No Excuses: Why You Need an Automated Payments Solution in 2016

No more excuses! Stop wasting time and money printing paper checks. Here’s how you can still pay third-party vendors with an automated payments solution.

Automated Payments Checks for Vendors

No more excuses! Stop wasting time and money printing paper checks. You can still pay your third-party vendors with an automated payments solution. Don’t believe us?

Last week we teamed up for a webinar with Relyco partner Piracle to show you how you can have your cake and eat it too by transitioning to Create-a-Check.

Missed our webinar? No worries. You can view the recording here, any time.

So, Why Do Businesses Transition to Automated Payments?

Savings, efficiency, and security are the main benefits businesses decide to transition to an electronic payment system.

Piracle’s innovative check writing software lets your AP department fulfill self-managed payments–affording you the option of printing MICR checks on blank check stock or generating the electronic ACH payments directly from your accounting systems.

Here’s why companies who participated in the 2015 Electronic Supplier Payments Report said they made the switch:

  • 84% transitioned to reduce overall payment costs (staff, processing, etc.)
  • 55% transitioned to remove paper from their AP department
  • 49% transitioned for better cash management
  • 23% transitioned to access the benefits of the new technologies
  • 18% transitioned to improve visibility into spend

Electronic Create-a-Check Benefits

What makes electronic systems like Create-a-Check so efficient? Here’s how the reasons listed above translate into tangible benefits.

Savings: The electronic payments facilitated by Create-a-Check can save your business thousands by eliminating of the cost of check printing, postage, and labor. The costs of printing your own checks (blank stock with built in security features) using the software is about $160.00 per 1,000 checks, while the cost of the same number of checks using preprinted check stock is more than double that price, at $361.00.

Efficiency: You can better manage cash flow with the transparency provided by an electronic system. Outstanding payables, discount captures, penalty avoidance, and on-time payments are all recorded.

Security: Statistics show that paper checks are up to 125% more susceptible to fraud than electronic payments. When printing check stock, encrypted digitized signatures are not only more secure, they also save time over manually signing checks.

By combining this advanced check writing software with the AvidPay Network, the trail of checks through the system moves from the accounting system through payment data to Create-a-Check and AvidPay to enable converting checks to e-payments, printing checks to secure blank check stock and providing self-management for ACH, EFT and wire transfers.

Ready to learn more about making the transition?

Transition to Electronic Payments