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Paper-to-Electronic Conversion Starts Instantly
With more than 170,000 companies enrolled in the Paymode-X® settlement network, organizations can convert significant portions of their paper-based payments to electronic transactions immediately. In fact, most new payers find that one in three of their strategic vendors are already enrolled—providing instant cost savings. Paymode-X® clients typically convert 50-70 percent of their paper payments to electronic within the first 12-16 weeks of implementation.
Benefits of paying electronically with Paymode-X® include:
• Convert from paper to electronic payments and remittances advice painlessly
• Build stronger payer-vendor relationships
• Streamline payment processes to reduce operational and transactional costs, delays, processing errors and bank fees
• Protect against payment fraud
• Achieve greater control and predictability of cash flows to optimize working capital