Seamless integration with SYSPRO ERP Software enhances payables process, automates and produces rebates and incentives
SYSPRO USA, a global provider of ERP software announced a partnership with Priority Technology Holdings, Inc. and their market leading accounts payable (AP) solution, CPX, enhancing SYSPRO’s already robust accounts payable capabilities. With this new offering, named Automated Payables for SYSPRO, powered by Priority CPX, SYSPRO customers can enable AP automation, digitizing supplier payment capabilities within SYSPRO ERP Software.
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Previously, manufacturers would receive an electronic or paper invoice, which would trigger a series of manual processes that culminates in a paper check mailed to the vendor. It’s an expensive process, and error-prone, which delays payment, harms business relationships and racks up further costs. Finally, the process is vulnerable to payments fraud, a huge problem that affects 75% of companies, according to a report from J.P. Morgan.
Integrated with SYSPRO ERP Software, the solution digitizes and automates the AP payment process, providing flexible payment options. Vendors can automatically choose ACH, virtual card, check or wire to remit payment. The virtual card option is particularly advantageous – if the vendor pays in this way, instead of the manufacturer paying a per-check fee, CPX pays a rebate to the manufacturer on each virtual card transaction.
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“With the SYSPRO ERP and CPX partnership, we provide manufacturing and distribution companies with a turnkey solution to digitally transform the way payments are handled,” said Sanjay Ejantkar, Vice President of Alliances for SYSPRO Americas. “This offering enables faster, efficient payments that are more accurate and secure.”
“We are thrilled about our partnership with SYSPRO and the opportunity to bring best-in class payment solutions to their customers,” said Stephen Tackett, Executive Vice President and head of the B2B division for Priority. “Together, our technology will provide a streamlined payment strategy that delivers greater fee revenue, while reducing manual processes and minimizing risk.
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