AVIDXCHANGE TM USERS CONFERENCE

Transcription

1 AVIDXCHANGE TM USERS CONFERENCE

2 Meet Your Speakers Eric Choltus Director, Product Management, AvidPay AvidXchange Katie Milligan Senior Operations Manager, AvidPay Services AvidXchange 2

3 AVIDXCHANGE USERS CONFERENCE PRODUCT INSIGHTS: GUIDE TO AVIDPAY AND THE AVIDPAY NETWORK

4 AGENDA AvidPay and AvidPay Network Overview New Features Coming Soon Future Updates for 2017 and Beyond Q&A 4

5 AP & Payment Automation 5

6 APN Payment Conversion A single payment file to execute all payment types 7

7 APN Benefits SIMPLE TRANSPARENT SECURE PROFESSIONAL ELECTRONIC ACCURATE Select payments from your accounting system as you do today Maintain all your existing banking accounts No need to manage supplier payment preferences & banking info 24/7 Visibility into payment status Payment approval controls and Positive Pay Service teams for supplier management & payment execution Suppliers get paid how they want to be paid Best in class supplier e-payment adoption Funds reconciliation for you - payment reconciliation for suppliers 7

8 APN Makeup 1. Suppliers 2. Software 3. Clearing Account 4. Services 8

9 AvidPay Client Experience and Benefits 9

10 The AvidXchange Payment Ecosystem AvidXchange Customers E-Paying 100K Suppliers Connecting to 300K Suppliers in the AvidXchange Payment Network 2.8M Small Businesses in the U.S. 10

11 AvidPay Network Overview: Supplier Conversion Supplier Discovery Occurs during Implementation & from Payment Files Strategic Campaigns prior to Client Go Live Real Time Direct calling while Payment in Flight No Payments ever held! Virtual Card Conversion > 40% epayment adoption Worldwide accepted method, no contract required, real time adoption Easiest form of acceptance, cost built into supplier business process AvidPay Direct Enhanced Direct Deposit offers detailed remittance receipt Targeted strategies by educated account specialists Great alternatives for suppliers without merchant accounts 11

12 AvidPay Network Payment Types VIRTUAL CARD One-time use MasterCard for the payment uploaded Suppliers must already have their own merchant account Processed with POS device or computer-based program entered manually No credit involved AVIDPAY DIRECT ENHANCED DIRECT DEPOSIT Electronic payment option for suppliers who can t process Virtual Cards 3 business day clearing time Payments deposited into supplier bank account Electronic remittance AVIDPAY CHECK Always available as a payment option Issued from the AvidXchange Clearing Account Formatted identically for all clients, but references client name for ease of reconciliation 12

13 Payment Delivery Overview Note: Payments should be uploaded 7-10 business days prior to due date in order to account for possible USPS mail delivery timelines 14

14 Check Payments Mailed Next Day Jacksonville, FL Beaverton, OR AvidXchange mails checks next day, but receipt of payment is largely dependent on the delivery time of the United States Postal Service 15

15 Controls and Service Timelines AvidPay Controls Encashment Audit Funds Discrepancy Audit Credit Transaction Audit Service Timelines Virtual Card >>> Check Conversion Stop Payment >>> Reissue Support Case Stop Payment/Void >>> Refund Support Case Payment Exception >>> Client Response Required 16

16 Recent Upgrades 1. Speed Virtual Card Authorization Time Payment Automation & Optimization 2. Power Investing In Our People Expanded Invoice Description 16

17 Recent Upgrades Continued 3. Reliability 10X Volumes Information Security 4. Handling Payment Status Supplier-Centric Payment Model CCD+ Reconciliation 17

18 Coming Soon Proof of Payment Payment search redesign Customized Payment Analysis Payment status history detail Pilot Auto Refund Program Satisfaction Polling Intelligent business mailing Supplier match improvements Exception Management 18

19 Innovation Payment Behavior Monitoring (recurring, late, missing, scheduling) Bank Account Management Dashboards and embedded analytics Electronic Utility Payments Mobile approval Self-Service Payment Management Printed check images 19

20 The Revolution AVIDPAY NETWORK CUSTOMERS ENROLLED 2017 NETWORK TRANSACTION GROWTH EPAYMENT RATE COMPARED TO TOP 20 BANKS 2016 TRANSACTIONS SUPPLIERS 20

21 #REVCLT 21