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Payment Solutions for QAD Users

Payment Solutions for QAD Users. Capital Safety EZPay Implementation. Andy McDonald IT Business Solutions Analyst. Business Need. Capital Safety Canada signed checks by hand Also a desire to begin using Positive Pay and ACH

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Payment Solutions for QAD Users

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  1. Payment Solutions for QAD Users

  2. Capital Safety EZPay Implementation Andy McDonald IT Business Solutions Analyst

  3. Business Need • Capital Safety Canada signed checks by hand • Also a desire to begin using Positive Pay and ACH • Capital Safety USA needed to upgrade signatures, Positive Pay, and ACH • US had a legacy hardware solution • US also had a manual Positive Pay and ACH process

  4. Image of US Current • 1 – LAN convert • 2a – LAN to LPT port • 2b – LPT to LPT

  5. Upgraded US Cables • Power • Network • Key

  6. Comparison

  7. Project Summary • Lower cost of stock • Less work for ACH • Less work for Positive Pay • Better security • Less cables and fewer points of failure

  8. Project Summary • Getting QAD output to file from Linux to Windows properly was an issue. • 2 files – check + payment Specifications • Scheduling time with end-users • Doing 2 separate QAD installs made project take longer than anticipated

  9. Contact Information • Andy McDonald – Capital Safety USA • amcdonald@capitalsafety.com

  10. A Closer Look at Electronic Payments David Adams Channel Sales Support Manager ACOM Solutions, Inc.

  11. Current Trends in Paperless Accounts Payable The movement to paperless payables is being driven by three factors: • Need for more efficiency, especially in tough economic cycles • The need for better risk management & business continuity • Advances in electronic technology

  12. AP Challenges • Over reliance on people & paper-based processes • Manual processes = discrepancies & exceptions • Low productivity & higher invoice processing costs • Electronic Invoicing = accuracy & less discrepancies • Electronic ACH payment adoption rates

  13. Automation Priorities 2012 2012 Invoice & Workflow Automation Adoption Benchmarking Survey Report - PayStream Advisors

  14. Why is ePayment Adoption So Low? • Difficult and time consuming to launch • Cumbersome enrollment process & labor intensive • Difficult managing vendor information • Challenges managing disparate systems

  15. Traditional Vendor Sign Up Faxes, Emails Ongoing Vendor Communication Manual Capture of Vendor Banking Information Manual Capture of Vendor Email Addresses Mass Mailing and Phone Calls Ongoing Manual Updates to Accounting System with Vendor Banking Information and Email Addresses Ongoing Mass Mailings

  16. A Compelling ROI for Paying Electronically • A clear, justifiable ROI exists when implementing a unified ePayment solution • More Secure than Paper Checks • Immediate Electronic Remittance Delivery

  17. Why Pay Electronically?Let’s Do the Math An Annual Savings of $18,900! Cost to process Check $2.25 Cost to process ACH $0.15 The math: 1500 checks/mo. at $2.25 each = $3,375 Annual cost = $40,500 If 50% move to ACH at $0.15 each: Savings of $2.25 - $0.15 = $2.10 each 750 ACH payments x $2.10 = $1,575 per month

  18. MICR Laser Printers ACH E-Mail or Fax Remittance Your QAD Application Print Files Self Service Portal eArchive - Save Copy as Indexed PDF File in EZContentManager

  19. ACOM’s Approach to Electronic Payments • Rapid vendor enrollment • Automated online enrollment process • Easy vendor enrollment • Immediately receive electronic payments and remittance • Transaction archive • Secure, online archive of payment transactions • Access payment history quickly to resolve disputes • Payment options • Supports both MICR laser checks and ACH payments

  20. Automated Vendor Outreach

  21. Printed Vendor Communication

  22. Automated Vendor ACH Enrollment

  23. Vendor Request Approval Point and Click to add Vendor

  24. Automated Electronic Remittance (Email Addresses Automatically Captured from Self Service Website) • Email ACH Payment Notification • Remittance Information attached as PDF

  25. View Electronic Remittance

  26. Automated Payment Notification

  27. Archive - View Past Payments 24 x 7 Vendor Access to Past Payments Reduce Inbound Calls to AP Department

  28. Automatic Payment Preference Update Banking information Automatically populated!

  29. Summary - Why Pay Electronically? • Significant Cost Savings • Improved efficiency • Ability to process more payments • Improved ability to forecast cash flows • Improved vendor relations • Improved security (check fraud)

  30. Questions & Answers

  31. Contact Us Capital Safety USA Contact: Andy McDonald Email: amcdonald@capitalsafety.com ACOM Solutions, Inc. Contact: David Adams Phone: (800) 347-3638, ext. 4120 Email: dadams@acom.com

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