Why should I care about Virtual Payments?
With the payments industry moving increasingly towards paperless vendor payments, it is important to understand how they can benefit your business, and what to look for in a virtual payment processor as you
research if Virtual Payments are the right solution for your business.
If you are involved in purchasing or financial decision-making for your company, you have likely heard the excitement surrounding Virtual Payments (also known as electronic or e-payments) over the last few years. Industry processes such as printing, issuing, mailing, depositing and reconciling checks all add to your company’s costs and take up a large amount of your staff’s time. Setting up a Virtual Payments program offers several benefits for both your business and your suppliers. It streamlines processes, improves cash flow, reduces costs, and mitigates risk for your business.