Payment Solutions for QAD Users
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Payment Solutions for QAD Users
description
Payment Solutions for QAD Users. Capital Safety EZPay Implementation. Andy McDonald IT Business Solutions Analyst. Business Need. Capital Safety Canada signed checks by hand Also a desire to begin using Positive Pay and ACH - PowerPoint PPT Presentation
Transcript of Payment Solutions for QAD Users
Payment Solutions for QAD Users
Capital Safety EZPay Implementation
Andy McDonaldIT Business Solutions Analyst
• Capital Safety Canada signed checks by hand– Also a desire to begin using Positive Pay and ACH
• Capital Safety USA needed to upgrade signatures, Positive Pay, and ACH– US had a legacy hardware solution– US also had a manual Positive Pay and ACH process
Business Need
Image of US Current
• 1 – LAN convert• 2a – LAN to LPT port• 2b – LPT to LPT
Upgraded US Cables
• Power• Network• Key
Comparison
Project Summary
• Lower cost of stock
• Less work for ACH
• Less work for Positive Pay
• Better security
• Less cables and fewer points of failure
Project Summary
• Getting QAD output to file from Linux to Windows properly was an issue.– 2 files – check + payment Specifications
• Scheduling time with end-users
• Doing 2 separate QAD installs made project take longer than anticipated
A Closer Look at Electronic Payments
David AdamsChannel Sales Support Manager
ACOM Solutions, Inc.
Current Trends in Paperless Accounts Payable
The movement to paperless payables is being driven by three factors:
• Need for more efficiency, especially in tough economic cycles
• The need for better risk management & business continuity
• Advances in electronic technology
AP Challenges
• Over reliance on people & paper-based processes
• Manual processes = discrepancies & exceptions
• Low productivity & higher invoice processing costs
• Electronic Invoicing = accuracy & less discrepancies
• Electronic ACH payment adoption rates
Automation Priorities 2012
2012 Invoice & Workflow Automation Adoption Benchmarking Survey Report - PayStream Advisors
Why is ePayment Adoption So Low?
• Difficult and time consuming to launch
• Cumbersome enrollment process & labor intensive
• Difficult managing vendor information
• Challenges managing disparate systems
Traditional Vendor Sign Up
Ongoing Manual Updates to Accounting System
with Vendor Banking Information and Email
Addresses
Ongoing Mass Mailings
Manual Capture of Vendor Email
Addresses
Manual Capture of Vendor Banking
Information
Faxes, Emails Ongoing Vendor Communication
Mass Mailing and Phone Calls
A Compelling ROI for Paying Electronically
• A clear, justifiable ROI exists when implementing a unified ePayment solution
• More Secure than Paper Checks
• Immediate Electronic Remittance Delivery
Why Pay Electronically?Let’s Do the Math
Cost to process Check $2.25
Cost to process ACH $0.15
The math: 1500 checks/mo. at $2.25 each = $3,375
Annual cost = $40,500
If 50% move to ACH at $0.15 each:
Savings of $2.25 - $0.15 = $2.10 each
750 ACH payments x $2.10 =
$1,575 per month
An Annual Savings
of $18,900!
ACH E-Mail or Fax
Remittance
MICR Laser
Printers
Your QAD Application
Print Files
eArchive - Save Copy as Indexed PDF File
in EZContentManager
Self Service Portal
ACOM’s Approach to Electronic Payments
• Rapid vendor enrollment• Automated online enrollment process • Easy vendor enrollment • Immediately receive electronic payments and remittance
• Transaction archive • Secure, online archive of payment transactions • Access payment history quickly to resolve disputes
• Payment options • Supports both MICR laser checks and ACH payments
Automated Vendor Outreach
Printed Vendor Communication
Automated Vendor ACH Enrollment
Vendor Request Approval
Point and Click to add Vendor
Automated Electronic Remittance (Email Addresses Automatically Captured from Self Service Website)
• Email ACH Payment Notification• Remittance Information attached as PDF
View Electronic Remittance
Automated Payment Notification
Archive - View Past Payments
• 24 x 7 Vendor Access to Past Payments
• Reduce Inbound Calls to AP Department
Automatic Payment Preference Update
Banking information Automatically populated!
Summary - Why Pay Electronically?
• Significant Cost Savings
• Improved efficiency
• Ability to process more payments
• Improved ability to forecast cash flows
• Improved vendor relations
• Improved security (check fraud)
Questions & Answers
ACOM Solutions, Inc.
Contact: David Adams
Phone: (800) 347-3638, ext. 4120
Email: [email protected]
Contact Us
Capital Safety USA
Contact: Andy McDonald
Email: [email protected]
