How Remote Payment Services (RPS) Can Maximize Your AP Team’s Productivity, Reduce Risk, and Boost Your Revenue
What could your AP team do for your business if they spent less time manually printing, signing, stuffing envelopes, and mailing checks? Imagine what would happen if you freed them up to do more fulfilling work that supports your organization’s goals.
With Mekorma Remote Payment Services (RPS), you can stop printing checks and instead automatically send payment information from your ERP system to a third-party provider that will pay all of your vendors for you.
While reducing the likelihood of AP team burnout from tedious, soul-destroying tasks associated with printing and approving checks, you also create the opportunity to streamline your Account Payables workload, while reducing the potential for fraud, and even gaining a potential new revenue stream.
Think of the ease and the opportunity. No more (or a lot fewer) checks. More time for tasks that genuinely support and enhance your business, while simultaneously supporting better wellbeing and job satisfaction for your AP employees.
Keep reading to learn how RPS can elevate your payment processes and unleash your AP team’s full potential.
What is Remote Payment Services?
RPS or Remote Payment Services is an integrated add-on solution for Microsoft Dynamics GP or Microsoft Dynamics 365 Business Central that safely transmits your business’ payment data to a trusted outsourced payment provider who then handles all payments for your business.
There are numerous benefits to using an outsourced payment provider through RPS including:
Simple Payment Processing: Paying vendors in multiple ways including issuing ACH, EFT, sending virtual credit card payments, and even handling the printing and mailing of checks if needed.
Offloading Vendor Management: Continuously onboarding and managing 100% of your vendors for you.
Handling Issues: Outsource the handling of any payment issues or inquiries from your vendors.
Increased Security: The outsource provider takes on all liability for payments they send. So, you’re off the hook for any fraudulent activity!
Potential Revenue Stream: The outsource provider works on your behalf to convert vendors from checks to accepting virtual credit cards, earning rebates for your business!
- Freeing Up Valuable Time for Your Team: Using Remote Payment Services gives your team more time to focus on tasks that benefit your business goals.
RPS is also a more environmentally friendly solution! When you switch to Remote Payment Services, your employees (and the environment), and your organization’s bottom line will thank you.
Still Not Convinced? Here are 5 Great Reasons to Use Remote Payment Solutions
Reduce Or Eliminate Paper-Based Payments: The days of paper dependence and slow processing are coming to an end. With Mekorma’s Remote Payment Services, you will still have the option to print checks if needed, but you won’t have to rely on a time-consuming, inefficient, and expensive process any longer. No more check-stuffing marathons!
Gain Flexibility to Pay Vendors Electronically: If you’re ready to start setting up electronic payments but don’t have the bandwidth to collect all the required information, Remote Payment Services can help. Our partners will onboard and continuously enroll and maintain your vendors’ banking information so you don’t have to. You’ll have the flexibility to pay by check, ACH or virtual credit card without the hassle of timely setup.
Give Your AP Team More Fulfilling Work & Reduce Burnout: It can be frustrating watching your AP team spend so much time generating, signing, stuffing, and mailing checks. Not to mention the effects of such monotonous work on your employees. Instead, RPS allows your team valuable time to upskill or dig into more strategic and exciting work, leading to an increase in both individual employee and overall company wellbeing.
Build A Stronger Defense Against Fraud: Business email compromise and check fraud can be very serious threats to your organization’s finances. With Mekorma’s solution in Microsoft Dynamics GP or Dynamics 365 Business Central, you have the power to approve or deny payments directly before sending them to the outsourced provider for processing. With Remote Payment Services, our partners take on the liability for all payments sent through their platform. You’re off the hook for any committed fraud.
Generate Rebates from Virtual Card Payments: Who doesn’t love extra cash for your business? With RPS, you’ll benefit from rebates whenever payments are made by virtual card. You could potentially see more money in rebates than you pay for services, which means an increase in revenue for your organization. That’s a win in our books.
Still need help determining if RPS is right for your business? The short answer is it probably is. If your company performs accounts payable (AP) tasks in Microsoft Dynamics GP or Microsoft Dynamics 365 Business Central, RPS is likely a good fit for your organization. See our quick guide here to find out if RPS is right for you.
Your AP team has bigger dreams and potential than the time-consuming process of printing, stuffing, signing, and mailing checks allows.
Think of RPS as a way to improve the overall well-being of your organization’s AP department and cash flow. Plus, you’ll still have the advantage of maintaining your system of record and all approvals within your ERP.
By reducing boring and unnecessary tasks, you’re increasing your AP team’s chance to contribute effectively and strategically to your company.
And, with outsourced payments, you’re also increasing security, and potentially adding to your organization’s revenue. Simple. Effective. Empowering.
