Blog

Covering the latest in card program and payment trends - including tips, tricks, innovation, news, industry insight and much more.

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6 Reasons to Consolidate Your Supplier Base

Posted by Ben Bianchino on Sep 24, 2018

Bigger isn’t better when it comes to a supplier base.  

That’s the conclusion businesses are coming to.

More businesses are rationalizing and consolidating their supplier base to gain a competitive advantage through reduced costs, more collaborative supplier relationships and less risk of supply chain disruption.  These are some of the reasons that top-performing procurement organizations have 18 percent lower operating costs and 28 percent fewer full-time equivalent than their peers, per The Hackett Group.  In some cases, businesses are settling on a single supplier for certain commodities.

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Topics: Supplier Payments, Virtual Cards, Virtual Payments

Embracing Virtual Cards: Top 3 Benefits to Suppliers

Posted by Trafton Elsea on Aug 06, 2018

According to PRNewswire.com, virtual card payments make up 50% of all B2B payments. Suppliers are accepting virtual card payments now more than ever before, but many still rely on outdated payment methods because they believe the fees don’t outweigh the benefits. Despite the most common objections for refusing to accept card payments, virtual cards offer clear benefits suppliers simply can’t ignore.

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Topics: Supplier Payments, Virtual Cards, Virtual Payments

The Biggest Misperceptions, Mistakes and Confusions about Paying Suppliers Electronically

Posted by Molly Janssen on Apr 13, 2018

Did you miss our recent webinar with the Institute of Finance and Management (IOFM)? Don’t worry. You can still watch the recording of “Payment Myth Busters: The Biggest Misperceptions, Mistakes and Confusions about Paying Suppliers Electronically”.  

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Topics: Supplier Payments, Virtual Cards, Virtual Payments

7 Strategies for Making Your Migration to Virtual Cards a Breeze

Posted by Mark Brousseau on Apr 11, 2018

Ready to give up the high costs and hassles of paper checks and start paying suppliers via card?

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Topics: Supplier Payments, Virtual Cards, Virtual Payments

Uncovering the Hidden Costs of Paying Suppliers with Paper Checks

Posted by Mark Brousseau on Feb 07, 2018

Paying suppliers with paper checks is a costly proposition. 

The median cost of sending a paper check is $3.00, compared to a median cost of $0.29 to send an Automated Clearing House (ACH) payment, per the Association for Financial Professionals (AFP).

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Topics: Supplier Payments, Commercial Payments, Virtual Payments

Don’t Worry: You’re protected when you partner with EML

Posted by Doug Seaberg on Jan 31, 2018

When a company has spent years (and in some cases, decades) making its own supplier payments via paper check through an in-house AP department, handing over the reins to an outside partner can be intimidating, even in light of the numerous benefits.

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Topics: Supplier Payments, Virtual Payments