REPAY Streamlines AR and AP for Acumatica ERP Users

REPAY Streamlines AR and AP for Acumatica ERP Users

REPAY has redefined the payments integration space by providing seamless Accounts Receivable (AR) payment options for Acumatica users, and we now offer an Acumatica Accounts Payable (AP) vendor bill payments automation solution. By digitizing both AR and AP in Acumatica with REPAY, your company can eliminate the time and cost wasted by paper checks and paper invoicing, and increase your AP payment security easily. 

Best of all? With REPAY, your Accounts Payable process earns you rebates, so you can start making money from your business payments. Learn more about how AP and AR are better together with REPAY.

Newsflash: Small Businesses Are Not Happy with Their Current AP Systems

When looking at the statistics, it is clear that small to midsize businesses (SMBs) are facing a crisis with their AP systems: 

  • Half of the companies making less than $10 million in revenues annually report that their current systems are inefficient
  • More than 80% of SMBs report that their current systems don’t work well

 Isn’t it time to make a change? 

Although SMBs are overwhelmingly experiencing issues with manual or siloed AP and AR systems, it can be hard to justify changing procedures that are “good enough.” However, some payment experts think that the pandemic accelerated the adoption of digital B2B payment solutions by 5-10 years – so if your company is relying on a “good enough” system right now, you may find yourself at a competitive disadvantage very soon.  

Ready to consider a better option for processing both your AR and AP in Acumatica? Check out the benefits you’ll see when you switch to a fully integrated AR and AP solution like REPAY. 

The Leading Benefits of Digitizing AP in Acumatica with REPAY

There are multiple benefits of digitizing Accounts Receivable (AR) with REPAY for Acumatica users, including Level 3 B2B Processing , fast next-day funding availability, and impressive cash flow improvements due to our innovative REPAY ClickToPay payment button that allows payments directly from the invoice through our online payment portal. 

But what about Accounts Payable? Here are just two of the many reasons as to the benefits of Digitizing AP in Acumatica with REPAY as well.  

Efficiency

According to Digital Transactions magazine, an average of 11 hours are spent managing a single invoice, with as many as 15 people involved in the process. Pymnts.com reports that ~30% of US firms say it takes them an entire week to process invoices. The APQC benchmarking database estimates that the median cost of processing a single AP invoice is $5.83 per invoice, and that companies often spend $10 or more on processing a single invoice. 

Clearly, this is too much time and money wasted. 

To streamline the AP process and cut down on time spent, REPAY delivers faster, more organized approvals using a secure web portal that’s accessible anywhere and anytime. That means you can stop wasting time tracking down lost invoices, receipts, and approval slips – finally! 

Reports show that AP automation solutions like REPAY Payment’s AP Vendor Bill Payments Automation solution for AP in Acumatica can reduce time spent on reviewing invoices by an average of 19 hours per week. Additionally, because REPAY delivers a complete record of each transaction, your business will also enjoy faster and easier reconciliation, and integrated accurate reporting with data drawn directly from your Acumatica ERP. 

Security

Pymnts.com reports that more than 80% of US firms use checks to pay invoices, and Digital Transactions magazine states that nearly half of all B2B payments are handled with paper checks in the US. Considering the often sky-high dollar amounts on those B2B checks, it is worrisome that checks have the second-highest fraud rate of all payment methods

Digital payments such as virtual cards are significantly safer than checks, but many SMBs have placed themselves in a risky place by avoiding virtual cards altogether. This is understandable, especially when you realize that many businesses and individuals mistake virtual cards with credit cards. 

In fact, the two options are entirely different: 

  • Virtual cards are one-time-use only digital payment methods that feature a randomly generated number that is nothing like your credit card number. They are authorized for a specific amount, to be paid to a specific vendor and used by a specific authorized user. Because these cards are one-time use only, they cannot be stolen and reused. 
  • Credit cards are a reusable digital payment method that use the same unsecure credit card number for all transactions. Because they are reusable, they can be charged for nearly any amount up to the credit limit, for payments to any vendor and by any user with the credit card data. 

Even businesses that understand the high security of virtual cards may hesitate to use them because they worry about whether their suppliers will accept the cards. 17% of companies suspect that virtual cards may be difficult to use or inconvenient, and 14% fear they may be expensive. (source

REPAY is here to address all those worries. 

When you work with REPAY to process your AP in Acumatica, you can count on having your AP payments securely handled for you because REPAY will make payments by virtual card to suppliers that accept them (or ACH or paper check to suppliers that won’t). 

Not only does this increase your security, but it also increases your cash flow because REPAY gives you rebates on your virtual card transactions. That’s right: you can make money off your payments! 

AR and AP in Acumatica Are Better Together with REPAY

Take your AP vendor payments digital today! REPAY has you covered with our cutting-edge Acumatica AP Vendor Bill Payments Automation solution that offers a native integration in Acumatica's Cloud ERP and features full visibility into pending approvals and invoices, payments handled for you by our team of payment experts, rewarding rebates and improved security through virtual card payments, and impressive time savings, as compared to handling paper checks and invoices.

Watch the Acumatica AP Vendor Payments Demo:

And, of course, REPAY still delivers all the Accounts Receivable benefits you've known to love via the same integrated payment solution.   

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