Discover a less expensive, more efficient way to manage procurement expenses through Priority’s integrated payables solution, Commercial Payments Exchange (CPX).
Reduce Operating Costs & Improve Cash Flow
Automate 100% of your accounts payable file with multiple forms of secure electronic payment, including: Virtual Card, Buyer-Initiated Payments, Proxy Payments, Dynamic Discounting, ACH+, ACH and Check. Get comprehensive visibility over supplier spend and the cost savings associated with transitioning manual/check payments to a streamlined electronic workflow.
Electronic payments continue to gain traction as a more efficient and economical means of paying suppliers over traditional check processing:
- Electronic payments spend has grown an average of 10.9% per year between 2015-2018 and is expected to reach $127B by 2022. *
- Everyday more suppliers are preferring to be paid electronically from their buyers. It is quick, safe, efficient, and greatly reduces fraud.
- Respondents saved $26 per transaction when comparing the estimated cost of invoicing and payment by check against the average cost of an electronic payment. *
Priority Commercial Payments is the premier partner to industry-leading institutions and corporations. Our innovative financial services provide sophisticated and customized solutions that encourage maximum supplier participation.
* As reported by RPMG Research Corporation’s 2018 Electronic Accounts Payable Benchmark Survey Results analyzing survey responses from over 1,000 electronic accounts payable end-users.
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Our experienced payment advisors specialize in working with businesses just like yours to create innovative solutions based on your specific needs.
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