This newsletter is geared towards informing you about specific software products and tools or business topics related to the products All Star Software sells, implements and supports.
PaymentWorks | Supplier Portal for Invoices and Payments
PaymentWorks is a cloud based supplier invoice and payment portal solution that streamlines the exchange of invoice status, payment and other relevant information between your company and your suppliers. By leveraging a social networking model, PaymentWorks enables companies to easily connect with their suppliers, and for their suppliers, in turn, to invite their other customers to join. For instance, suppliers can view the status of invoices, access remittance advices, update their banking information and request discounted early payment offers for approved invoices.
What makes this unique is PaymentWorks has a social networking model that makes it easy for suppliers to join, requires little to no ERP integration, and has a very low monthly subscription price.
PaymentWorks clients, including such names as the Boston Globe, Nippon Express, and Vertex Bio Sciences say the main reasons they use the service are:
- Achieving Process Efficiency – by eliminating costly inbound calls / emails from suppliers about invoice status and payments.
- Driving Direct Savings – by offering suppliers accelerated payment in exchange for early pay discounts (dynamic discounting).
- Automating New Vendor Registration Process – by allowing new suppliers to register or existing suppliers to update their data. This information would go to the vendor maintenance queue in workflow (All Star provided or via the ERP system) for users to update your ERP system.
- Enhancing Financial Control – by increasing the use of electronic payments where over 80% can be ACH versus checks.
PaymentWorks is another solution to help you ACCELERATE your business processes. We believe you will find the concept and the user interface to be invigorating compared to the world of portals you have had to endure in the past. Please reach out to firstname.lastname@example.org for your personalized presentation and demonstration. This is a product that can be implemented and deliver significant savings in a short period of time.
Please click the PaymentWorks logo for more information.