Beyond Checks, EFT/ACH, & Wires

What am I talking about? An alternative payment method. Electronic payment through the VISA (or other credit card) Network.

Who can set this up?: I know of Commerce Bank and PNC, although there may be more.

Here are a few points:

* Vendor pays a 2% cost for accepting payment
* and 1% gets paid to your company monthly.
* Payment program can be done separate from other Automation products
* Some companies start with the payment by card only can bring in revenue to pay for further solutions.

Robert Ruhno

Founder & Social Media Manager

Accounts Payable Professionals Group

I invite you to join our group today! Click Here

Dynamic Discounting

Definition: payment terms that can be established between your company and your vendor to accelerate payment in return for a discount. Dynamic Discounting includes the ability to agree upon terms that vary the discount according to the date of early payment. The earlier the payment, the greater the discount.

Who offers this: Taulia, TradeShift, Commerce Bank, and more.

* Automating Discount Capture on 100% of invoices
* When invoice is approved the supplier is notified and can opt to be paid early
* Supplier gets fast inexpensive access to cash
* And your company gets outstanding returns
* Improves profitability
* and strengthens supplier relationships along the way.

Here are a few videos I found:

Robert Ruhno

Founder & Social Media Manager

Accounts Payable Professionals Group

I invite you to join our group today! Click Here