How Supplier Enablement Makes ePayables Easy
enterprise, b2b, Education

How Supplier Enablement Makes ePayables Easy

December 23, 2020 clock Calculating time...
Product Education

The Canadian payment landscape is changing, and businesses in every industry can recognize the value of making the shift to electronic forms of payment.

From improved efficiencies and reduced risk to easier access to cash flow, both buyers and suppliers are beginning to understand the benefits of solutions such as ePayables and commercial payment cards.

Much like a virtual credit card, ePayables are particularly attractive to buyers who want to make purchases with ease along with perks like rewards points or cash back. The current process of accepting ePayables can be complicated, cumbersome and inconsistent for suppliers, but that is where supplier enablement services from Moneris® can help.

The struggle for suppliers

When it comes to making the move to accepting ePayables, many suppliers feel frustrated and conflicted. On one hand, the benefits of acceptance are appealing as risks can be reduced, payments can go through quicker and some of the manual work within accounts receivable departments can be streamlined. Suppliers also know that choosing not to accept ePayables can negatively impact customer satisfaction levels as more buyers are actively seeking to use this payment solution.

On the other hand, the complexity of unpredictable login processes, short timeframes and custom instructions for each purchase can be overwhelming. When each transaction needs to be handled in a unique way, the margin for human error widens, creating payment delays and the potential for buyer dissatisfaction.

These issues, combined with a lack of experience in handling ePayables, leaves many suppliers wondering if accepting this form of payment is even worth it.

The dilemma for buyers

From a buyer’s perspective, buying with ePayables can potentially improve cash flow with extended days payable outstanding, making this an attractive payment solution. It can also increase efficiencies and streamline processes for the buyer by eliminating time and risk associated with cheques. So, ePayables sound like an ideal solution, but only if suppliers will accept them.

So, what’s the solution?

The solution is supplier enablement

Rather than bearing the weight of making the ePayables process seamless for suppliers, many buyers find the answer is to hand the situation over to experts. That’s where supplier enablement services come in, like the ones provided by Moneris to help buyers take on the enablement discussion.

Supplier enablement experts reach out to vendors on the buyer’s behalf to initiate the discussion and answer questions about ePayables. They then help suppliers prepare to receive payment without the complicated process they would otherwise need to navigate, minimizing the effort to accept ePayables.  

The ability to simplify and streamline a complex process through supplier enablement takes the work out of ePayables for buyers and suppliers, allowing them to spend their time focusing on their business.


The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.
®MONERIS and MONERIS & Design are registered trade-marks of Moneris Solutions Corporation.
™MONERIS B2B PAY is a trade-mark of Moneris Solutions Corporation.

 

Recommended Articles

Illustration explaining what contactless payment is, highlighting the ease of tap-to-pay technology.

What Is Contactless Payment? A Guide to How It Works and Why Your Business Needs It

What is contactless payment and how does contactless payment work? Discover how this technology speeds up transactions and improves customer experience with secure, fast processing. Learn what contactless payment is and how contactless payment works to streamline transactions. Find out how it benefits your business with faster and more secure payments.

Woman swiping a card

13 Essential POS System Features for Your Retail Business

A POS system is so much more than just ringing a transaction and printing a receipt. A smart POS system can help you run and grow your business. Here’s a list of essential POS system features that you should look for.

Business owner setting up a credit card machine, learning how to get a credit card machine for their business.

How Does Cashless Payment Work: A Guide

Going cashless is not just a trend—it’s the future of business. Learn more about how they work and why your business can benefit from them, with insights from Moneris.

Online Payment Processing

What Is a Payment Terminal: A Business Owner's Guide

Discover what a payment terminal is and how it enhances payment processing for businesses. Learn about types, security features, and future trends to select the right solution for seamless and secure transactions.