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Paymode-X Payment Network For Payers

Quickly transition from paper to electronic payments with a secure, cloud-based payment network for businesses. Used by more than 385,000 organizations, the Paymode-X payment network delivers measurable financial returns through a mixture of cost-savings, productivity gains and cash Dividends.

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Anchor: Overview

The Challenge

Finance executives are tasked with reducing costs, streamlining processes, turning AP into a profit center and scaling for business growth. But legacy ERP systems, paper-intensive processes, and manual workarounds aren’t up to the challenge. Forward-thinking leaders are increasingly turning to payments networks to extend their existing technology into the digital future of electronic transactions.

Our Solution

By joining the Paymode-X payment network, organizations of all sizes connect to other members who have streamlined their payments and receivables processes, boosted productivity and reaped cost savings.

Payers use Paymode-X to make electronic payments, mitigate fraud risk, reduce paper and labor-intensive processes, and earn Dividends. Leveraging machine learning, the Paymode-X Intelligent Engagement Model® takes the burden of Vendor enrollment and bank account maintenance off of the AP staff, and drives maximum adoption of electronic payments and earns Dividends.

Vendors receiving payments enjoy an easy-to-use system that empowers them to manage their online payment profile, provides better visibility to upcoming payments and delivers detailed remittance advice that enhances receivables processing.

Anchor: Resources

On-Demand Webinar

The State of ePayables 2017: The Convergence of Cash, Suppliers and Intelligence

White Paper

Treasury’s Role In Transforming Accounts Payable Into a Profit Center

Datasheet

Supplement Your Card and Electronic Payment Programs with Paymode-X

Anchor: Benefits

Benefits

  • Convert costly, fraud-prone paper checks to secure, electronic payments
  • Leverage the Paymode-X network and world-class Vendor onboarding services to enroll, support and maintain Vendors, reducing the burden on AP staff
  • Eliminate the risk of validating and storing Vendor bank account details
  • Provide Vendors with a choice of remittance formats and satisfy Vendor requests with Vendor support
  • Earn Dividends on more AP spend
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Functionality

Paymode-X is a cloud-based payment network that delivers prompt, secure electronic payment information to more than 385,000 participating organizations, processing over $200 billion annually. Organizations often find that more than 40% of their targeted trading partners are already enrolled, which accelerates their move to automated payments. The Paymode-X Intelligent Engagement Model® further segments, enrolls and authenticates Vendors to migrate even more payments to electronic.

By integrating with any ERP system and leveraging existing bank relationships, Paymode-X creates a powerful network between Payers and Vendors – today and as business needs grow and change.

Paymode-X processes over $200 billion annually

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Customer Testimonials

"Thanks to the high levels of payment automation, cash-back payments, and early payment discounts we capture, AP is no longer viewed as a cost center, and I can focus on strategic financial initiatives."
Jerry Johnson, Senior Director of Finance, Daiken Applied Americas
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