KwikTag AP Automation now includes payment processing
Tempe, AZ – August 25, 2021 – KwikTag, a division of enChoice, has partnered with Corporate Spending Innovations (CSI), a division of Edenred and a leader in B2B payment solutions. Together, the companies will integrate CSI’s payment automation with the KwikTag Accounts Payable Automation solution for Microsoft Dynamics ERP systems, starting with Dynamics GP. The addition of this service extends the functionality and value of the KwikTag invoicing workflow system to include the processing of supplier payments in the most optimal methods for midsize businesses that use Dynamics.
KwikPayables for GP is a smart, contactless, cloud-based automation solution from entering invoices to paying suppliers. KwikPayables has tackled the challenges of PAs for many years, such as manual data entry and invoice routing claimed by 74% of PA professionals as their biggest problem, detecting duplicate invoices and matching payment vouchers. ordering, all of which were manual, inefficient and expensive processes. . Now, the solution powered by CSI Paysystems will also address similar issues related to payments, such as late payments, lack of visibility into payment status, and difficulty reconciling payment data with their invoices. Electronic payments also dramatically reduce transaction processing costs and the multibillion dollar risk of fraud associated with manual payments.
âThe addition of payment processing with an industry-leading partner in CSI provides seamless and comprehensive payment automation for our customers,â said Mike Fernandes, vice president of products for enChoice. âKwikPayables for Microsoft Dynamics GP with Payment Processing extends the value of our currently available AP automation solutions, and it will be included as standard in the new solutions we are offering for the mid-market. “
âWith the recent shift to remote and hybrid workforces for many companies, CFOs have taken a more strategic approach to expense management, specifically automating PAs and payments,â said Eric Riddle, executive vice president of Corporate Spending Innovations sales and marketing. âWe are excited about partnering with enChoice, given the expertise and relationships KwikTag has with the Dynamics community, as it enables their customers to reap measurable benefits from payment processing. “
This new partnership will allow KwikTag customers to leverage Corporate Spending Innovations’ AP Certified Customer Support to onboard vendors, secure and optimize their vendor payments while integrating payment settlement data with their AP automation solution into a unique view. This new service will allow customers to:
- Create a new source of income as they have the potential to earn monthly cash rebates on virtual credit card payments.
- Automate and streamline payment batch approval and supplier payments, allowing members of the accounting and finance teams to focus on higher value activities.
- Gain control and visibility over payments so they can maximize prepayment discounts and improve supplier relationships.
- Improve security, reduce fraud and payment costs by replacing checks with single-use virtual credit cards.
- Easily track transactions and automatically receive invoice level payment data in their AP automation solution.
As part of the enChoice family, KwikTag was founded in 1997 and is a recognized leader in accounts payable automation solutions. KwikTag created the first fully integrated Microsoft Dynamics platform that could integrate seamlessly into existing business processes. With nine US patents and the ability to integrate with most Microsoft enterprise applications, KwikTag solutions can simplify document management and accelerate process automation for a variety of industries and business types. Visit www.kwiktag.com for more information.
About innovations in business spending
Corporate Spending Innovations provides innovative payment solutions to the world’s leading brands with their highly secure corporate payment solutions that include CSI Paysystems, CSI Travel and Global Fleet Fuel Cards. Customers can automate 100% of B2B debt, including virtual credit cards, B2B payment network, ACH, checks or foreign exchange transactions with cross-border payments settled in local currency. The company is a certified Mastercard processor and has obtained Visa Ready for Business Solutions approval. Corporate Spending Innovations is part of Edenred (EDENRED.PA), a leading digital platform for services and payments and the everyday companion of people at work. For more information, please visit www.corporatespending.com.
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