BuyerQuest, a recognized leader in enterprise Procure-to-Pay software, announces the launch of the BuyerQuest Pay module, a fully integrated payment processing system in the Procure-to-Pay suite.
The BuyerQuest Pay module, as part of the broader Procure-to-Pay suite, maintains the same industry-leading intuitive user experience that customers have come to expect from BuyerQuest. The straightforward but powerful payment tool is compatible with any ERP or workflow, offering users deep insights into direct and indirect spend transparency and advanced intelligence capabilities.
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With the addition of Pay, BuyerQuest users benefit from a fully automated AP experience, from the selection of goods and purchasing compliance through payment processing, all in one modern, user-friendly platform.
“The lion’s share of the automation associated with Procure-to-Pay falls within the Procure-to-Invoice processes. That said, digitizing the ‘Pay’ component of Procure-to-Pay is critical to unlocking material financial value,” says Jack Mulloy, CEO of BuyerQuest. “Through BuyerQuest Pay, our customers digitize the payment process and provide impactful financial flexibility to their supply bases.”
BuyerQuest Pay enables accounts payable monetization for mid-sized to enterprise businesses. Buyers have the ability to negotiate discounts or longer payment terms with suppliers for purchases; providing businesses with improved cash flow. BuyerQuest Pay offers highly secure and efficient payment options including Automated Clearinghouse funds transfer (ACH), foreign exchange, virtual credit cards, and ghost cards.
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Automated check processing is also provided for vendors requiring paper checks to relieve users of burdensome manual processing tasks. Pay offers users the flexibility to develop payment agreements, process payments, and manage cash flow on their own terms.
Suppliers in the BuyerQuest Supplier Network also benefit from the increased efficiencies through electronic invoices and cash flow flexibility provided by Pay. Suppliers have the ability to develop automated and flexible payment structures, including early payment discounts. Invoicing and payment processing in Pay is streamlined and efficient – all within the user-friendly Supplier Network that will continue to be provided at no cost to the supplier.
