Leslie King, Controller of Lexington Country Club, recalls being skeptical when the Club’s General Manager, Al Kinkle, instructed her to explore CSI Paysystems. “We were paying our vendors with checks; the process was smooth and I wasn’t eager to take on any additional work that a new system would bring.”
But the implementation was easier than she expected.“ They told me that CSI would do all the initial work, and they literally did. All I needed to do was provide them with a vendor list and they did the rest.”
The results exceeded expectations, with 50% of Lexington’s vendors converting to virtual card payments. Not only does that equate to savings on the front-end – the cost of processing paper check payments has been estimated to be up to $20 per invoice – the back-end reconciliation process is much easier.
Lexington is among the many businesses hit hard by check fraud. Because of this, extra effort is spent daily to monitor bank accounts and investigate every check payment.