U.S. Bank simplifies accounts payable, digitally transforms invoice-to-pay process with AP OptimizerTM
November 10 2020 - 1:00PM
Business Wire
U.S. Bank has introduced AP Optimizer, a digital tool that
simplifies and transforms invoice processing and payments for
businesses within a single system. Additionally, organizations can
reduce costs, create rebate opportunity and better manage working
capital.
“AP Optimizer is a big win for our customers and is part of our
strategy to provide an integrated offering to manage Accounts
Payables,” said Jeff Jones, head of Corporate Payment and Treasury
Solutions for U.S. Bank. “Our customers will have the ability to
transform workflows and payments to a digital solution with
improved visibility, embedded security and fraud mitigation
tools.”
AP Optimizer connects businesses to the established Bottomline
Paymode-X network of 425,000 suppliers. Businesses can start paying
suppliers in the network immediately upon implementation. And, by
integrating with Enterprise Resource Planning (ERP) platforms,
customers can quickly eliminate costly manual processes through the
migration to electronic payment methods like virtual cards, ACH,
and wires while also having an opportunity to earn rebates.
“The combination of connecting our organization with a large B2B
electronic payment network, and the ability to have an integrated
payables solution offering both virtual pay and ACH leveraging our
existing ERP system, made AP Optimizer the obvious solution for
us,” said Mitchell Watson, vice president and CFO of Carson Tahoe
Health, which participated in a pilot of AP Optimizer and will soon
be fully implemented. “Not only will we see the benefit of
eliminating our paper processes, but U.S. Bank will handle the
heavy lifting for us with vendor outreach and enrollment. And, we
gained peace of mind from built-in fraud protection delivered by a
trusted bank partner.”
About U.S. Bank
U.S. Bancorp, with more than 70,000 employees and $540 billion
in assets as of September 30, 2020, is the parent company of U.S.
Bank National Association, the fifth-largest commercial bank in the
United States. The Minneapolis-based bank blends its relationship
teams, branches and ATM network with mobile and online tools that
allow customers to bank how, when and where they prefer. U.S. Bank
is committed to serving its millions of retail, business, wealth
management, payment, commercial and corporate, and investment
services customers across the country and around the world as a
trusted financial partner, a commitment recognized by the
Ethisphere Institute naming the bank one of the 2020 World’s Most
Ethical Companies. Visit U.S. Bank at www.usbank.com or follow on
social media to stay up to date with company news.
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Kristin Kelly 303.585.4129 kristin.kelly@usbank.com
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