B2B E-Payment Solutions
Unlock your cashflow
Leverage our digitized B2B payment solutions
to boost cash flow, supplier relations, and fraud control.
Turn your payments process into an
accelerated cash flow generator
Corcentric B2B payment solutions eliminate friction in your payment process by optimizing your program through platform innovation, people support, and continuous process refinement. This combination of business payment services is the key that unlocks cash flow and expands the benefits way beyond the finance department to build stronger supplier and customer relationships, eliminate fraudulent payments, and increase overall organizational efficiency. Combined with our managed accounts receivable solutions, it has the power to transform your processes for the better.
Control your payments lifecycle, unlock your cash flow
Our electronic bill payment system digitally transfers payments, directly from your ERP or accounts payable system directly into the supplier’s designated bank account, resulting in more advantageous payment cycles, a significant reduction in fraud, and improved relationships with suppliers. Corcentric’s B2B e-Payment system accommodates a variety of payment methods, including ACH, Virtual Card, Check, and Pre-Paid Card.
Unlock Efficiency + ROI
Paper-based B2B payments are killing your competitiveness and cash flow. That’s why more companies are moving to electronic bill payment systems. Now you can transform your process with fast, frictionless, and automatic billing software that accelerates every step of the PO-to-payment cycle, while slashing the cost of making payments.
Unlock Supplier Success with PayNet
Payments are all about trusting your data. PayNet gives suppliers total control over their profile and gives you total confidence by automatically validating and updating data across the network so you know payments are correct. Deep supplier insights mean more opportunities to secure better pricing, bigger discounts, favorable terms, and competitive advantage.
Multichannel Supplier Marketing
If your suppliers aren’t fully onboard, then even the best B2B payment solutions will fail. It can be a challenge to get all of your suppliers to adopt an electronic supplier payment system. However, our dedicated Program Branding assets and Enrollment Team work to ensure 100% supplier adoption. Effectively, you benefit from full supplier base participation, while your suppliers leverage exactly the payment types, delivery options, and timing they need.
Share of CFOs who say accelerating digitization has improved their operational efficiency
Unlock Complete Security
Payment fraud is top of mind for every business today. Although fraudsters are very good at what they do—fortunately, we’re better. Corcentric StopFraud™ integrates an industry leading multi-point process to validate correct payment details and attributes to secure your data (12 points in all). And our team provides monitoring to ensure payments are delivered successfully, every time.
Unlock Industry Expertise
Customer Success Managers
We get it—you want to go digital to alleviate disruption, not add to it. That’s why payments management software technology is just part of your program success. We put our team on your team, with highly experienced customer success managers working to provide active payments program management.
Unlock Financial Flexibility
Treasury bank, local bank, international financial institution — whatever your banking preferences, our flexible system will integrate with yours. You’ll enjoy financial autonomy, making the choice of how and when to execute payments safely and securely to suppliers minus the restrictions of working solely with a treasury bank. Experience the flexibility of utilizing one payment file for all payment types: ACH, Virtual Card, Check, and Pre-Paid Card.
What are electronic payments?
Electronic payments, or e-payments, are simply a way for businesses (and individuals) to pay bills online, eliminating the need for physical checks or cash. Lower processing costs, greater visibility, and reduction in errors inherent in paper-based manual processes make e-payment systems a preferred method of payment for many businesses.
Corcentric Payments goes further with a specialized focus on payment optimization through people, process, and platform innovation. Corcentric Payments delivers payment and remittance information to all suppliers on a safe, secure, bank-agnostic platform and supports all payment types with a balanced approach to supplier management.
Will the Corcentric Payments platform increase visibility into payments and cash flow?
Absolutely. You will have full visibility into all payments and critical information from a central secure B2B billing software platform to ensure accurate reporting of cash flows for all stakeholders. You, as the Customer, will have immediate visibility into payment file timing, status, and approvals. Your suppliers will have visibility into all PayNet-issued, electronic open and processed payments directly through their profile. If you are still relying on manual processes, you likely have no visibility once a payment has been submitted. If the payment was misapplied, you may not know that until the next invoice comes in with late fees.
How does Corcentric Payments improve efficiencies?
Corcentric Payments drives efficiency by transforming manual payment methods into automated “touchless” electronic payment methods. B2B payment processing enables most payments to feed directly from your ERP to our network for processing with no human intervention. This saves time, reduces errors and increases security which will lower processing costs. You and your suppliers will have full visibility in order to track and trace all payments and ensure that suppliers know exactly what they are being paid for.
How does Corcentric Payments mitigate the risk of fraud?
You and your suppliers’ security is our highest priority. Our state-of-the-art StopFraud™ validation system stops potentially fraudulent activity by integrating 12 points of protection for valuable customer and supplier contact and payment information.
Does Corcentric help increase supplier adoption of Corcentric Payments?
Yes. Our multi-faceted supplier engagement approach ensures that suppliers are contacted and adopt electronic methods and our unique payment processing interface allows all payments to be automated as of Day 1. Customers that follow our Best Practices see a substantial increase in participating suppliers through our targeted, long-term enrollment strategies. Our dedicated Enrollment Services Team contacts suppliers to explain program benefits and assist suppliers in enrolling online, over-the-phone, or through collected documentation. This will decrease the amount of supplier inquiries you receive and build a better supplier relationship.
How does Corcentric Payments generate rebates with payments?
Corcentric Payments’ B2B payment automation ensures that your suppliers receive their payments safely, swiftly, and securely. By partnering with our experts, we assist in identifying key gaps in our customer processes that allow for seamless payment approval and facilitation.
How will Corcentric Payments help with my cash management?
If your AP is still operating manually, they likely operate in a “batch mode” when it comes to payments. That means you may be paying vendors too early or too late, depending on the due date. Corcentric Payments’ B2B payment automation ensures your suppliers are paid on time, every time, eliminating late fees and providing access to potential discounts and rebates.
Can my suppliers choose their method of payment?
They can choose from our preferred revenue-generating payment options, including Virtual Card, ACH Plus, or Pre-Paid Cards (for select programs). We also offer ACH and Check Print and Mail services.
How do I know Corcentric Payments can work with my financial institution?
Our goal is to make this move as pain-free as possible; that’s why Corcentric Payments is bank-agnostic. Whether it’s your Treasury bank, your local bank, or an international financial institution, our flexible system will easily integrate with yours.
Will integrating Corcentric Payments with my ERP system be disruptive?
Since Corcentric Payments is compatible with most ERP Systems, there should not be any discernible disruption.
How does the adoption of Corcentric Payments impact my team?
We give the supplier the flexibility to sign up for electronic payment methods that best fit their needs. By partnering with your organization, our teams become an extension of your company’s Accounts Payable division, assuming the load to help free up your resources. By following our Best Practices, we enhance our Customer processes.
What if my company already has an existing virtual card program with our financial institution?
Typically, financial institutions are not equipped to fully optimize vendor payments; thus, many large businesses are choosing their financial institution and Corcentric to double their revenue-generating payment methods and to achieve greater overall conversion through Corcentric’s continued enrollment strategies. Furthermore, Corcentric also assumes the role of processing payments on our customer’s behalf to ensure a higher fulfilled payment ratio.
From Procurement to Finance, our optimized digital payment solutions
offer multiple benefits for:
- Have confidence that the right amounts go to the right accounts every time—eliminate payment fraud and spoofing
- Reduce the number of transactions necessary to execute payment—no more sending multiple files to multiple banks
- Reduce supplier payment inquiries by 70%—a savings of $20/contact
- Configure the most optimal payment terms and extend your DPO
- Ensure delivery of invoices to the proper parties
- Validate balances due with real-time payment information
- Communicate seamlessly when inquiring about past-due/open invoices
- Gain visibility to payment trends/behavior when considering additional
increased lines of credit
- Pay suppliers faster and build stronger, more strategic relationships
- Generate opportunities for discounts, promotions, and savings
- Identify duplicate spending categories to optimize and streamline purchasing strategies
- Eliminate friction in the supplier experience
- Achieve the best possible cash flow scenarios
- Eliminate exposure to payment fraud and risk
- Gain complete visibility across your AP/AR boundary
- Get the simplicity of an audit-ready and regulatory-compliant platform
- Stop wasting time chasing misdirected money
- Get paid faster with complete accuracy using your preferred payment type
- Eliminate credit risk and gain predictable cash flow
- Set up and configure the most optimal payment terms
- Have access to our 24/7 payment status portal that provides real-time status of all payments, amounts, and timing
Corcentric maintains the highest levels of data security. Our information is protected by a unique username and password, is encrypted with 128-bit SSL security, and is continuously scanned for security breaches. In addition, your information is never shared with or sold to other institutions or companies.
Your Customer has partnered with Corcentric to help vendors like you move to electronic payments. They have asked that we contact their vendors to update contact information, including payment methods accepted. If you have questions or concerns, please contact your accounts payable resource directly.
By partnering with Corcentric, your customer will be able to pay you electronically, which reduces both their and your exposure to potential check fraud. Electronic payments also eliminate the possibility for lost checks, and significantly reduces the possibility for fraud. Electronic payments also speeds up the payment process.
If you have an existing profile, your customer can be linked to this profile to pay you electronically. Corcentric agents can assist in linking your profile to your customer by calling 800-608-0809 or emailing email@example.com.
What can our digitized, automated Payments Solution unlock for your organization?
Let’s see what we can do.