Online Bill Pay Is Reaching A Whole New Market

Online Bill Pay Is Reaching A Whole New Market

June Blog Series: A Case For…​

Insights From: SK Global Software

Edgewater Fullscope is pleased to announce the latest blog post in our monthly partner blog series. This week's post features an article from Aynsley Keller, marketing director at SK Global Software, LLC, which specializes in global treasury automation and has over 1,300 organizations using its eBanking Suite for Microsoft Dynamics.​

There once was a CFO named Jane. It wasn't a surprise to any of her friends or co-workers that outside of her gig as financial officer for a large engineering firm, she also managed her families' finances as well – balancing the checkbook, opening bills and scheduling payments.

Over the last few years, her tasks as family bookkeeper had been significantly reduced as her friend, the internet, took more and more of the hassle out of the job. Jane essentially spent a few minutes each month on her iPad logging in to a few websites and paying her bills online while watching one of her favorite TV shows.

THEN ONE DAY ….

She came to work wondering why she couldn't do that same thing for the bills her AP clerks needed to pay each month. And she asked herself, "Why don't we offer online bill pay to our customers so that we can reduce the time taken to receive payments for the invoices we send out?"​​​

​​​Based on an average of 450 invoices a month,

the average cost of invoicing is $60,000, with 90% of that being labor.​​

Today's consumers are paying 45% of their bills online

The numbers of consumers who used checks to pay bills reduced drastically from 61% in 2000 to 29% in 2010 and that was 5 years ago!

-Source

The eBanking Suite for Dynamics AX to Add Online Bill Pay This Fall

The eBanking Suite for Microsoft Dynamics AX is built by a popular ISV, SK Global Software (formerly Sandler-Kahne Software), which has been active in the Microsoft Dynamics channel for over 20 years. The 6-module suite includes AP EFT Plus!, Positive Pay Plus! , eBankRec Automation Plus!, AR EFT Plus!, AR eSettlement w/ Lockbox and now ePay Advantage (Powered by Nodus).

What is ePay Advantage?

ePay offers the latest in online bill presentment and payment technology for enterprises. Send invoice notifications to your customers. Let your customers view and pay their invoices online by either credit card or electronic check. Eliminate double entry, wasted man hours, and endless journeys down a paper trail. The ePay module provides real-time payment processing and eliminates double data entry. It seamlessly integrates the payment back to the accounting system and automatically applies payments to invoices.​

Convenience Can't Be Without Security

ePay Advantage Powered by Nodus is streamlined, secure and PCI Compliant. With ePay, powered by Nodus, merchants can remove the credit card entry point, transmission and storage of sensitive payment information from their environments. Nodus Technologies' PayFabric is a PCI-DSS certified solution.

What Does PCI Compliance mean?

The major credit card issuers created PCI (Payment Card Industry) compliance standards to protect personal information and ensure security when transactions are processed using a payment card.

Why does ePay Advantage simplify attaining compliance?

  • Point of entry for credit card data does not belong to the merchant's site
  • Credit card data is not stored on merchant's site
Edgewater Fullscope and SK Global Software partner to bring Dynamics AX users global treasury automation solutions to help increase automation and reduce time and money spent on crucial banking and treasury functions. Learn more about The eBanking Suite for Dynamics AX at www.sksoft.com.
 

online bill pay, ebanking, Partner Blog, partner blog