OnPay Solutions: Driving Change through AP Automation

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OnPay Solutions: Driving Change through AP Automation

Neal Anderson, President & CEO, OnPay Solutions Neal Anderson, President & CEO
Even as COVID-19 took the world by complete surprise, it shone the spotlight on the limitations of accounts payable and accounts receivable systems within enterprises. In the current scenario, with most of the workforce working remotely, CFOs and AP departments must look beyond paper checks and move toward digitalization. A well-designed intelligent AP automation solution could automate the payments process and help organizations weather the current economic turbulence while setting them up for success in the future. As one of the renowned names in the accounting space for AP and AR automation, this is where OnPay Solutions makes its mark.

Florida-based OnPay Solutions helps enterprises streamline their AP and AR processes and eliminate their manual, paper-based functions through its flagship solution, OnPayConnect. The proprietary solution with cloud-based accounts payable functionality seamlessly integrates with an organization’s existing ERP and accounting systems and helps customers migrate to digital payment systems in days, not months. “Through OnPayConnect, we are offering organizations a digital transformation away from manual accounting processes while lowering their costs, maximizing efficiencies, and ultimately improving the quality of their accounting departments,” explains Neal Anderson, president and CEO of OnPay Solutions.

OnPayConnect’s comprehensive workflow offers a painless path right from the digitization of invoices (eInvoicing) and processing them to their approval and eliminates the errors in payment processing, making the payments ecosystem robust. The platform digitalizes a myriad of tasks, including invoice automation, electronic vendor payments, and accounts receivable functions, to name a few, and aids companies in tracking their payments processing effortlessly.

One of the notable aspects of OnPayConnect is the solution’s vendor marketplace. Vendors ably supported by the company’s onboarding team can self-register into an electronic payment program and receive e-payments from their customers.

Juliet Negrete-Anderson Founder & COO
“Using OnPayConnect to make timely payments greatly improves the relationship between vendors and suppliers,” remarks Juliet Negrete-Anderson, founder and COO of OnPay Solutions. “We have currently processed close to 20 billion in AR and AP spend, a huge jump from about seven billion dollars last year,” she adds with pride. The platform also allows vendors to access their associated payment information and process their credit card payments through the portal. Vendors can be kept in the loop on the status of their invoices and payments, as well as their remittance information.

To further highlight the effectiveness of OnPayConnect, Juliet explains about a Florida-based grocery store chain that had physical stores across 35 locations. Each store had its own accounts payable department, which printed and mailed multiple checks to the same vendor every week. After partnering with OnPay Solutions, the client effectively restructured and streamlined their payment process and consolidated all their payments. As a result, each vendor received a single e-Payment with each store’s remittance details instead of 35 different checks per week.

In a move to enhance its accounting automation platform, OnPay Solutions is adding more tools and a dashboard to manage card payment issues. The dashboard will enable CFOs to track important payment-related information, displayed with easy to read visual and graphical details, and updated in real-time. According to Neal, catering to the growing demand for automation solutions with a faster onboarding process has placed OnPay Solutions on the fast track to growth. It comes as no surprise that with its strong focus on delivering exceptional customer service, the company has successfully maintained low churn rates.

As COVID-19 profoundly impacts the B2B payments landscape, OnPayConnect improves AP processes by facilitating “No Touch Payments.” “With all the electronic alternatives in the market, there has never been a better time for CFOs to migrate to electronic payments processes that generate revenue,” concludes Neal.

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OnPay Solutions

Company
OnPay Solutions

Headquarters
Jacksonville, FL

Management
Neal Anderson, President & CEO and Juliet Negrete-Anderson Founder & COO

Description
OnPay Solutions help companies streamline AP and AR processes, digitize paper invoices, and convert expensive paper-based payments into digital e-payments. The company’s flagship solution OnPayConnect, with cloud-based accounts payable functionality seamlessly integrates with an organization’s existing ERP and accounting systems and helps customers migrate to digital payment systems in days, not months. The platform digitalizes a myriad of tasks, including invoice automation, electronic vendor payments, and accounts receivable functions, to name a few, and aids companies in tracking their payments processing effortlessly. OnPayConnect’s comprehensive workflow offers a painless path right from the digitization of invoices (eInvoicing) and processing them to their approval and eliminates the errors in payment processing, making the payments ecosystem robust