REPAY partnered with a hospitality giant to digitize their vendor payment processes and generate revenue from virtual card rebates. The Nevada-based organization, which owns some of the most recognizable lodging and resort brands globally, was looking to reduce AP-related expenses and maximize rebates. The hospitality conglomerate, consisting of hotel and entertainment companies, sought to replace its legacy payment system with newer technology that could improve operational efficiencies and rebate income while optimizing, simplifying and streamlining AP processes.
To better understand the company's needs, REPAY audited their AP expense payments to determine which payment methods were preferred by the company's vendors and how many payments were often left unaddressed by similar providers. REPAY also leveraged its vendor-engagement strategies to assess and address the hospitality company's goals.
REPAY Implements AP Automation using Digital Payment Methods
By offering a full suite of digital payment options, such as virtual cards and ACH, REPAY automated the company's AP processes, eliminating labor-intensive, paper-heavy processes managed by the AP team. As a result, the hospitality company was able to reduce the time spent making outbound payments and went from paying $30 million in vendor payments using virtual cards from their bank to over $100 million with REPAY, tripling their monthly rebates earned.
Unlike the company's bank, the customizable solutions from REPAY met vendors' critical payment flow and efficiency criteria and boosted the number of vendors enrolled to receive digital payments.
"We were able to help the company earn 3X more in monthly rebates without having to change their ERP system, headcount or existing banking relationship." – REPAY Sr. Operations Manager
Over time, REPAY helped the organization:
- Increase virtual card payments from $30M with their bank to over $100M with REPAY
- Earn 3X more rebates
- Lower labor and check-processing costs
- Eliminate cost for implementation
- Achieve realtime continuous vendor enrollment
Payment automation providers such as REPAY offer customizable AP automation tools designed to improve operations and vendor relationships, eliminate manual processes, enhance back-office efficiency and offer rebates from virtual card spend.
Start today with digital payment systems designed to elevate the way you do business.
