May 24, 2023
Written By: Mark Tapia, United TranzActions
In the fast-paced world of business, efficiency and control are crucial to a company’s success. Accounts Payable (A/P) operations are a vital part of any organization, but it can often be a time-consuming and manual process that can hinder business growth. That’s why United TranzActions’ (UTA) NextGen A/P solution is a game-changer when it comes to automating and streamlining the processing of your Payables.
One of the standout features offered by this solution includes the improved visibility and control it provides. By eliminating paper and managing A/P from a central platform accessible anywhere, businesses can enjoy better visibility across user roles, business units, and locations. In addition, real-time analytics provide insights that help maintain better control over spend, giving businesses the power to make informed decisions and drive growth.
Simplifying reconciliation is a crucial part of any Accounts Payable department, and businesses can benefit from automating this process, saving time and reducing the risk of errors. With this streamlined approach, businesses can also enjoy increased efficiency, processing invoices faster with fewer errors and exceptions, all without adding headcount. This frees up valuable time and resources for other essential tasks, enabling businesses to focus on growth and the bottom line.
Additionally, electronic payments can improve the vendor experience by allowing companies to pay vendors more quickly and accurately, building stronger relationships and reducing friction. When payments are made quickly and accurately, vendors are less likely to experience delays or errors that can cause frustration and disrupt business operations. But electronic payments are only part of the equation when it comes to enhancing the vendor experience. Enhanced remittance is also crucial, as it helps vendors better understand the details of each payment and ensures that payments are accurately allocated. UTA’s solution offers enhanced remittance features that provide detailed information about each payment, making it easier for vendors to reconcile their accounts and reduce errors. This level of transparency and accuracy can help build trust between businesses and their vendors, leading to stronger relationships and improved business outcomes.
Enhanced security and fraud risk mitigation are other key benefits that should be leveraged. Creating detailed records of each A/P entry allows businesses to ensure that payments are made accurately and enables them to detect any suspicious activity quickly. This level of security and control can help businesses avoid costly mistakes and protect their reputation. By maximizing the use of electronic payments and creating a clean audit trail, businesses can mitigate external and internal risks, giving them peace of mind when it comes to financial management.
United TranzActions (UTA) is a leading provider of payment processing solutions for businesses across the United States and Canada. Our NextGen ACH Pay solution is designed to help companies with their Accounts Payable processes, reduce costs, and improve their relationships with vendors. Our solution is a powerful tool for automating and streamlining the Accounts Payable role. By providing improved visibility, enhanced security, simplified reconciliation, increased efficiency, and an improved vendor experience, businesses can save time and resources while driving growth and innovation. So, if you’re looking for a better way to manage your Payables and streamline the vendor payment process, why not try UTA’s NextGen ACH Pay solution today and see the difference it can make for your business!
More information on UTA.
Mark Tapia – Vice President, Business Development
With over 17 years of experience in the payment processing industry, Mark has helped many companies of all sizes by evaluating their current payment acceptance environment to help drive efficiencies, convey ROI opportunities, and improve cash flow management.
Dean Middleton, President of United TranzActions, will host our upcoming Digital Payments NextGen webinar on June 20th at 2PM EST. This session is an excellent opportunity for your members to learn about new and exciting payment solutions that will help streamline their accounts payable and receivable while significantly reducing costs.
https://event.on24.com/wcc/r/4236774/C398BDAF69071DD5A0536F87F17B5AE6