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NewProducts

ing companies a big pipe for moving funds, banks can cre- Trusted resource
ate extra work, because not all suppliers accept payments
in the same way. Nvoicepay guarantees its payment products and services.
The company said its simple, secure electronic payment
"More than half of the business world's invoices are still services meet all security compliance guidelines, including
paid by paper check, and checks are 10 times more expen- SOC 1 Type 2. Its electronic print checks are printed at an
sive than automated clearing house transfers," Friede add- SSAE 16-certified, SOX-compliant location.
ed. "Accounts payable is the last spot to get automation."
Nvoicepay's expanding network includes 275,000 vendors
"Nvoicepay was the critical final step in making us paper- and more than 2,500 business owners. The company sup-
less from purchase order all the way through to vendor ports 140 currencies in 170 countries, providing a simple
payment," added Sam Rotter, Chief Financial Officer of automated flow for bill payments while eliminating related
Multifamily Management Services, a New York property costs of mailing and processing paper checks.
management company with three accounting offices and a
$250 million accounts payable (AP) budget. "They also did "Our team takes supplier phone calls, talks about invoices
a great job of incorporating work flow approval into that in flight, while collecting, securely storing and managing
process." that data," Friede said. "Our comprehensive back-end ser-
vices have lowered error rates while providing companies
Multitiered support services and suppliers with more efficient ways to manage pay-
ments."
In addition to managing approval flows and invoice pay-
ments, Nvoicepay noted that it provides an array of support Electronic payments enable suppliers to receive funds fast-
services to clients and their suppliers. Following are some er, with rich remittance details. Nvoicepay helps suppliers
examples: enroll and receive payments electronically, the company
Payment command center: Nvoicepay automated added.
solutions include a subscription service to a vendor
relationship management system to stay up to date
and optimize recordkeeping.
Dynamic supplier enablement: Nvoicepay main-
tains up-to-date supplier payment information to
help AP departments save time while maximizing
payment rebates.
Customer payment support: Nvoicepay's U.S.-
based support team provides business owners with
payment support for their customers by providing
guidance and payment issue resolution.
Supplier payment support: Nvoicepay provides
business owners with payment support for all sup-
pliers. The U.S.-based Command Center Team an-
swers questions and resolves payment issues via
phone and email. Suppliers have on-demand vis-
ibility into their payments, rich remittance infor-
mation with every payment received and access to
Nvoicepay's Supplier Portal in the Payment Com-
mand Center at no cost to the supplier.
Nvoicepay SuiteApp: Nvoicepay's SuiteApp facili-
tates domestic and international bill payments in
NetSuite, enabling companies to pay supplier bills
electronically from their native NetSuite environ-
ments.

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