Product: Pay by Card
Company: Corpay One
Corpay One, a smart digital bill pay platform for small business, launched Pay by Card, a solution designed to help small and midsize businesses (SMBs) efficiently manage expenses and extend business credit within a bill payment solution, stated Danny Martucci, president of Corpay One.
"Time and money—these are the biggest challenges faced by small businesses," Martucci said. "Corpay One already helps businesses save time with automated bill pay and easier spend management. Now, we're helping SMBs of all sizes, industries and maturity leverage their existing business credit to pay more of their bills."
Describing the Corpay One platform as a bill pay solution that automates bookkeeping and eliminates data entry, Martucci explained that SMBs can use the company's smart scanning capabilities to customize workflows and automate check, ACH and credit card payments without having to pay subscription fees.
"We find small businesses are frustrated with paying for multiple platforms to pay their vendors, code their expenses, scan their documents and populate their accounting systems, like QuickBooks," Martucci said. "Not only is Corpay One subscription-free, but we are constantly finding new ways to make the bill pay process more cash-flow friendly for our customers."
Acknowledging that numerous vendors still only accept check or ACH payments, Martucci pointed out that Corpay One offers a perfect workaround by letting SMBs use credit cards to fund their check and ACH payments to vendors. This helps cash-strapped businesses access credit and rewards programs, he stated.
By allowing small businesses to pay expenses that typically can't be paid via credit card—like rent, contractors and inventory—by funding a check or ACH payment from their business credit card, Corpay One enables small businesses to leverage their existing business credit, which saves them money and frees up their limited cash flows to put towards business-growing initiatives and project, Martucci stated.
He noted that Corpay One acts as a layer on top of our customers' existing systems, providing a real-time, two-way accounting system that directly integrates with QuickBooks Online, QuickBooks Desktop, Xero, Sage Intacct and Freshbooks. In addition, Corpay One's Zapier integration allows customers to automate Corpay One data to Salesforce, Google Drive or other accounting systems. The company's mobile iOS and Android app, along with Slack integration, make it easy for our customers and their employees to manage bill pay on-the-go, he added.
Martucci went on to say that Corpay One's Pay by Card provides secure, automated bill pay, which helps SMBs automate vendor payments by check, ACH, international wire and credit card with bank-level security. The solution's synchronization sends payment details to accounting systems in real time, which can help business owners streamline and customize workflows by routing expenses, setting up autopay and triggering actions based on keywords in documents.
Corpay One's OCR scanning capability reads line items from business documents, and its document matching feature matches bank and credit card transactions to help merchants keep a better eye on company spend. Its mobile app, available on iOS and Android, enables spend management on the go, making it easier to keep track of receipts, approvals and payments.
Advanced features include setting up distinct permissions for different team members and permission levels for viewing data. Vendor management is also simplified with Corpay One's platform because it enables merchants to set up payment methods and track payment-related activity by vendor, Martucci noted.
"Corpay One, a division of FLEETCOR, provides a proven, modern automation platform for B2B online bill payment," Martucci said. "Corpay One expands FLEETCOR's portfolio of accounts payable automation solutions to small businesses by helping them automate their manual payment processes and free their time and cash flow to support their business's growth."
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