IPS announces its partnership with CSI globalVCard . 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."
About CSI globalVCard
Founded in 1989, CSI Enterprises has provided innovative payment solutions to world leading brands, while providing the highest level of customer service. The company's highly secure financial payment products include the globalVCard virtual payment solutions and award-winning mobile applications, corporate purchasing cards, and business fleet fueling/maintenance payment cards. Businesses rely on CSI's products to control spending, reduce costs and increase profits in all areas of B2B payments, including accounts payable, business travel spending and fuel purchases. http://www.csiglobalvcard.com
Founded in 1991, IPS is a pioneer in the document automation and workflow industry. IPS provides flexible, scalable end-to-end document processing solutions that convert slow, error-prone manual processing into digital processes based on the client’s existing technology and business needs. IPS invoice automation and workflow services leverage the IPS Digital Mailroom™, IPS Intelligent Capture™, IPS Digital Workflow™ and ImageServ™ digital repository and integrate into client ERP to create a seamless P2P solution. The IPS client base encompasses a wide range of industries with over 10,000 users, including numerous Fortune 500 companies that trust IPS to deliver state-of-the-art document processing with a strong focus on accounts payable (AP) and other document centric business processes. The IPS Platform is hosted on the Amazon AWS Elastic Cloud and can easily integrate with any business application or ERP system.