payable automation
We make automating invoices and payments easy and attainable so you can realize huge business benefits.
Better supplier enrollment
It's likely that half of your existing vendors are already being paid through Paymode-X, and we do effective--not aggressive--enrollment to bring the rest on board.
Save time and money
Efficiency is the name of our game, and we can cut processing costs and time by 75%. That saves stress on your staff and allows your AP organization to focus on what matters.
Unyielding fraud protection
We protect every payment you make from every kind of fraud imaginable. Our multi-layered security means we allow zero fraud on over $400 billion in payments every year.
(Network) size matters
Our network of over 550,000 businesses paying and getting paid has been building steadily for two decades, which means you can trust that we'll be here right now and for a brighter tomorrow.
Big $$$ rebates
We give you more money back on every payment you make, so you can put more money back into your business. Our ACH and virtual card payments give customers 50+% more cash back than any competitor.
Get up and running faster
Paymode-X isn't a "sign here, start in a year" solution. We can get you up and running within about 30 days, so all the efficiency, rebate, and security benefits happen faster than you'd expect.
What AP Automation should do for you
Speed up invoice processing and approvals
Make every payment faster and more efficient
Shut the door on fraud and the risk of lost checks
Earn substantial cashback rebates on every payment
You should realize the benefits Paymode-X AP Automation offers in any automation solution you pursue. Learn what you should be looking for with our easy-to-read guide.
Improve your invoices, perfect your payments, or do it all
Efficiency, security and visibility are standard with Paymode-X. You can address either the combined invoice and payment challenges your business is facing or just your payment challenges, depending on your needs.
Invoice Automation
Put the cost, time, risk, and errors you've dealt with for way too long where they belong. Digitize, automate, and streamline the invoice lifecycle from receipt through approval and enjoy efficient workflows, enhanced governance, and better operational visibility around both PO and non-PO invoices. In short, Paymode-X makes life easier for you.
Checks are a drag on your business efficiency, security, and supplier relationships. Automate those troubles away with Paymode-X, which offers virtual card and Premium ACH payments that save time, earn more valuable cash-back rebates, and protect both your suppliers and you from the scourge of fraud. Better payments are attainable.
Automate and process all your payments in ONE place
You’ve scrolled this far, so we’re guessing you’d love more information on how automating payments and your core AP processes can help you. Well, AP professional, we’re not going to let you down.
Offers the gold standard and the most familiar digital payment type. ACH payments through Paymode-X allow businesses to streamline processes, eliminate the fraud risks associated with check payments and capture previously unrealized rebates. Work with a payment format your suppliers know and welcome because of its potential for robust remittance and speed.
Embrace the fastest-growing payment type and gain access to unparalleled payment speed, security and rebate enhancements. Our virtual card payments allow you to process payments straight-through in a secure, swift manner, allowing your vendor to collect their cash quickly and with the detailed remittance they need.
Allows you to pay businesses in 53 countries and 26 currencies utilizing your Paymode-X membership. Using EFT or SWIFT standards, make payments seamlessly across borders without the headaches and complications of trying to pay through disparate methods and payment types. Gain the benefits of Paymode-X security for all your payments.
Provides a seamless, straightforward way to automate business payments to consumers in the format they prefer to be paid in. Consumers expect convenience, security and ease-of-use when being paid by businesses, and regardless of whether you’re paying customer rebates, student reimbursements or tenant refunds, Paymode-X B2C makes it easy.
Paymode-X is rated as "Best In Class" for Payment Automation software
“Faster payments, mobile, and integration. Mobile capabilities are critical for our AP strategy, especially for executives who travel often and require the ability to easily access, review and approve invoices right from their phones.”
We know there's a lot to learn about Paymode-X and AP Automation, which is why we provide answers to your frequently asked questions.
What is AP Automation?
Let's start with a simple one, eh?
Accounts payable automation is a time-and-cost-saving method of streamlining and securing traditional paper-heavy, manual AP processes. Essentially, you are able to use AP automation to digitize everything from invoice receipt and processing to supplier payments, taking traditional challenges and weaknesses for your business and turning them into strengths.
Why is AP Automation important?
The cost of inefficiency and paper continues to rise, and the risks posed by late payments and payment fraud have never been higher. Automation is critically important because it saves time, saves money, helps reduce the risk of fraud, and has major impacts in terms of efficiency,
How does Paymode-X protect against invoice and payment fraud?
Great question! While we don’t reveal specific solutions and systems because it would provide the bad guys with valuable intelligence, we offer multiple layers of technology, expertise, and tactics to shut out fraud. These range from vendor authentication to stopping business email compromise and insider fraud. That’s how we’ve manage to operate a zero fraud payments network, and it’s how we ensure both payers and suppliers are protected from bad actors when making and receiving both invoices and payments.
Our capabilities are growing all the time, but we currently offer the ability to make and receive virtual card, enhanced ACH, business-to-consumer, international, and both managed and directed check. For a closer look at some of these payment types, check out this resource.
What industries do you provide AP automation for?
Paymode-X is successfully used across all industries (500,000 businesses cut across a lot!) and can integrate with any ERP.
We have had great success automating accounts payable for health care, higher education, government, manufacturing, and real estate companies, but our deep experience and the versatility of our solution makes us a good fit for virtually any business.
What companies use Paymode-X AP Automation?
The short answer is: Every kind you can think of. We serve mid-market to enterprise-level businesses and banks with our solutions.
To learn more about some of our customers, visit our Resource Center and check out our customer success stories!
