a leading payment facilitator in B2B integrated payables solutions
We, at VSPIRE, believe suppliers are the backbone of any organization and it's critical to protect and nourish those relationships for long-term company success. We help guide organizations' CFO's and Accounts Payable teams to pay their suppliers timely, faster and electronically to preserve those relationships and the people it serves.
VSPIRE’s story began in the fall of 2014 when Leslie Backus, President of VSPIRE, sat in a boardroom with the CFO and Accounts Payable manager of a corporation in the south-east region. Leslie was consulting for other companies at the time about electronic payments and educating such solutions to different middle market companies to Fortune 1000 organizations. As Leslie sat in this executive meeting, she listened to the financial challenges of this organization from the CFO and how they struggled with managing the inefficiencies of supplier payments, and how they were always seeking ways to increase cash flow.
The purpose of our meeting that fall day was to present the financial benefit, and the impact of our analysis of the organizations' vendor master spend file. One essential item that stuck out was the organization was paying thousands, yes, thousands of their suppliers immediately. Those supplier’s payment terms were Net 0.
Leslie asked the CFO, “why is your organization paying over 2,000 suppliers at Net 0 terms?” Leslie could see by the stunned look on the CFO's face he was not aware of this and was a pain point. Before the CFO could answer the Accounts Payable Manager interjected and explained how proud she was that she pays suppliers as quickly as possible, so they don’t call her to complain about late payments or pushed for early payments.
LESLIE BACKUS, PRESIDENT
This is where Leslie had a aha! moment. She immediately realized there is a disconnect between the executive leadership team focused on driving health care system financial goals seeking stability and growth and the accounts payable teams policies and procedures and making changes ‘on-the-fly.’ This is where the idea of VSPIRE was born.
With Leslie's 25+ years of experience working with corporate financial executives, who all sought solutions to increase days payable outstanding (DPO) and generate new sources of earning revenue, she saw a resolution that would work for many large organizations. By defining a payment terms adjustment strategy, and having an overall holistic approach to contributing to meeting company financial goals, VSPIRE can help bridge these gaps and deliver a first-class integrated payables solution to benefit many organizations.
VSPIRE is a certified woman-owned business and is proud to call Metro Detroit (Michigan) home.
WORK WITH VSPIRE
VSPIRE will work with your organization to design a unique and custom integrated payables solutions that will maximize the effectiveness of your business-to-business (B2B) payments strategy. VSPIRE uses a methodical step-by-step consultative approach to guide organizations through a solutions-oriented way to improve existing accounts payable processes.
ARE YOU READY TO TAKE THE FIRST STEP TO GO PAPERLESS?
If YES, then click "Start Now" to determine if your business qualifies to transition to electronic payments.
Transitioning from paper checks to electronic payments to pay suppliers is not complicated, but trying to determine if your company qualifies and where to start can be overwhelming, time-consuming and confusing. Click the "Start Now" button below and answer a few questions to determine if your company is eligible for electronic payment solutions. If so, VSPIRE will walk you through the entire process on how to make this happen for your business.
This questionnaire is absolutely FREE to determine if you qualify.