Public Schools Benefit from Electronic Payments
Technology is drastically changing how we do business. Public schools need services that are simple, efficient, and effortless. In this fast-paced, high-tech economic landscape, the pressure is on for public officials to do more with less. Electronic payments enable schools to pay vendors more efficiently and securely. By adopting an automated ePayables solution, schools can digitize their accounts payable process along with other benefits:
- Rebates and Cost Savings
- Payments made through our secure network, will help your school earn cash back rewards. Every payment made via virtual card earns a rebate and quarterly your school receives a direct deposit with your cash back rewards. Your school will also see thousands of dollars in cost savings from process improvement.
- Time Savings
- You can approve and process all of your payments with the touch of a button. There is no need to print, sign, stuff and mail checks. You simply login to Paymerang, upload your payment file, fund your batch, and mark the items as paid and you’re done. Your finance team now has more time to focus on more mission-critical initiatives that will help your school deliver world-class education.
- Faster Payments
- We’ll take care of processing all payments and handling reconciliation and follow-up. Payments are processed the same day we receive funding, so vendors get paid more efficiently.
- Increased Security
- Payments made through our network, reduce the risk of payment fraud. We encrypt all of your payment data and restrict system access using two-factor authentication. Card payments are made with virtual debit cards that are pre-loaded with the exact payment amount. For vendors that prefer ACH payments, we confirm the identity of your vendors based on information provided by you and invite them to sign up for ACH direct deposit through a secure login. Our secure process shields you against phishing attacks and protects against fraud.
- Business Continuity
- New research shows that just over 60% of organizations have a continuity plan in place, but only 37% actually have the necessary technology to enable employees to work from home as part of their strategy. The study reveals a similar gap in technology preparedness in connection to mission critical processes like managing invoices and making payments. Our cloud-based solution is an integral part of school’s business continuity plans because it enables you to make vendor payments from anywhere. Our team of payment specialists ensure payments are made on time, with no disruption, to ensure that the valuable supply chain and your school can continue to move forward.
By partnering with an epayables provider and adopting electronic payments, your school will see immediate cost and time savings and faster payments to vendors. You will also shield your school from fraud and generate cash back rewards. Replacing the tedious and risky process of check processing will allow your school to focus on higher-level initiatives that will support your mission of providing excellent education to students.
If your business is evaluating payment solutions providers, Paymerang wants to speak with you.