More than 200,000 companies use Paymode-X.

• Typically, one in three of a new payer's strategic vendors are already enrolled. Paymode-X's dedicated on-boarding team will help with the rest.
• When vendors sign up to receive electronic payments from one company, any other payer in the network can start paying them with Paymode-X too.

1. 1

   A Paymode-X on-boarding project manager works with you to define your custom outreach program. Together, we analyze your list of vendors and select vendors that, once enrolled, will return the greatest benefit to you in the least amount of time.

2. 2

   Paymode-X helps you communicate that electronic payment options are available. Paymode-X will provide personalized communication tools that can be used with your targeted vendors to highlight the benefits of receiving payments through Paymode-X. Once communication materials are approved, Paymode-X will execute distribution.

3. 3

   Vendors self-enroll via an easy-to-use, secure online portal and Paymode-X authenticates all membership account information to protect against fraudulent activity. Vendors can also use the portal to update account information anytime. For vendors who do not enroll after the first outreach, Paymode-X makes follow-up phone calls to answer questions and provide online enrollment support.

4. 4

   Paymode-X works with you to enroll key vendors on a continual basis, as your trading relationships change over time. Paymode-X continues to enroll vendors on your behalf over the life of your relationship with us.

Paymode-X practically implements itself.

• With a Software as a Service model, there is no costly hardware to purchase and implement-lightening the load for your busy IT department.
• New features are available instantly, without endless upgrade fees.
• Plus, it integrates with your existing software - Paymode-X users simply log in to a secure site to set up or change account information and initiate payments.

Additional security features include digital signatures with 2048-bit encryption, access controls and user-specified transaction limits.

Please note: The Paymode-X iPad application requires a pre-existing Paymode-X account. For information about joining the Paymode-X network call 800-472-1321.

Making Payments with Paymode-X

• Radically improves AP efficiency
• Optimizes working capital
• Brings visibility to your cash position
• Increases payment security and reduces risk of fraud
• Lightens the load on IT with Software as a Service model
• Saves significant costs
• Allows control over payment timing
• Improves relationships with vendors

Receiving Payments with Paymode-X

• Streamline the receivables process
• Access robust reporting
• Sign up easily through a secure Web portal
• Receive exactly the kind of electronic remittance you need
• Access robust reporting

Paymode-X Helps You...

Treasurer

• Increase visibility to cash flows for more accurate forecasting
• Reduce costs associated with checks and bank fees
• Optimize working capital through payment-scheduling tools

 

AP

• Improve AP performance metrics (time to payment, discounts captured, etc.)
• Eliminate manual processes to focus on strategic, value-add activities
• Issue payments with tight security and control for reduced risk of error and fraud

 

IT

• Minimize resources required to support e-payment functionality (Paymode-X integrates easily with existing systems and SaaS upgrades are automatic)
• Ensure secure data connectivity and payment transmission

 

Audit

• Institute checks and balances
• Track Positive Pay
• Avoid escheatment
• Conduct compliance reporting more easily

 

Purchasing

• Manage spend and vendor relationships
• Seize early payment discount opportunities
• Ensure contract and regulatory compliance

Make Your Employees Happy

By using Paymode-X for employee reimbursements, companies cut down on errors, delays and costs, reimburse employees faster and increase payment visibility.