INTEGRATED PAYABLES SOLUTIONS
a powerful electronic B2B payment network for buyers to pay ALL their suppliers
WHAT IS INTEGRATED PAYABLES SOLUTIONS?
Integrated Payables Solutions is the improved payment ability that allows an organization to make electronic payments to ALL their suppliers utilizing one of several payment methods (e.g. virtual credit card; ACH; ACH Early; eCheck) using a single secure payment file sent to VSPIRE for timely and proper routing and processing. Another way to think about Integrated Payables Solutions is the ability to offer businesses "complete Accounts Payable outsourcing." The payer sends an approved invoice file to VSPIRE to verify, process and validate the file and the suppliers appropriate payment method, then the payment file is routed accordingly.
VSPIRE will work with your company to design a unique electronic payments strategy that will maximize the effectiveness of your company's electronic payments to your suppliers. This is more than just taking advantage of the discounts offered to your company. We dive deeper.
Drive Payment Efficiencies
Electronic payment solutions utilizing virtual credit cards (V-Cards), ACH, and eCheck supplier payment methods can drive efficiencies and provide earnings revenue, expense reduction, or working capital benefits back to your organization. These safe and secure payment methods to suppliers are an excellent and secure alternative to antiquated paper check or costly wire payments.
VSPIRE is in the business of providing financial services to corporations. VSPIRE is a certified Women's Business Enterprise (WBE) so dollars spent by the Payer are treated as dollars spent with a diverse supplier (e.g. "diversity spend").
HOW IT WORKS
Supplier Payments Made EASY
PAYMENT PROCESS FLOW
Payer's ERP System - Payer's ERP system will determine when the supplier's invoices are approved for payment just as you do today.
Payment File of Approved Supplier Invoices - Payer will forward (via secure FTP or secure email) an approved invoice file of any supplier invoices ready to be paid.
VSPIREs Payment Routing Engine - VSPIREs payment engine receives from Payer the approved supplier invoice file. The file is verified, processed, validated and routed according to the supplier's selected method of payment. It is also determined what day the payment is to be made and manages the timing of the payment to the supplier when it's due.
Supplier Payment Routing - VSPIRE will route the supplier's payment based on the predetermined electronic payment method the supplier has selected and route all payments accordingly. Suppliers cannot be paid with more than one payment option.
Reconciliation File Back to Payer's ERP System - Once the supplier payment has occurred a reconciliation file back to Payer's ERP system will be sent to close the payment loop. This is done electronically for easy reconciliation.
Payer's Treasury Bank - All ACH, eCheck processing and payment instructions are sent to Payer's preferred bank(s) for settlement to suppliers. This step is only applicable if the supplier has selected to be paid via ACH or eCheck. Payer can use their existing treasury or banking relationships to settle these supplier payments electronically.
LEARN HOW TO BUILD AN EMPIRE WITH MULTIPLE SUPPLIER PAYMENT SOLUTIONS
The VSPIRE Integrated Payables Solution is unique. Our methodical and analytical step-by-step consultative approach guides businesses, like yours, through a solutions-oriented way and allows you to improve your 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.