Find out why B2B companies are making the move from paper checks to electronic payments. And in the process, they are dramatically reducing transaction costs and earning rebates at the same time.
2. Why are companies making the move?
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Higher risk of fraud
Potential for errors
High transaction costs
B2B checks rack
up $25 billion in
processing costs
annually
3. Obstacles associated with migrating away from
checks
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Payment preferences
Fear of fraud
Loss of control
Enrolling vendors
Remittance information
Bank details
Hurdles
5. Vendor
enrollment
program
Your A/P group Enhanced output
Integrated payments
platform
Checks
ACH
Cards
Wires
Positive
pay
Email
notifications
Payment
processing
Vendor file
Calling
Email shots
Letters
Vendor
analysis
Campaign
management
Bank account
management
Vendor
enrollment
A/P staff
Bank account
maintenance
Payment
inquiries
Card
processing
User
maintenance
Password
resets
Technical
support
Support
center
Integrated payments
platform - Support center
ERP
A/P
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Outsource to an integrated payments platform
6. Campaign
design
Vendor
segmentation
Reporting/
analytics
Campaign
execution
Vendor
response
tracking
Vendor
enrollment
Gain a
customized
campaign that is
designed for you
and your vendors
Segment your vendors to
drive the highest electronic
adoption rates
Review
customized
reports that detail
your success and
opportunities
Use proven
methods to mail,
e-mail and call
your vendors
Rely on the
phone to the
widest range of
vendors possible
Receive ongoing
communication
regarding vendor
enrollment adoption
Comprehensive vendor enrollment program is key…
Vendor
segmentation
Campaign
execution
Vendor
response
tracking
Reporting/
analytics
8. Virtual cards are taking the lead
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53%of organizations plan to increase
use of cards for B2B transactions
55%of buyers indicate that they are
more likely to select a supplier
that accepts cards
9. T&E card Pcard One card Ghost card
Single use
virtual card
ePayment option where a single-use number is generated for
each invoice payment in the exact amount with a fixed expiration date
Card number is securely delivered via an email or portal
and is processed through vendors’ existing merchant terminal
Simplified tracking and reconciliation of payments
FIS’ program generates monthly rebates
What exactly is a virtual card?
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10. They
already
accept
cards today
They value
you as a
customer
They want
to maintain
preferred
supplier status
They
perceive their
merchant
account to
be more
secure
Interchange
is already
part of their
pricing
strategy
Why suppliers say, “Yes!” to virtual cards
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12. Zachry
Industrial Inc.
*Source: Fonction Crédit
We have been able to migrate
24% of our payments to ACH and
7% to virtual cards, helping us
reduce 100% of our monthly
payments processing costs
and generate annual rebates.
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13. Russell Sigler
*Source: Fonction Crédit
Virtual card rebates have more than
offset check printing costs and have
allowed our AP department to
generate revenue that goes directly
to our bottom line.
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14. We can create
a tailored ROI for you.
getinfo@fisglobal.com
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