Take manual tasks and cumbersome payment reconciliation out of your AR process flow with Paymode-X. Deliver and track invoices, receive remittance detail in your preferred format, automate cash applications and share critical tax and payment documents with customers.
Paymode-X maintains a secure network for all members, significantly reducing the risk of payment fraud. We prevent account takeover and unauthorized account changes, secure your critical bank data, protect payments from outside threats and even make check payments more secure.
Paymode-X provides advanced visibility to incoming payments to better manage your cash flow. Take advantage of our secure collaborative portal to drill into payment detail or request payment status online. A custom mobile app gives you access to this critical information on the go, complete with easy-to-use voice commands.
Eliminate the need to wait for checks to arrive in the mail and manually apply cash. Get paid easily and conveniently by virtual card and ACH.
Paymode-X customers see major gains
50%
reduction in days sales outstanding for a majority of suppliers
50%
faster processing time for most suppliers using Paymode-X
50%
reduction in slow check payments for a majority of our customers
Key benefits for AR departments
In addition to receiving more faster, more secure electronic payments, joining Paymode-X will provide your business with AR automation gains including:
Real-time payment tracker
Never wonder about when your payments will arrive, with easy-to-use tracking capabilities.
Better remittance
Get access to more robust information to aid receipt and reconciliation, including CTX.
On-the-go payments
Access your tracker, remittance, reporting and much more in our voice-enabled mobile app.
Invoice software
Submit, track, and report on invoices from a single user interface with all your payers.
Why should you receive payments through Paymode-X?
“Paymode-X has vastly improved the way we get paid. We have an entire team dedicated to tracking down unpaid invoices. This is a great timesaver and the reporting capabilities give us real-time visibility into the overall process – absolutely essential when dealing with a large volume of invoices.”
—Associate Manager, Global Data Storage and Management Organization
Essentially, AR automation is software and solutions that take the manual steps and time out of your day-to-day accounts receivable processes. AR automation software should automate the process of invoicing customers, receiving and reconciling payments, and running business-critical reports.
You can read more about how Paymode-X automates AR by scrolling up on the page you're on right now.
What are the core challenges of AR Automation?
There are a many small challengs associated with automating AR, but the biggest ones tend to be internal adoption of a solution and getting your payers to pay you electronically via methods like virtual card and ACH. The latter is what Paymode-X can help solve, as we onboard payers who are interested in helping you automate by paying via these methods.
For more information on AR challenges, visit our resource center.
How do I join the network as a supplier?
It’s as simple as going to our enrollment page and signing up! You just need some basic information, including tax ID number, and you can complete the enrollment in 15 minutes.
Why should I receive digital payments through Paymode-X?
We strive to make it easy for your payers to pay you quickly, securely and with the remittance data you need to make receipt and reconciliation simple. Our ACH and virtual card payments allow for just that, with huge improvements over the timelines and remittance you receive through check payments.
What is Paymode-X Cash Application?
It's an easy way to keep track of multiple payment types within one easy-to-use, secure solution for faster, more efficient matching of payments to remittance advice emails, customers and invoices, and it's available for suppliers accepting virtual card and Premium ACH payments. You can learn more here!
