We believe a Payment Network should be… networked. Sounds simple. Most of our friends in the industry offer some sort of “Supplier Network”, and tout hundreds of thousands of Supplier Network records.
In this case, bigger is most definitely not better.
What do we mean?
Let’s take United Parcel Service as an example. In other supplier systems, they show up as United Parcel Service (name spelled out completely), UPS (initials, all caps), ups (initials, lowercase), U.P.S. (initials, all caps, with periods)… you get where we are going with this.
Each of these are a separate record in every other system, and that’s before we get started on all the different divisions, departments, and regional offices.
Why does this matter to you?
Because a single duplicate record or data entry misstep can derail your entire electronic payment process, creating problems between you and your Suppliers, as well as providing an opening for hackers to exploit into full blown payment fraud.
Our True Payment Network is based on a single Tax ID per Supplier - resulting in the COMPLETE ELIMINATION of duplicate records.
Each Supplier enrolled in our True Payment Network has complete control over their secure profile. When they input new information — change of address, new routing protocols, etc. — it's automatically validated and updated across our network.
Which means you can be confident your Supplier data is up-to-date, and your payment is going to the right place at the right time.
Our proprietary algorithms are intelligent, and so are our dedicated account managers who keep an eye on your business throughout the payment lifecycle. Your account managers can also offer custom reporting options and data transfers that adapt to your specific needs.