Banks and other financial institutions have been offering vendor payment automation for several years. After all, they already manage your money and payments. Why would I go elsewhere?
The answer lies in the fact that a non-bank alternative will provide a better enrollment experience for your vendors. Large banks typically have a large bank mentality … with little flexibility or creativity.
A non-bank vCard and payment automation vendor will be able to achieve a greater percentage of enrollments as well as a better customer service experience for your vendors. These are important relationships for your business. After all, you can’t function without your suppliers.
In a future newsletter we’ll discuss the fact that banks offer a higher percentage of AP spend back in the form of a rebate, but your total dollars are higher with DTI.
