Did you know that some payment providers make millions of dollars each year by delaying payments and forcing suppliers to accept electronic payments?
At Bottomline we operate differently. On top of providing Paymode-X, a leading AP automation solution and fraud-free payments network, we onboard and pay suppliers quickly and with care.
We believe payment type is a choice, and we prefer to show suppliers the value of joining the network over making demands. And, while we know check payments are slow and prone to fraud, if your suppliers opt to be paid by check, we’ll never hold your funds to make money from interest.
Regardless of how your suppliers choose to get paid, when the money comes out of your account, rest assured it will be sent straight away to your suppliers - who aren't waiting 60+ days for payment. In fact, Paymode-X issues electronic payments - and even check payments - the next business day (if received before 3:30 pm EST). That’s reliability your business and your suppliers can count on.
Paymode-X is the largest B2B electronic payment network, with 550,000+ vendors accepting virtual card and ACH payments. On average, our customers report that 50% of their vendors are already in the Paymode-X network when they go live with our payments software.
When you trust your vendor payments to Paymode-X, you’re protected by built-in security that is also used by some of the world’s largest banks. This proprietary software validates vendors against 300 data points and blocks suspicious activity. No other AP automation company has the same monitoring tools in place.
Paymode-X provides full remittance data for your suppliers, so they have the data they need to easily process and reconcile. Plus, they have a dedicated portal to track payments. That helps Paymode-X keep a 97% retention rate for suppliers accepting electronic payments.
A simple log-in every other day allows me access to see what is coming to us so that I don't have to reach out to the management company to see where the payment is. It also gives us insight of where most of our payments come from.
With Paymode, we've experienced faster and more reliable payments, reduced errors, and increased visibility into our financial operations. It has been a game-changer for our business, and we highly recommend it to anyone looking to optimize their payment workflows.
Gain full visibility into every payment you make and every supplier you pay. You can also use Paymode-X while on the go via the mobile app, streamlining payment approvals.
Just send a payments file from your ERP and we’ll issue payments on your behalf.
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