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Streamline receivables with electronic payments and remittance information
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.
Paymode-X Vendor Enrollment
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Accounts receivable benefits
Here’s some more information on how Paymode-X helps you.
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.
Key Paymode-X features for AR departments
video time: 02:56video title: How Paymode-X works for AR departments
In addition to receiving more convenient electronic payments, joining Paymode-X will provide your business with:
Access to a real-time payment tracker
Rich remittance detail in the format of your choice, including CTX
Voice-enabled mobile app for easy access to payment information
My Payers functionality to track and trend your largest customers
Ability to share critical documents like W-9s within the portal
Capability to submit, track and prioritize invoices
Why get paid 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
Payment automation will revolutionize your business
Despite an increase in electronic payments in our consumer lives, businesses still currently receive 63% of their payments as paper checks, according to the Institute of Finance and Management (IOFM).
This resource outlines how joining Paymode-X helps reduce check payments and creates new benefits for your AR department.
