Virtual cards for accounts payable offer companies & nonprofits a fantastic way to streamline AP and generate extra revenue from paying suppliers. In the past year our platform helped over 20,000 clients pay over 1 Million suppliers, with paid invoices totaling more than $80 Billion. Along the way those clients reaped the benefits of increased AP efficiency and reduced costs, not to mention substantial rebates.
Let’s review why virtual cards are such a compelling option:
- No cost…no setup fees, ongoing fees, or account maintenance fees. No cost, period.
- Simple implementation for your organization.
- No changes in banking relationships or treasury management arrangements.
- No changes in accounting software.
- Virtual cards are more secure than checks & ACH.
- You have to pay your vendors anyway, so why not create extra revenue when you do?
What does ‘simple implementation’ mean? In short, we do all the heavy lifting. Once you decide to utilize our virtual card solution, your time contribution is typically less than 10 hours of work. That’s it. We will handle the time-consuming process of enrolling your vendors on the platform, making hundreds or often thousands of calls on your behalf to ensure maximum participation. Our dedicated team focuses on enrollment because that’s what leads to your efficiency savings and rebates. It’s our secret sauce, and why we typically enroll 5-7 times more vendors than other providers.
So are virtual cards a lot of work? No, not for your organization. We do the hard work on your behalf, and we are glad to do it!
Ready to learn more? Contact us for a conversation, in 15 minutes we’ll explain how virtual cards work so you can decided if they are a fit for you.