Bonita Springs, FL – CSI globalVCard, a leading provider of electronic payment solutions, and ReactorNet, a premier provider of cloud-based collaborative spend management solutions for medium- to large-sized companies, today announced a partnership centered on integrating their technologies. The integration will further enhance ReactorNet’s procure-to-pay platform, EPRO, to allow customers the option of paying suppliers through CSI’s highly secure globalVCard payment system.
ReactorNet’s innovative solutions help its customers reduce paper on the front-end by converting paper invoices to electronic format. With the addition of globalVCard, the reduction of paper further extends through the payment process, providing the ability to pay suppliers electronically via secure virtual credit cards, ACH or eCheck. Customers will benefit from a completely seamless and automated experience, from capturing and approving invoices to issuing secure payment, without human intervention.
“ReactorNet’s focus is to continually evolve our software, whether through on-going development or through integrated solutions,” said Anthony Kylitis, Vice President of Marketing for ReactorNet. “Through this partnership with CSI globalVCard, our integrated payment capabilities will be advancing by leaps and bounds, keeping us at the forefront of innovation in the procure-to-pay arena. We also believe that through the vision and leadership of CSI globalVCard, we will remain at that forefront for years to come.”
The software integration will bring the following key benefits to EPRO clients:
- Security – a secure, compliant payment system is at the core of CSI’s globalVCard solutions. Single-use virtual credit card payments offer additional security since the card number becomes invalid once the transaction is complete and therefore cannot be compromised.
- Cost savings – electronic payment processing greatly reduces paper checks and the costs that go with them, estimated to cost a business up to $20 per check.
- Speed – through the system integration, payments are completely automated, significantly increasing efficiencies and eliminating the risk of manual error.
- New revenue – customers earn monthly cash back rewards based on virtual card transactions.
“The market is beginning to recognize the need for complete end-to-end solutions that automate the entire procure-to-pay process,” said Liane Sanson, CSI’s VP of Partner Programs. “Our integration with ReactorNet enables their clients to realize this potential. It’s exciting to play such a pivotal role in the innovation of procurement solutions and we are looking forward to a long and prosperous partnership with the ReactorNet team.”