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Virtual Card Capture
VIRTUAL CARD CAPTUREKey Benefits to Suppliers
Cash Flow Reduce Manual Labor
Reduce Costs Improve Security
EMAILED VIRTUAL CARDSVirtual Card Payment Pain Points
Payments are increasingly sent as emails:
• Emails include links to one-time use (purchasing) cards which must be hand-keyed
• Purchasing cards carry the highest rate of acceptance (around 3%)
• Remittance is often hand-keyed into the ERP for each payment
• Repeat-use cards included in emails can also create PCI concerns
SUCCESS IN ACTIONMedela Automates Virtual Card Acceptance and Cuts Costs
Solution:• Medela implemented Billtrust’s Virtual Card Capture
solution
• Once Billtrust processes virtual card payments, a consolidated payment file is sent to Medela daily for easy posting to ERP
Pain Points:• Medela was receiving thousands of emailed virtual
card payments a month
• One FTE dedicated eight hours a day to manually process and apply emailed virtual card payments
• Optimizing interchange was not possible, making virtual card acceptance even costlier
“You would be crazy not to go with Billtrust! We’ve been looking for a way to automate these emailed card payments for five years, and Billtrust delivered on a great solution. They truly listen to their customers.”
- Tina Schneider, Credit & A/R Manager
Results: • Touchless virtual card processing
• Reduced interchange fees associated with virtual cards by 0.26%
• Reallocated one FTE
• Simplified cash application
HOW VIRTUAL CARD CAPTURE WORKS
THE VIRTUAL CARD LANDSCAPE
Estimated U.S. Commercial Card Purchase Volume by Product Type
Virtual Card Spend to Exceed Traditional P-Cards by 2021
Source: Mercator Advisory Group
QUANTUMAcceleraing the invoice-to-cash process with payment cycle management
QuantumPayments
QuantumInvoice
QuantumCash Application
AUTOMATING INVOICE-TO-CASHReduce pain points and increase efficiency
EVOLVING AP PROCESSES
A/R PRESSURES TODO MORE WITH LESS
SHIFT TO ELECTRONIC PROCESSES
AP departments are shifting to electronic forms of invoicing and payment processes
PAPER-BASEDFORMS ELECTRONIC
FORMS
Want to learn more about virtual card automation and accelerating your cash flow?
Request a demo!
GET IN TOUCH
www.billtrust.com/demo888-580-2455