If you’re using an AP automation solution, and are looking into vCards, you’re already on the right track.
Established platforms like DTI’s have relationships with vendors and with the banks that are backing these cards, enabling them to handle the enrollment process for you.
In addition, many of these platforms have negotiated preferential rebates to earn cash back for you on business expenses that you’re already incurring.
This essentially means that your AP automation solution could pay for itself.
vCards are an essential component of an AP automation solution. We look at AP automation in terms of three main components:
- Invoice Receipt and Processing
- Coding, Approval and Workflow
- Vendor Payment Automation with vCards
The third leg of the triad, Vendor Payment Automation, lets you receive a rebate on your AP spend. We enroll vendors who already accept cards, and look for opportunities with other vendors who prefer ACH and paper check. We use a gentle approach and no vendors ever feel forced to accept vCards. We can also stay away from vendors with whom you don’t want to contact about vCards.
