Supplier Payment Optimization Part 2

Part II
PAYMENT OPTIMIZATION
EXECUTING ON THE ANALYSIS
Presented for FENG, the Financial Executive Networking Group

TODAY’S PRESENTER
Doug Seaberg
Director of Business Development
© 2017 EML Payments Europe Limited. All rights reserved. | www.EMLpayments.com

• What is Payment Optimization?
• Supplier Enablement Overview
• Success Factors
• Campaigning
• Account Management & Support
• Call to Action
AGENDA

EML offers innovative payment technology
solutions for payouts, gifts, incentives and
rewards, and supplier payments. We issue
mobile, physical and virtual card solutions to
some of the largest corporate brands
around the world, processing billions of
dollars in payments each year.
Click below to visit us:
• Certified processor and program manager
• Managing more than 850 card programs for 500+
customers
• In-house 24/7 multilingual customer service
• 14 years of payment experience
• Certified by Visa®, MasterCard® and Discover®
• PCI compliant and SSAE-18 certified
• Secure platform with 99.99% uptime
• In-house development team
• In-house, experienced supplier relationship managers
www.emlpayments.com
ABOUT EML

A Holistic Approach to Payments

WHAT ARE WE TRYING TO OPTIMIZE?
Your Payment Partner’s Goal is to Optimize for Several Outcomes
STRATEGY
INCENTIVE
PROCESS
CONTROL
51%
Of B2B payments are still paid by check*
77%
Of organizations with payment fraud were
victims of check fraud*
55%
Of organizations accept card payments
from business customers*
*AFP Electronic Payments Survey – 2016
77% / 56%
Of companies integrated their ACH/Card
payments with their accounting systems*

WHAT IS OPTIMIZATION?
Value Created by Your Payment Partner
•Creating enterprise value through a holistic payment strategy
•Elevating payments to the C-suite
STRATEGY
•Generate revenue from payments
•Qualify for early pay discounts
INCENTIVE
•Reduce the # of checks written
•Eliminate manual tasks in the payment workflow
PROCESS
•Reduce potential for fraud
•Improve the tracking and status of issued payments
CONTROL
$22
Estimated savings per transaction by
replacing a check with a virtual card*
1.24%
Monthly cash back rebate on each virtual
card issued
Up to 75%
Of annual transaction expenses can be
eliminated by converting 20% of suppliers
33%
Average growth in monthly virtual card
spend between 2014 and 2015*
*AFP Electronic Payments Survey – 2016

WHY DO SUPPLIERS ACCEPT VIRTUAL CARDS?
Maximize Success by Knowing Your Supplier’s Needs
20%
22%
32%
34%
36%
68%
Reduce A/R Staff
Decrease Costs
Process Ease
To Be "Preferred"
Guaranteed Payment
Quick Payment
*NAPCP Supplier Acceptance of Card Payments – 2013
#1 REASON
They Already Take Card Payments

SUPPLIER ENABLEMENT
Third-Party Advantages
In-house enablement team | Custom enrollment campaigns | Ongoing enrollment
More Enrolled Supplier Spend | Larger Rebates
Your Benefits

SUPPLIER ENABLEMENT
SUPPLIER ENABLEMENT SUCCESS
The Keys to Successful Enrollment
Intent
and
Tone
Payment
Type
Payment
Terms
Contacts
Firm Check Flexible Good
Soft Standard Bad
Rebate
“Over 80% of suppliers
answered ‘Yes’, they would
likely take a card payment if
a client mandated it as a
method of payment”*
*Kaiser Associates Study 2013
ACH

THE ADVANTAGES A PAYMENTS PARTNER PROVIDES
In-house enablement team
• College educated, salaried, financially trained
• Located in United States
Custom enrollment campaigns
• Each campaign is created in-house using deep analysis and the
client’s desired tone
• Multiple campaign messages per client
Ongoing enrollment
• Follow up schedules with each client
• Coaching with client’s procurement team to encourage
enrollment
Payments partners
should wrap value
around the payment
process
SUPPLIER ENABLEMENT

SUPPLIER ENABLEMENT CAMPAIGN
Improve Enrollment Through Multi-Touch Campaigns
Executive Letter
First Email
Enrolled
Outbound Calling
Ongoing
Welcome Letter
Follow-up Letter
Second Email
Reminder Letter
Third Email
Email Campaigns
SUPPLIER ENABLEMENT

EXECUTIVE LETTER
SUPPLIER ENABLEMENT
Key Elements:
• Buyer-preferred branding, messaging and tone
• Buyer-chosen enrollment incentives
• Program benefits for suppliers
• Links to buyer-branded account activation website
• EML contact information
• Next steps in the process

ONLINE ACCOUNT ACTIVATION
SUPPLIER ENABLEMENT
Key Elements:
• Buyer-preferred branding, messaging and tone
• Designed for easy self-service enrollment
• FAQs
• Ask a Question form
• Downloadable additional program information and
resources
• What happens next text block explains the next steps
• EML calls each supplier within 48 hours of form submission

PAYMENT NOTIFICATION
SUPPLIER ENABLEMENT
Key Elements:
• Contains the last 10 digits of card number only (Secure)
• Payment amount
• Expiration date
• Security code
• Buyer-preferred detailed remittance data:
• Invoice information
• Notes

REGULATORY AND COMPLIANCE
EML Takes Compliance Seriously and Builds Requirements Into Every Program.
• MasterCard® PCI Compliant and Visa® Compliant service provider,
undergoing annual reviews to maintain these regulatory certifications.
• EML works to comply with the regulatory requirements and guidance of these
agencies and laws: OCC,
OSFI, FinCEN, OFAC, FDIC, FinTrac and HIPPA.
• EML also maintains anti-money laundering programs for CIP, KYC and BSA.
• Our security standards include PCI/SSAE-18 certification and disaster recovery
plans.
• We also have an internal, dedicated fraud-prevention team. This team
continually screen transactions for suspicious activity and utilize applications
such as Cybersource and Velocity, which help detect fraudulent transactions
before they happen.
SUPPLIER ENABLEMENT

SUPPORT
Your Payments Partner Manages Customer Service and Support for Every Payment
• Payment inquiries
• Processing questions
• Change in payment method requests
• Ensures suppliers process virtual cards within buyer-specified timeframe.
• Conducts follow-up calls to ensure payments are redeemed.
• Ongoing enrollment management new suppliers.
SUPPLIER ENABLEMENT

ACCOUNT MANAGEMENT
Buyer Program Reporting
• Supplier enrollment: A file of all suppliers that have agreed to accept payment.
• Reconciliation file: A customized file for reconciling payments.
• Completion file: Indicates how many payments were successfully sent to suppliers.
• Card activity report: Provides a status of all virtual card activity, including cards being
worked by Store Financial customer service due to inactivity or improper processing.
SUPPLIER ENABLEMENT

CALL TO ACTION - 4 STEPS
How Can You Get Started Today?
1. Schedule a 30 minute call with EML to discuss your specific situation
2. Submit your master supplier file for analysis
3. Meet in person or via video conference to present the data
4. You decide if a payment partnership is right for you
CLICK HERE TO CONTACT EML

Supplier Payment Optimization Part 2

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