OMAHA, NEB. (PRWEB) OCTOBER 28, 2020--Already an industry leader in automating accounts payable services for a host of influential companies, Omaha-based Vendorin® says it has unlocked the full potential of its True Payment Network™ with some significant enhancements combining a service-first approach that leverages in-house built and proprietary technology.
“We’ve spent more than a decade innovating – in collaboration with clients and suppliers – solutions for the real-world challenges that businesses face in transitioning to electronic payments and managing the ever-evolving suite of digital AP & AR options, products, and opportunities,” Vendorin Chief Operating Officer Robert Johnson said.
“Now, thanks to even more exciting updates to our proprietary payment network, all of Vendorin’s electronic payment types will integrate with both accounts payable (AP) and accounts receivable (AR) systems.”
Even before it was acquired in 2016 by Juvo Technology of Hattiesburg, Mississippi, Vendorin was providing some of the largest companies in the country with fully automated electronic payments. Johnson said that understanding the intricate level of service required to enable and effect the proper electronic payment type for the benefit of both suppliers and buyers was the key to taking the payment network to the next level and maximizing its capabilities.
“A single duplicate record or data entry misstep can derail your entire electronic payment process, creating problems between you and your suppliers and providing an opening for exploitation of those problems,” Johnson said. “Vendorin has come up with a way to completely eliminate duplicate records.”
Prior to these latest software enhancements, Vendorin, founded in 2007, had already surpassed a total payment processing volume of $20 billion annually.
Vendorin sets the standard in the industry, company executives say, by providing electronic payments of no less than 95% of a client’s AP and AR. In addition, they say, Vendorin’s payment system helps lower costs, streamline processes, and deliver improved margin through increased discount capture, allowing its clients to generate revenue of at least 30% within their existing AP and AR payments.
Said Johnson: “One of the most exciting parts of my day is receiving emails from both clients and suppliers about the effectiveness and the above-and-beyond service delivery of our operations staff in converting legacy systems and processes to Vendorin’s automated True Payment Network™.”
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Source: Company press release.