enChoice Announces Payment Processing Partnership with Corporate Spending Innovations
KwikTag AP Automation Now Includes Payment Processing
KwikTag, a division of enChoice, has joined forces with Corporate Spending Innovations (CSI), a division of Edenred and leading B2B payment solutions provider. Together, the companies will integrate payment automation from CSI with the KwikTag accounts payable automation solution for Microsoft Dynamics ERP systems, beginning with Dynamics GP. The addition of this service extends the functionality and value of the KwikTag invoice workflow system to include vendor payment processing in the most optimal methods for mid-market organizations that use Dynamics.
KwikPayables for GP is an intelligent, touchless, cloud-based AP automation solution, from invoice capture through vendor payment. KwikPayables has addressed AP challenges for many years, such as the manual data entry and invoice routing claimed by 74% of AP professionals as their greatest pain point, duplicate invoice detection and purchase order matching, all of which were manual, inefficient, and expensive processes. Now, the solution powered by CSI Paysystems will also address similar challenges related to payments, such as late payments, lack of visibility into payment status and difficulty reconciling payment data to their invoices. Electronic payments also significantly reduce transaction processing costs and the multi-billion-dollar risk of fraud associated with manual payments.
“The addition of payment processing with an industry-leading partner in CSI delivers seamless, comprehensive payment automation for our customers,” says Mike Fernandes, VP of Products for enChoice. “KwikPayables for Microsoft Dynamics GP with payment processing extends the value of our currently available AP automation solutions, and it will be included as standard in the new solutions we deliver for the mid-market.”
“With the recent move to remote and hybrid workforces for many companies, CFOs have adopted a more strategic approach to spend management, specifically automating AP and payments,” said Eric Riddle, Executive Vice President of Sales and Marketing from Corporate Spending Innovations. “We are excited about the partnership with enChoice, given the expertise and relationships that KwikTag has in the Dynamics community, as it opens the door for their customers to gain measurable benefits from payment processing.”
This new partnership will enable KwikTag customers to leverage Corporate Spending Innovations’ AP-certified customer support to onboard vendors, secure and optimize their vendor payments while integrating payment settlement data with their AP automation solution in a single view. This new service will enable customers to:
- Create a new revenue stream as they have the potential to earn monthly cash rebates on virtual credit card payments.
- Automate and streamline payment batch approval and vendor payments, enabling accounting and finance team members to focus on higher value activities.
- Gain control and visibility of payments so they can maximize early payment discounts and improve vendor relationships.
- Enhance security, reduce fraud and payment costs by replacing checks with virtual, single use credit cards.
- Easily track transactions and automatically receive the payment data at the invoice level in their AP automation solution.
As a member of the enChoice family, KwikTag was founded in 1997 and is a proven leader in accounts payable automation solutions. KwikTag created the first fully integrated Microsoft Dynamics platform that could seamlessly fit into existing business processes. With nine U.S. patents and the ability to integrate with most Microsoft business applications, KwikTag solutions can simplify document management and accelerate process automation for a variety of industries and business types. Visit www.kwiktag.com for more information.
About Corporate Spending Innovations
Corporate Spending Innovations provides innovative payment solutions to world-leading brands with their highly secure corporate payment solutions that include CSI Paysystems, CSI Travel, and global-fleet fuel cards. Customers can automate 100% of B2B payables including virtual credit card, B2B payments network, ACH, check, or foreign exchange with cross-border payments settled in local currency. The company is a certified Mastercard processor and has obtained Visa Ready for Business Solutions approval. Corporate Spending Innovations is part of Edenred (EDENRED.PA), a leading digital platform for services and payments and the everyday companion for people at work. For more information, please visit www.corporatespending.com.