Starting around 2017, Paymerang has turned into a leading provider of Accounts Payable automation for a number of K-12 independent schools, which is emphatically affecting the schools’ business workplaces. Paymerang is a main Fintech firm settled in Richmond VA serving clients in a few industry areas including K-12 schooling.
A portion of the country’s most renowned free schools currently utilize Paymerang’s AP solutions: Kent School in Conn,Watchman Gaud School in S.C., Frederick Gunn School in Conn, Kincaid School in Texas and Woodberry Backwoods in Virginia. As a matter of fact, the business director of the Kent School has even spoken at meetings about how Paymerang’s Invoice and Payment Automation solutions have been a lifeline for their office by decreasing expenses, expanding proficiency, further developing security and diminishing compromise time. It assists them with maintaining the emphasis on understudies, not on tedious administrative work for bookkeeping. Paymerang is also a recognized as a preferred partner and vendor for Mid-South Independent School Business Officers and the Philadelphia Area Independent School Business Officers Association.
One of the biggest AP challenges hindering business offices is manual, paper-based processing. Manual invoice processing is challenging for schools as invoices often require approval from more than one department. Interoffice communication makes it difficult to receive invoice approvals promptly, resulting in late payments. In 2021, the average time to manually process a paper invoice was 10 days1, whereas Paymerang’s Invoice Automation saves 80% of time on invoice processing. Schools have reported saving upwards of 25 hours per week while using Paymerang’s solution.
Read: Research Reveals ‘Payment Processing As A Business’ Opportunity For Banks
One more burden to manual AP handling is its powerlessness to extortion, which is a main pressing issue for the instruction business. AP divisions have an expanded possibility becoming survivors of a business email compromise extortion attacks, and training is the business generally impacted by this sort of fraud3. Be that as it may, executing Paymerang’s top notch Receipt and Installment Robotization stages assist clients with checking these dangers.
Computerizing and digitizing work processes saves AP divisions a very long time yearly, permitting K-12 training finance groups to zero in additional on essential drives — further developing understudy maintenance and fulfillment, further developing grounds variety, equity, and consideration, and cultivating a feeling of having a place for understudies. Likewise, staff currently have additional opportunity to zero in on giving a quality training to understudies, guaranteeing that they get long lasting mastering and administration abilities and the certainty they need after graduation.
As well as saving an active time, Paymerang’s money computerization instruments likewise enable staff to propel their professions. For example, one client had the option to use the innovation to go from expert to bookkeeper, and another client had the option to move into all the more an improvement job to zero in on understudy confronting exercises.
As a premier finance automation provider, Paymerang understands that AP departments face a growing challenge of doing more with less, creating a dire need for AP automation. Implementing Paymerang is easy and straightforward, taking 10 hours or less from start to finish. Paymerang seamlessly integrates with a range of ERPs, including Blackbaud, QuickBooks, Veracross, and Senior Systems.
Read:Â Business Adoption of Emerging Electronic Payment Tools Is On Rise
[To share your insights with us, please write to sghosh@martechseries.com]Â
