Unleash the Power of Electronic Supplier Payments
There’s never been a better time to start paying your vendors electronically. From making you more efficient and secure, to enabling greater business agility for growth, and creating new revenue streams, it just makes business sense.
As check fraud grows—according to our recent blog post, nearly 75% of organizations fell victim to check fraud in 2016—ACH transactions are growing. A recent study by Credit Research Foundation (CRF), in partnership with National Automated Clearing House Association (NACHA), reveals that ACH transactions are anticipated to outpace checks as the leading form of payments by 2020, going from 32% to 45% of total payments. However, ACH transactions represent their own challenges for organizations, including the burden of enrolling vendors, updating payment instructions and storing sensitive bank information.
Before taking on the risk and responsibility of managing an ePayments program yourself, consider outsourcing your ePayments to a payments specialist. A recent survey of CFOs around the United States by Zogby Analytics shows that 72% of respondents already have an ePayables solution underway, while 26% are considering one. Of those considering an ePayments initiative, 93% are working to launch a solution within the next 6-12 months.
So what are you waiting for? It’s time to go electronic and start reaping the rewards:
- Reduced risk
- Quicker payments and happier vendors
- Improved compliance and risk management
- Greater operational efficiencies and business agility
- Increased time to put towards focusing on other financial initiatives
- Valuable rebates
At Paymerang, we can get you up and running with a full-scale ePayables program in 30 days or less.
Want to learn more? Schedule a demo with us today.