From checks to ACH ePayments as easy as 1, 2, 3...
The System Does the Hard Work, You Get the Credit
ACOM automates the promotion of ACH payment to your vendors; it even provides a portal for them to self-register for the program. There's no reason to settle for only a handful of your vendors accepting ACH payment, you can quickly reach and exceed best in class participation.
What would you save if you reached 50% to 70% vendor acceptance of ACH?
ACOM makes it easy to transition vendors to ACH in three steps:
1) Update Vendor Master File to include email addresses
You can either enter email addresses from your own data, or use our automated system to capture vendor email addresses. No data entry required for your staff and the process is fully automated.
2) Introduce Electronic Payment Notifications
Send an email notification every time a check payment is processed for their account. The payment notification would let them know that the check was printed and they should get it in the next 3-5 days (complete with a PDF copy of the check and payment details).
For vendors where email is not available, a payment notification can automatically be faxed to notify them that the check was cut. The fax could also invite them to go to the website and update their profile with their email address in order to get a more detailed payment notification.
3) Automatically promote ePayment as part of your standard payment process
Every time you pay a vendor, use the payment notification option to notify them of their payment and to educate them to sign up for ePayment .
Once the vendor is ready to sign up for ePayment, they would simply be directed to log into a secured website where they will update their profile with their bank information to start receiving ePayments. Once their request for ePayment is approved, all future payments will automatically be converted from checks to ePayments.
Next Steps
