NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug. 8, 2017--
Today, WEX Inc. (NYSE: WEX) introduced a comprehensive B2B electronic
payments platform designed to simplify the accounts payable process and
optimize the value of every supplier disbursement. WEX’s Integrated
Payables application will enable companies across a wide variety of
industries to reduce costs, streamline processes and mitigate risk,
while capitalizing on discount and working capital opportunities.
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 Bob Sneed,
VP of Corporate Payment Solutions for WEX. “By helping our clients take
a more strategic and disciplined approach to payment optimization, and
providing the tools to achieve it with WEX Integrated Payables, we are
driving bottom line results for our customers and their suppliers,” said
Sneed.
To learn more, visit https://www.wexpayables.com/ap-solutions/.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing
approximately 10 million vehicles and offering exceptional payment
security and control across a wide spectrum of business sectors. WEX
serves a global set of customers and partners through its operations
around the world, with offices in the United States, Australia, New
Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway and
Singapore. WEX and its subsidiaries employ more than 2,700 associates.
The company has been publicly traded since 2005, and is listed on the
New York Stock Exchange under the ticker symbol “WEX.” For more
information, visit www.wexpayables.com
or www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
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Source: WEX Inc.
WEX Inc.
Kellie Jones, 615-777-4613
kellie.jones@wexpayables.com