How many platforms does your business access during a typical workday? Maintaining separate systems to run your business is inefficient and expensive, and it is prone to manual entry errors, reporting nightmares, and poor vendor experiences.
Using ERP software, such as AccountMate, streamlines how small- to mid-sized businesses manage their day-to-day operations. Along with AR payments and ClickToPay, AccountMate has expanded its capabilities to include REPAY’s vendor payment automation, simplifying outbound payments for CFOs, AP clerks and financial teams.
Here, we cover three reasons for manufacturers and wholesale distributors to implement vendor payment automation.
Convenience for You
Using a separate platform to process payments to vendors and suppliers is cumbersome and error-prone. Integrating vendor payment automation into AccountMate offers a one-stop shop to manage every aspect of your business more efficiently.
- Eliminate manual entries.
- Manually keying in every vendor payment is tedious and leads to data entry errors, which cause unbalanced books and budget issues.
- Consolidate reporting.
- Offering a single source for AP reporting creates a centralized data hub accessible across all locations and departments while simplifying reconciliation.
Faster Payments for Vendors
According to pymnts.com, 40% of B2B payments are still made with paper checks. Between cutting, approving, and mailing them, checks are slow and often lead to delayed - and even lost or stolen - payments.
- Modern 24/7 payment methods.
- Virtual cards and enhanced ACH expedite how quickly vendors receive their funds and can even earn businesses valuable rebates.
- Increase vendor satisfaction.
- On-time payments build and maintain vendor loyalty, ensuring businesses have what they need to run smoothly.
Security for All
Cybercriminals are evolving their tactics faster than most businesses can keep up, making AP payment protection seem impossible. REPAY’s vendor payment automation includes security measures you likely don’t know you need.
- Protection for every payment.
- ACH validation, positive pay, secure gateways, encryption/tokenization, and user permissions are just a few security tools a payment solution should offer.
- Cost and time savings.
- Maintaining security and compliance is expensive and requires substantial resources. The right vendor payments solution will take on the burden of security, saving significant time and costs.
Simplify & Secure AP Payments
Get more from your AccountMate integration! Implement vendor payment automation from REPAY to pay vendors quickly and more securely from the ERP you rely on every day.
Contact us for a demo!