In response to COVID-19, millions of companies are opting, or being forced, to work from home. Few were prepared for the scale of this crisis and many are affected by an inability to print and mail vendor payments.
Failing to meet vendor credit terms can cut off access to inventory and vendor support when needed most. More broadly, delayed payments only serve to worsen the liquidity challenges already being felt throughout the supply chain. Even when checks can be mailed, vendors are finding their payments inaccessible, as they don’t have access to their offices.
Fast, Simple Remote Check Printing
Viewpost enables businesses to quickly and easily implement remote check printing, often on a same- or next-day basis. Additionally, Viewpost can convert checks into electronic payments, creating cash rebates for you and remote deposit efficiencies for vendors. Benefits include:
- Removing an important stress point for your AP department and organization.
- Ensuring operations are not needlessly restricted by delayed payments to suppliers.
- Helping to avoid broader economic damage by unlocking liquidity that vendors desperately need.
Electronic payments leverage virtual credit cards and ACH. Card payments do not affect customer credit exposure or require customer credit approval, technical implementation or process changes. Further, all payments sent through Viewpost clear the customer’s bank account as paper checks, leaving account reconciliation and positive pay processes unchanged.
Client Rebates for Card Payments
When vendors opt to receive electronic payment, rather than paper checks, Viewpost will heavily index on bank-issued virtual credit cards, which will create rebates that often exceed 6x to 14x the cost of check printing ($1 per payment). Said differently, the average client is expected to generate income from outsourcing check printing.
Viewpost makes setup simple and does not require substantial change to existing payment processes. In support of this initiative, dedicated implementation resources are available to assist you throughout the process.
- Contact Viewpost to work with a dedicated payments specialist
- Create a Viewpost account
- Upload check payments to Viewpost
- Payments are delivered