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OnPay Solutions Named One of "20 Most Promising Corporate Finance Tech Solution Providers 2017"
"OnPay Solutions is shortlisted as one of the 20 Most Promising Corporate Finance Tech Solution Providers 2017 by CIOReview magazine based on its expertise in providing innovative software solutions and the ability to delight customers and facilitating return on investments through strategic relationships, services and programs," said Jeevan George, Managing Editor of CIOReview, "This recognition will bring more popularity to OnPay Solutions and positive attention from the several other companies."
OnPay Solutions offers turn-key Accounts Payable payment automation solutions that not only integrates with any ERP, Accounting or Accounts Payable Workflow system, it greatly reduces accounts payable costs and fraud risk and can turn a company's payables into rebates revenue.
"By moving from costly paper check to automated electronic payment methods such as ACH, or single-issue virtual credit card (vCard) for vendor payments, costs are reduced, time is saved, risk is minimized and efficiencies are maximized," said Neal Anderson, President and CEO of OnPay Solutions.
Fact: Paper checks are costly and time consuming.
Checks cost on average $3.50 to print and mail and require staff time for printing, stuffing and mailing checks. Reducing the number of printed checks reduces overall cost and allows A/P staff to focus on what really matters — finances.
Fact: Risk is minimized when a company transitions from paper checks to automated ePayments.
Checks are targeted for fraud more often than other payment methods by fraudsters. ePayments issued via OnPay Solutions' systems provide greater security by directly linking a company's accounting system to their bank for ACH payments. Also, single-use virtual card (vCard) accounts add additional security via the controls on card number issuance, handling and specific dollar authorization amounts.
Fact: With payment automation, a company has the ability to turn its accounts payable into rebates revenue.
A company can earn on average greater than 1% cash back of the A/P spend that migrates to the virtual card. Typically, this can average between 25 - 45% of the total A/P spend.
In addition to the benefits mentioned above, OnPay Solutions' experts handle each customer's integration and implementation. Onboarding is quick and there is very little impact on a company's IT department. This allows IT staff to manage an Accounts Payable Payment Automation Project with very little effort, providing time to focus on projects serving other departments as well.
If you would like one of CIOReview (http://www.onpaysolutions.com/
About OnPay Solutions
OnPay Solutions offers business-to-
OnPay Solutions' payment automation products and services help businesses make payments in the most efficient way possible all while allowing them to remain bank-neutral. OnPay Solutions provides software solutions, hosted solutions, consulting services and outsourced check printing services to help business achieve maximum efficiency and even a revenue stream back into their accounts payable department.
Tessa M. Tavares Costa