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Integrated Banking and Payment Solutions from Commerce Bank: Welcome to the Future of Business.

Let’s face it: business can be complicated, particularly in today’s environment. The last few years have been filled with unanticipated situations and unpredictable challenges. As such, the future will demand that businesses be nimble. They must be responsive. They must be focused on the important things, like efficiency, accuracy and doing more with less. And the easiest way to achieve all of this is through integration. That’s how businesses go beyond simply trying to survive. It’s how they thrive.

For more than 155 years, Commerce Bank has helped businesses of all types thrive — especially those adopting new technologies and technology standards into their operations. We know it’s not easy rolling out new systems. But we also know the payoff in increased productivity and accuracy, as well as giving your staff the ability to focus less on “busy work” and more on meaningful production is well worth it. By updating and integrating banking and payment technologies, you can not only reduce paper, workloads and mistakes, you can also gain better oversight to fraud, real-time reporting and even earn revenue.

For instance, wading through mountains of paper and comparing entries is a tedious but necessary part of Accounts Payable (AP) and Accounts Receivable (AR). But with integrated technology, businesses have better control over their money and ultimately, their success. CommercePayments® AP Invoice Automation collects and digitizes invoices sent to a client to help reduce both manual tasks and paper. And CommercePayments® Integrated Receivables is armed with multiple cloud-based plugins to help manage, reduce and automate receivable processes. Together, those AP and AR services from Commerce can reduce invoices, decrease Daily Sales Outstanding (DSO) and delinquencies while reducing staff workload — allowing staff to prioritize other projects. In today’s — and tomorrow’s — business environment, these are advantages you’re going to need.

Integrating payables and receivables is just one example of how payment automation can help businesses streamline important processes. Another advantage of automation is the power to reduce the risk of fraudulent payments. When coupled with built-in fraud detection capabilities, businesses can reduce their exposure to common fraud attacks and feel confident in the accuracy of their payments.

The range of integrated solutions from CommercePayments® includes:

Integrated Accounts Payable

  • Payment Hub, an integrated system to maintain all vendor assigned payment types to efficiently manage vendor information, facilitate payments and create a reconciliation file that ties back into Enterprise Resource Planning (ERP) Systems.

  • PreferPay®, a white-labeled portal to enable businesses to pay their customers (e.g., claims, refunds, overpayments) that can process and deliver outbound payments in 30 minutes or less.

Integrated Accounts Receivable

  • CollectPay Online®, a portal that allows businesses more payment options that can be white labeled to match the look and feel of your business.

  • Order To Cash solutions like:

    • Invoice Payment Cloud, an Electronic Invoicing Presentment and Payment (EIPP) solution that allows for low-cost invoicing and payments, while offering your buyers an online self-service channel to review open invoices, schedule card or ACH payments, and manage disputes.

    • Cash Application Cloud, a cloud-based, artificial intelligence (AI)-powered solution that allows suppliers to link multiple payment types — from varied payment channels, with payment remittance details from diverse sources — and apply the cash to open receivables in their ERP system.

    • Deductions Cloud, an AI-powered workflow management tool that helps manage the deduction process by bringing relevant claims and backup information into a single program providing automatic deduction research and correspondence.

    • Collections Cloud, a cloud-paged tool that automates the creation of worklists for collections team members, assisting in the creation of correspondence and providing a single source for tracking call logs, buyer payment commitments and dispute management.

Individually, products in the CommercePayments® suite can solve issues that have hampered the progress of businesses of every size and in every category. Collectively, Commerce Bank and our CommercePayments® products can accelerate business performance and help you realize even your most aggressive goals. With over 155 years behind us, we understand the future of business.

CommercePayments® solutions are provided by Commerce Bank.

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