Banking Corporate, Financial Management, Supplier Payments Management

An invoice received from a supplier and paid on Net 30 terms using Virtual Payables can provide up to 55 days of extended working capital over traditional payment processes and eliminates check payments. Fortunately, ePayables can transform how your business handles accounts payable, replacing epayables outdated processes like check payments and ACH with faster, more efficient workflows. One of the most important (and often underestimated) elements of implementation is how you position ePayables to your suppliers.

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Involve CFOs, controllers, and treasury leaders from the start to define success metrics, allocate resources, and help drive cross-functional cooperation. Their backing not only ensures visibility but also reinforces the importance of the program across departments. On the other hand, a phased, thoughtful strategy—grounded in collaboration, data, and communication—can accelerate impact and long-term success. Here are the key best practices finance leaders should follow when introducing ePayables across the organization. This guide outlines everything AP and finance leaders need to know about ePayables—how they work, what they cost, and how they contribute to broader business performance. Take advantage of a flexible credit line and more financing solutions to fund your daily operations.

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• Discover how Shell’s technical leadership and long standing relationships with OEMs enables customers across all sectors to achieve their ambitions, no matter how big or small.
• The funds will eventually be deposited in the vendor’s bank account, completing the payment process.
• In fact, at last count approximately 31% of companies reported that they’ve already begun using this secure and quick form of payment.
• Your process for approval remains the same, making the transition to ePayables easy and efficient.
• Track metrics like vendor adoption rates, rebate earnings, processing times, and error resolution frequency.

The robustness of financial operations in modern-day Outsource Invoicing business is highly dependent on automating processes and streamlining payment solutions. For companies targeting efficient payment operations and accelerated access to working capital, the deployment of an epayables platform is indispensable. Such platform comes with several values like improved operational efficiencies, accelerated period close, reduced invoice processing time, and improved compliance, to name just few. The other major obstacle is getting your vendors and suppliers on board to accept ePayables as a valid payment option, with vendors sometimes balking at the processing costs involved, similar to credit card payments.

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Electronic payables (ePayables) are an alternative type of Commercial Card solution designed to capture spend that end-users do not usually push through the P-Card channel. Most often, they are part of a traditional purchase-to-pay (P2P) process that includes invoice receipt and approval prior to payment. Moreover, they offer additional controls, but typically not as much process savings as P-Cards. The “Receive” phase includes the different methods that AP organizations handle the invoice submissions from suppliers and receipt.

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Some of these providers offer a wide range of payment options from check printing and mailing, ACH, Wire/Swift or cards with the aim of migrating their customers off paper checks. Providing a streamlined supplier experience – one where payments area easily traced and done in real-time – makes supplier part of your business network rather than just a counterparty in cash flow a b2b transaction. Within a commercial credit card program, ePayables operate alongside corporate cards and purchasing cards. These cards, linked to the buyer’s credit line, are used to pay suppliers in an automated and seamless manner, typically integrated with the company’s accounts payable system.

• Then with your shortlist in hand, define your goals and success criteria for implementing ePayables with your suppliers.
• EFT and ACH payments also quickly became the favored payment method for payroll direct deposit.
• However, many financial institutions and card issuers offer rebate incentives that can partially or fully offset these charges.
• There’s less risk of a payment or payment information falling into the wrong hands or duplicate payments being processed.
• These savings compound over time, particularly in high-volume AP environments.
• Choose epayables software that can grow with your business and accommodate changing transaction volumes.

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• Recognized by prestigious awards and trusted by the global financial ecosystem, Yooz stands out in the ePayables landscape.
• The future of ePayables includes AI-driven automation, seamless ERP integration, and global payment capabilities.
• EPayables programs can be structured so that even your most cost-sensitive suppliers find that accepting card payments is a costeffective solution.
• Expedited PaymentsUsually, ePayables’ payments are available within 2 business days (or 48 hours).
• Electronic payables (ePayables) are an alternative type of Commercial Card solution designed to capture spend that end-users do not usually push through the P-Card channel.
• Imagine starting your automation journey within an hour, without any need for training.

An ePayable system integrates with your accounts payable software and vendor network. Once an invoice is approved, a payment, often in the form of a single-use virtual card, is issued. Vendors receive funds quickly, and companies retain full visibility into the transaction lifecycle. One way businesses are reshaping their accounts payable process is through a new form of digital payments called ePayables.