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NewProducts

Company: Compeat
Product: Compeat Advantage
Website: www.compeat.com
Contact: clint.blaylock@compeat.com

Automated bill pay a boon for restaurants

ompeat Inc., a provider of restaurant software works directly with merchants' vendors to accept the
and integrated business management solutions, VCC and pay bills using the VCC, enabling restau-
added Compeat Pay to Compeat Advantage, rants to earn rebates based on payment volume.
C its restaurant accounting platform. Designed
to help restaurant owners and managers reduce costs and • Positive Pay: Positive Pay is an automated fraud de-
improve efficiencies, the automated bill payments solution tection tool used by most banks to ensure top security
replaces manual bill systems with a range of automated by matching each requested check payment against a
bill payments options, including check, automated clearing list of approved payments authorized by the compa-
house (ACH) and virtual credit cards, company representa- ny. While Positive Pay is the best way to deter fraud,
tives stated. creating the list takes time and effort, which causes
some operators to procrastinate. Compeat Pay auto-
"We could not be more thrilled about finding a way to solve matically generates the list of approved payments
one of the restaurant industry's biggest pain points," said and transfers the list to the bank.
Jeff Stone, CEO at Compeat. "It has also changed the way
that we pay vendors within our own company." "We build the Positive Pay file for our customers and
make it easy for them," Blaylock said. "When our cus-
"Compeat Advantage now has integrated bill payments," tomers realized that we would automate Positive Pay
added Clint Blaylock, vice president of payments at for them, they initiated the process with their banks."
Compeat. "We've taken stuffing envelopes, buying stamps Save time, enhance security
and other inconveniences of manual bill payment systems
off of the restaurant owner's plate." Blaylock noted that Compeat Pay enhances a client's

Automated payments options current payment flow while leaving existing systems intact.
Compeat Advantage, specifically built for restaurants,
Blaylock additionally noted that Compeat Pay has no setup, gives customers control of their operations and bottom
implementation or recurring monthly fees for qualified line. The solution helps restaurateurs manage every detail
Compeat Advantage customers. The Compeat Pay solution of their business, he stated. By integrating inventory,
is fully integrated with customer banks to facilitate secure, labor, scheduling and bill payments into one single-access
accurate and fully automated bill payment processing. platform, Compeat Advantage is a central hub designed to
He noted the service provides the following features and simplify restaurant management.
benefits:
Additional benefits include comprehensive audit trails,
• Checks: Compeat prints and mails checks on be- enhanced security, paperless option with full scanning
half of merchants, using bank information on their capability, consolidated reporting options using inter-
checks, leaving existing processes and bank recon- company capabilities, and convertible purchase order and
ciliations unchanged. invoice imports designed to reduce data entry.
• ACH: Compeat integrates with merchants' banks, us- "Compeat currently works with an array of leading
ing existing customer accounts to automate creation restaurant industry specialists, including ISOs, ISVs,
and delivery of ACH files, without changing current VARs and third-party service providers," Blaylock said.
processes or bank reconciliations. "We also offer vendor management solutions to help our
sales channel and distribution partners efficiently manage
• Virtual credit card: Compeat issues a pre-approved, customer-to-vendor communications.
one-time use virtual credit card (VCC). Compeat

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