Accounts Payable
Increase Efficiency, Reduce Costs, Reduce Errors
According to a recent study by IOMA about the A/P Marketplace, " The highest priority for A/P managers is to increase efficiency. Cost reduction and error reduction are significant priorities, as well."
ACOM's software helps A/P managers do just that with specialized technology for achieving goals such as transitioning from checks to electronic ACH payments.
EZPaySuite is a payment management system that can fully automate the entire corporate disbursement process, with all phases of the activity from generation of checks and electronic payments to printed and electronic payment notifications performed in total transparency to users.
By adopting cost-effective technologies, A/P managers can very quickly contribute to their company’s bottom line, and improve security. Below is a customer success story that illustrates the benefits of choosing EZPaySuite to help transition their AP disbursements from checks to electronic payments.
Accounts Payable Success Story
EZPaySuite Proves Ideally Flexible for Companies Needing a Blended Payment Solution
The Problem
An ACOM customer was facing a policy decision: a number of its larger accounts were insisting that vendors begin paying their invoices by direct deposit. The company's financial software could accommodate it, but to implement the new procedure meant that the company would in effect have to begin doing two payables runs instead of one, and remittance advice would still have to be printed and mailed as paper copies. The added costs and inefficiency of the process convinced the company to look for options, and its software provider recommended ACOM as the solution.
The Solution
ACOM's EZPaySuite proved ideal for the company's new set of needs. Because it is capable of generating both MICR laser checks and electronic payments (ACH) from the same platform in a single check run, the externally imposed requirement turned out to be a major advantage for the company as well.
EZPaySuite also brought the capability to produce pay stubs in several ways: as printed copies, sent as email or fax directly from the software platform, and even through financial EDI (F-EDI).
Not only is it all accomplished in a single payment run, but the processing activity is also faster and cleaner, with far less manual intervention. Rather than using preprinted check stock, the checks are produced on blank security-check stock using a Xerox Laser Printer (MICR-enhanced by ACOM), with pay stubs generated on plain paper loaded into a second tray.
No more wasted forms and post processing, far lower mail costs, virtually no more calls from vendors about payments delayed or lost in the mail.
More Payment Solution Case Studies
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