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Benefits of B2B ePayments: Leaving the Paper Check Behind

Sponsored By SunGard

Topics:: Accounting; Finance & Risk Management; Financial Crisis

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Abstract:: Reducing costs and mitigating risk are key drivers for migrating paper checks to electronic payments such as ACH or virtual card programs. However, only a handful of large companies have been successful in converting over half their payments into electronic formats. Most organizations are still struggling with error-prone and expensive paper checks for the bulk of their payments. With the average corporation processing 500,000 payments annually, the cost savings, efficiencies, and fraud reduction arising from the migration to ePayments can have a dramatic impact to the bottom line. Additionally, there is a big opportunity for organizations to turn their Accounts Payable departments into revenue generators by migrating paper checks to electronic card rebate or virtual card programs. Vendor adoption of ePayments is one of the key barriers, but using a one-to-many approach can help accelerate vendor adoption.

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Released: January 25, 2011

Length: 11 pages

Format: PDF (307 kb)

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