Top 5 Reasons Our Clients Choose Digital Payments

Manually sending and processing physical checks can cost up to twice as much as it would to process the same payment electronically. Companies that have digitized their workflow are able to track and know in real time when invoices are approved and paid—saving them time and allowing them to focus on more important tasks. 

Check processing requires separate reconciliation, and 60 percent of these payments necessitate manual posting—leading to significant time spent spotting and addressing errors.¹ Companies are combatting this by incorporating payment processing into their end-to-end digital solution, resulting in information being automatically synced or flagged as it flows through the process.

Manual processing can mean high costs and inefficiencies for buyers and suppliers, making it more difficult and expensive to do business with your company. As a result, businesses are realizing competitive advantages by offering a seamless user experience, both internally and externally.

ACH payments are two to three times faster than traditional paper-based processes.² The added speed in collection, along with a digitized process’s real-time visibility into cash flow, helps improve certainty as senior management decides when and how to deploy cash. When weighing the costs and benefits of digitizing, savvy companies consider the potential savings that could result from having clearer insight into spending trends and better management of working capital. 

Criminals look for blind spots in payment systems, which can present vulnerabilities where the transaction is interrupted for approvals or manual processing. By implementing a seamless digital solution, companies remove those spots in order to help prevent fraudulent payments from sneaking through. This improves the security of payment information for both the company and its clients and vendors. Having a real-time, digital audit trail also reduces opportunities for internal fraud.