Virtual Card Capture
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Transcript of Virtual Card Capture
![Page 1: Virtual Card Capture](https://reader035.fdocuments.net/reader035/viewer/2022062401/58f9ab24760da3da068b8083/html5/thumbnails/1.jpg)
Virtual Card Capture
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VIRTUAL CARD CAPTUREKey Benefits to Suppliers
Cash Flow Reduce Manual Labor
Reduce Costs Improve Security
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EMAILED VIRTUAL CARDSVirtual Card Payment Pain Points
Payments are increasingly sent as emails:
• Emails include links to one-time use (purchasing) cards which must be hand-keyed
• Purchasing cards carry the highest rate of acceptance (around 3%)
• Remittance is often hand-keyed into the ERP for each payment
• Repeat-use cards included in emails can also create PCI concerns
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SUCCESS IN ACTIONMedela Automates Virtual Card Acceptance and Cuts Costs
Solution:• Medela implemented Billtrust’s Virtual Card Capture
solution
• Once Billtrust processes virtual card payments, a consolidated payment file is sent to Medela daily for easy posting to ERP
Pain Points:• Medela was receiving thousands of emailed virtual
card payments a month
• One FTE dedicated eight hours a day to manually process and apply emailed virtual card payments
• Optimizing interchange was not possible, making virtual card acceptance even costlier
“You would be crazy not to go with Billtrust! We’ve been looking for a way to automate these emailed card payments for five years, and Billtrust delivered on a great solution. They truly listen to their customers.”
- Tina Schneider, Credit & A/R Manager
Results: • Touchless virtual card processing
• Reduced interchange fees associated with virtual cards by 0.26%
• Reallocated one FTE
• Simplified cash application
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HOW VIRTUAL CARD CAPTURE WORKS
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THE VIRTUAL CARD LANDSCAPE
Estimated U.S. Commercial Card Purchase Volume by Product Type
Virtual Card Spend to Exceed Traditional P-Cards by 2021
Source: Mercator Advisory Group
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QUANTUMAcceleraing the invoice-to-cash process with payment cycle management
QuantumPayments
QuantumInvoice
QuantumCash Application
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AUTOMATING INVOICE-TO-CASHReduce pain points and increase efficiency
EVOLVING AP PROCESSES
A/R PRESSURES TODO MORE WITH LESS
SHIFT TO ELECTRONIC PROCESSES
AP departments are shifting to electronic forms of invoicing and payment processes
PAPER-BASEDFORMS ELECTRONIC
FORMS
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Want to learn more about virtual card automation and accelerating your cash flow?
Request a demo!
GET IN TOUCH
www.billtrust.com/demo888-580-2455