Bonita Springs, FL – CSI globalVCard announces its partnership with IPS. The integration of globalVCard into the IPS Platform will further automate the purchase-to-pay process and provide payment data to both accounts receivable and accounts payable trading partners.
Teaming with globalVCard empowers IPS to enhance their payables solutions with an industry leading electronic payment system. The integration of payment data along with invoice and purchasing information, as well as all the associated documents, in one platform will not only result in a more efficient process but will also serve as a significant tool during audits.
Adding the payment data to the IPS Platform provides maximum transparency into the transactions, but more importantly will support the interaction of the trading partners.
“IPS is thrilled to add CSI globalVCard to our service offerings,” said Greg Bartels, President & CEO of IPS. “Adding electronic payments further provides our clients with an end-to-end digital process for accounts payable.”
Highly secure virtual card technology is at the core of the globalVCard solution. The integration brings the following key benefits to IPS clients:
- Cost Savings – Virtual cards eliminate paper checks and the costs associated with them, which are estimated to cost a business up to $20 per check.
- Security – Because the single-use credit card number is issued for a single transaction, the number becomes invalid once the transaction is complete, thereby eliminating the risk of stored credit card numbers being hacked.
- 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.
“We are excited to begin our partnership with a company that is so closely aligned with our vision for the future of payables,” said Dave Disque, Managing Director for globalVCard. “IPS does a phenomenal job of automating the capture of invoice and purchasing information on the front-end of P2P. With the integration of our consolidated payment engine on the back-end, we can jointly provide added value and efficiency that is not available to customers today.”