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Single-Use Accounts

Single-Use Accounts is an electronic payment tool that optimizes your existing procure-to-pay process by automating and linking payment, reporting and reconciliation.

Automate Reconciliation
Single-Use Accounts simplifies reconciliation using a specific reference and account number for each transaction. Actual transaction data is automatically matched to pre-purchase information without manual data entry.

Enhance Control
You can achieve greater spending control by setting unique spending parameters for each purchase, including limits for amount, date range, and merchant type.

Seamlessly Integrate
Single-Use Accounts securely and seamlessly integrates into your procure to pay process, thereby fully leveraging your existing investment and guaranteeing faster program growth.

Drive Savings
Faster program growth drives bottom line savings by increasing your total rebate potential. Single-Use Accounts is an ideal payment tool when targeting manual check payments and higher dollar spend, or in situations where ACH payments and negotiated discounts cannot be maintained.

How does it work?
Once a user approves a purchase or payment request (e.g., invoice, reservation, warranty claim) Single-Use Accounts is automatically appended to this request in your system. Each account is controlled to the specific amount, date range, and merchant category of the purchase request ensuring your purchasing agents and payment managers won't have to worry about unapproved spend or overcharges. In addition, reconciling each Single-Use Accounts payment to the original purchase request is automatically performed by our PaymentNet application with automated reporting back to your system for final reconciliation and reporting. The process enhances reporting and provides controlled spending for each payment transaction. It also leverages the security and fraud prevention of the commercial card industry and shortens reconciliation periods, while at the same time improving accuracy. With these benefits, Single-Use Accounts enhances the existing advantages of the commercial card infrastructure and allows you to quickly ramp your program and increase rebate potential by targeting manual check payments and higher dollar spend.

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