There are substantial cost savings opportunities to payers like you, who switch from traditional paper check payments to virtual card payments. How is this possible?
Before virtual cards were used as a method of payment, many payers used ACH direct deposit to route transactions electronically in an attempt to reduce the administrative costs related to printing and mailing paper checks. The challenge with ACH direct deposit is that providers are required to enroll in the program in order to make the switch from paper to ACH. This means that the majority of payments are limited to only those that enroll. It also means you are limited in the ability to save costs as well.
No provider enrollment means substantial cost savings
By cutting out this barrier to entry, you now have the ability to switch the majority, if not all, of your provider payments from paper checks to virtual card payments. The result is a substantial cost savings that could be substantial.
How much? Try our calculator to find out.
In many cases, member clients have benefited from cost savings that have exceeded what they were paying to print and mail checks. For some clients, this savings was in the millions of dollars every year.
This is compounded by the efficiencies of your staff by eliminating the hassle of managing provider enrollment for ACH and the need for your mail room or other staff to print and stuff envelopes.