Transform AP
with Paymode-X:
You’re probably familiar with the benefits that digitizing your invoice-to-pay process could deliver, and perhaps you’ve even started down the path. However, if you’re experiencing any of these issues...
6 Benefits for
Your Business
True AP Transformation Automates the Entire Invoice-to-Pay Process
To truly maximize efficiency, savings, and security, you need a single integrated solution that streamlines the AP process from invoice receipt to payment. Your solution should offer these six benefits:
Benefit #1: Efficiency
Streamline and automate manual tasks with a direct result on your organization’s bottom line.
of businesses say smarter systems are key to AP’s success in the years to come.
76%
Automate the receipt, capture, and digitization of invoice data — while allowing your vendors to submit invoices in their preferred format.
Leverage machine learning and artificial intelligence to reduce the time your AP staff spends on manual tasks like re-keying data, freeing them to focus on activities that grow the business.
Make virtual card, ACH, and check payments in a single solution.
Benefit from immediate payment automation thanks to a network of 400,000+ vendors, plus ongoing campaigns to your vendor community.
On average, Paymode-X customers earn rebates on
of their AP spend,
compared to 10-15%
with other solutions.
30%
Accelerate invoice approvals to reduce late fees and capture discount opportunities.
Offer multiple payment types to enable flexibility with terms and improve control over payment timing.
Receive cash back rebates on your virtual card and Premium ACH spend with no minimum spend threshold required to start earning.
Ensure transactions are always settled using the lowest cost/highest return payment type for each trading relationship with integrated Intelligent Payment Optimization.
Transform AP from a cost center to a revenue driver for the organization.
Benefit #2: Working Capital Optimization
of corporate treasury executives name AP as the function most susceptible to fraud attacks.
90%
Prevent account takeovers and unauthorized account changes with multi-factor authentication and device fingerprinting technology, ensuring accounts are protected if your credentials are compromised.
Eliminate the risk associated with gathering and storing vendor bank account information, as Paymode-X manages this for you in a highly encrypted and secure network.
Protect payments against outside threats thanks to secure vendor onboarding with cutting-edge digital identity and bank account verification methods, plus manual expert reviews.
Avoid reputational and financial damages that result from account takeover, business email compromise (BEC), and other fraud schemes.
Benefit #3: Security
Give approvers easy access to support documents like POs or delivery confirmations during the invoice approval process.
View reports that tie invoices to payments to see the big AP picture.
More easily understand AP’s impact on cash flow.
Get a comprehensive view of invoices, payments, and related documents and activities to make more informed financial decisions.
Benefit #4: Visibility
Treasury executives cite forecasting and cash-flow analysis as
of data visibility and financial intelligence.
the top
benefits
Property management group Taubman chose Bottomline AP automation “to automate and streamline the entire AP and payables process… Most importantly, the technology had to integrate with JD Edwards and enable mobile invoice approvals.”
— Kim Hughes,
VP & Controller
Seamlessly integrate Paymode-X AP Automation with your existing ERP or accounting system.
Initiate all payment types in a single payment file
and conduct reconciliation easily.
Sync vendor, invoice, and payment data between Paymode-X and your ERP in real time.
Eliminate complexity and maintain a single source of truth.
Benefit #5: Seamless
ERP Integration
Paymode-X
retains more than
of network members
year-over-year.
90%
Give your vendors online visibility into their invoice approval and payment status.
Offer secure electronic virtual card and ACH payments and value-add accounts receivable tools, such as electronic remittance in the format of vendors’ choice (CTX, EDI 820, custom AR file, or email).
Provide a more positive payables experience for vendors.
Benefit #6: Improved Vendor Relationships
Bottomline is your trusted advisor with in-depth knowledge of AP best practices, deep experience integrating with hundreds of ERP systems, and a track record of continuous innovation. Paymode-X is Bottomline’s AP automation solution, which brings you the benefits outlined in this piece and many more.
Discover how one organization realized substantial benefits by leveraging
Paymode-X to automate their end-to-end AP process.
VIEW SOURCES
X
Ardent Partners, The State of ePayables 2019: Driving Value in the Age of Intelligence, June 2019.
Bottomline Technologies, “Paymode-X: Success by the Numbers,” 2018.
Strategic Treasurer, 2019 Treasury Fraud & Controls Survey Report, 2019.
Ardent Partners, The State of ePayables 2019: Driving Value in the Age of Intelligence, June 2019.
Bottomline Technologies, “Paymode-X: Success by the Numbers,” 2018.
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...true AP transformation is likely still just out of reach — but it doesn’t have to be.
Late payment fees
Missed discount and rebate opportunities
Payment fraud
Too many paper checks
Separate processes for issuing
different payment types
Disparate solutions for
invoicing and payments
Little to no integration with
your ERP system
Manually hunting down
support documents
Invoices in multiple formats
with multiple workflows