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|WEX Launches New Buyer/Supplier Integrated Payables Solution on a Single Platform|
Through our cloud-based bank agnostic framework, WEX’s Integrated Payables platform supports the move to electronic payments day one by integrating a wide variety of payment options – virtual accounts (buyer and supplier initiated), network settlements, ACH, EFT with discount administration and check payments – through a single-source platform. The solution delivers greater transparency and control over the accounts payable process and easily integrates into leading financial systems, giving companies the benefit of integrated reconciliation. WEX payment consultants take a holistic approach, when working with financial executives, in analyzing a company’s supplier payment portfolio and developing a strategy to fully realize the savings potential.
WEX’s Integrated Payables solution is powered by Paygenus, a WEX B2B payment network that makes it easy for buyers and suppliers to send and receive secure payment information. Buying organizations will spend less time managing supplier payment preferences, handling inquires and updating banking information, creating greater operational efficiencies. Suppliers will receive electronic payments and remittance information to streamline receivables, reduce DSO and improve access to cash. The Paygenus Payment Network is comprised of tens of thousands of participating members providing a balanced approach across the financial supply chain.
“We’re creating a paradigm shift and making it easier, faster and
simpler to manage the complexities of accounts payable,” said
To learn more, visit https://www.wexpayables.com/ap-solutions/.
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