Payment Automation & Optimization
Optimize B2B Payments with Active Payments
AP Automation goes hand-in-hand with Payment Automation & Optimization. Two of our core applications provide secure, reliable, and configurable solutions to the most common financial challenges:
- Active AP automates and streamlines the payment of invoices through the approval process (Ready to Pay).
- Active Payments enables payment optimization, execution, and reconciliation through bank processors.
The potential benefits of cost savings, dynamic discounts, and rebates that payment optimization brings to an organization
can drastically change the success and ROI of a business. If you’d like to gain a better understanding of how to capitalize
on these savings, and get an estimate of how much your organization could be saving/earning, then check out our
savings calculator by filling out the form below.
Processing B2B payments is complex and costly. Many organizations receive high volumes of invoices each month against thousands of different suppliers, each with preferred or limited methods of receiving payment.
Without clear visibility into payments and the flexibility to choose how and when payments occur, organizations risk high processing costs in the form of increased expenses and foregone savings.
Active Payments automates and optimizes the payments process. It learns the ever-changing status of the types of payments suppliers accept, where to send them, what format to send them in, and to whom they should be sent. It tracks and secures sensitive bank account information and routing numbers. Through a single interface, decisions can be made to choose the best type of payment (e.g. ePayments – ACH, vCard) grouping of payments, and timing of payments to reduce cost as well as maximize discounts and early payment options.
Active Payments’ ability to collect, maintain, and securely store supplier information is the key to automating and optimizing B2B payments and even allows for more visibility and control with mobile pay via our mobile application: Active Mobile.
PAYMENTS MIX BEFORE
PAYMENTS MIX AFTER
Our Supplier Network
With ActiveWorx, you’ll have access to an extensive supplier network to facilitate payment optimization on an ongoing basis. We’ll recruit, manage, and maintain our network so that you can take advantage of the most beneficial payment acceptance types of your suppliers.
Saves Time, Saves Money, Improves Supplier Relationships
Active Payments provides the ability to manage different types of payments with the key objective of paying by the method which offers the lowest cost and the highest value (payment optimization). ActiveWorx will execute payments on behalf of our clients taking advantage of the optimal processing fees charged by the bank or card issuer.
Average Processing Fees Charged by Banks and Card Issuers Vary According to Payment Type Below.
ActiveWorx will Optimize the Fees They Charge on Behalf of Our Clients.
With Active Payments you can:
Optimize the payments process to greatly reduce cost
Achieve cashback rebates with card payments
Create visibility in the payments process
Support multi-country, multi-currency payments
Streamline the reconciliation process
Outsource check printing & mailing
Bring AP, transactions, and payments into a single workflow
Ensure compliance with “Know your Customer”
Automate processes consistent with compliance policies
Improve vendor management
For those organizations who still pay suppliers with checks, ActiveWorx offers outsourced check print & mail services at a fraction of the cost to produce in-house, while providing a path to fully electronic payments and lower transaction costs.