7. Mitigate risk and simplify accounting processesDisbursements Management Corporate Fleet Purchasing Travel Payroll, Per diem and Incentive 3 3
8. Today’s Payment Landscape “Manual, paper-based accounts payable departments are eroding the bottom line of large and mid-market enterprises by an order of millions of dollars each year….and the stage is set for a major financial makeover.” 4
11. Reduce Costs Eliminates cost of check processing, averaging $5.14* Mitigate check fraud and cost of positive pay Generate monthly revenue on vendor payments Ex: $3.0M monthly volume @ 1.50% = $45,000 Paid monthly on actual volume Easily implemented Integrates as another payment type in your AP application Vendor enrollment support with worldwide acceptance Eliminate 1099 Reporting IRC Section 6050W – Effective January 1, 2011 Card-based vendor payments – Merchant acquirers responsible for reporting
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13. A Virtual Card is a unique 16 digit MasterCard account number
58. Keys to Success Vendor enrollment defined and continuously executed Employees promote program as preferred payment method Reduced check processing from 3 days to 1 day per week Program settlements process daily with simple file transfer 81% Trx < $5K 62% Spend > $10K
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