4 Tips for Data Security in Our Electronic Payments World

Posted on May 11, 2018 10:52:05 AM by Chad Clay

Data security for electronic payments is serious business in the world of B2B transactions. According to Infosecurity Magazine, close to 1.4 billion records were compromised in data breaches between January 1 and March 31 of 2018. Happily, these numbers - while still staggering - actually represent a significant decline from Q1 of 2017, which saw 1,442 incidents exposing 3.4 billion records. Here are four ways to make sure that downward trend in data security incidents applies to the electronic payments you make to your vendors:  

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Topics: Payment Fraud, security, SUGA

Too Good to Be True? 6 Questions to Ask a Potential Virtual Card Provider

Posted on Apr 26, 2018 10:46:03 AM by Tom Parrish

One of our most frequently asked questions about card-based virtual payments is, "Is this too good to be true?" I've found that potential virtual card users have a healthy amount of skepticism about a technology that offers better payments and increased revenue, with no investment by the buyer. In fact, "is this too good to be true?" is one of six key questions it's important to ask of your prospective virtual card provider before you sign a contract. Here they are:

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Topics: Payment Cards, Virtual Payments, Vendor Enrollment

3 Ways to Optimize Supplier Enablement For Higher Education

Posted on Apr 12, 2018 11:46:42 AM by Chad Clay

As a university accounts payable professional, you know that supplier enablement - or electronically connecting your vendors to your supply chain - in higher education is incredibly important. You need to keep things organized and in good standing with your suppliers so that you can keep their services flowing. Here's an overview of three simple strategies to optimize your supplier enablement for more efficient AP.

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Topics: Virtual Payments, Education

One File: Benefits and Best Practices

Posted on Mar 29, 2018 11:00:00 AM by Tom Parrish

Is your payment process as simple as it ought to be? With so many different ways to pay suppliers, B2B payments can get complicated quickly. Some suppliers accept card payments, such as virtual cards. Other suppliers prefer ACH or wire payments. And yes, of course, some suppliers still require payment by check. So what’s the best way to manage all of these different payments? Increasingly, Accounts Payable departments are turning to one file payments to address the challenge of multiple payment types and bring unprecedented ease to the AP process.

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Topics: Virtual Payments, Consolidated Payments, One File

The Basics of Virtual Card Payments Technology [INFOGRAPHIC]

Posted on Mar 15, 2018 11:39:10 AM by Chad Clay

If you're like most professionals who are responsible for making payments for a corporate or nonprofit organization, you're continually seeking to maximize efficiency and minimize the cost of doing business. Virtual card technology does both, offering the opportunity to turn a manually intensive operating expense into an automated process that actually generates revenue for your organization.

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Topics: Payment Cards, Commercial Cards, Electronic Invoicing, Virtual Payments

Game-Changers: 4 Innovations Transforming Commercial Payment Programs

Posted on Mar 2, 2018 2:18:02 PM by Tom Parrish

A new generation of game-changing innovations is rapidly transforming commercial payment programs. Acknowledging that AP professionals need access to their accounts from a variety of places, not just their office computers, these three features make monitoring online commercial payment activity easier and more efficient, while making commercial cards - especially virtual card - a more attractive product than ever for banks to offer their treasury clients.

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Topics: Commercial Cards, B2B Innovation

Better Than a Valentine: Virtual Card Delivers Sweet Rewards

Posted on Feb 15, 2018 1:03:00 PM by Chad Clay


Every quarter, we send a little valentine to each of our customers: a rebate check that pays them back for using virtual cards to pay their suppliers. Last week, we were thrilled to send our clients their checks for the most recent quarter - a valentine that keeps on giving.

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Topics: Kontrol, Nonprofit Organizations

How Virtual Card Payments Could Eliminate Your 1099 Hassle

Posted on Feb 1, 2018 1:00:00 PM by Chad Clay

It's the first day of February; do you know where your 1099 forms are? If your organization is on top of things, your 1099s were issued to your service vendors and filed with the IRS long before the January 31 deadline. But if they weren't, or you're still recovering from the painful experience of tracking down all your applicable vendor payments, take heart: Next year, virtual card payments could eliminate your 1099 hassle.

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Topics: Payment Cards, Virtual Payments, Taxes

All Together Now: Combating Payment Fraud Takes a Team Effort

Posted on Jan 18, 2018 1:32:20 PM by Tom Parrish

Payment fraud is one of the most pressing dangers that organizations routinely face. The stakes are incredibly high: If you aren't careful, your organization may quickly lose thousands - even millions - of dollars to payment fraud. And though no executive expects to encounter fraud at the hands of a business partner or client, one should always be prepared for it. Your employees should be fully trained to recognize security risks, report them and take measures to combat them. This is one initiative that is truly a team effort.

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Topics: Payment Fraud, security

New Year, New B2B Payments Process?

Posted on Jan 4, 2018 1:27:08 PM by Chad Clay

We don't know about you, but after the excesses of the holiday season, those gym membership promotions that are everywhere right now start looking really appealing.

The problem with those introductory gym membership rates, of course - aside from any lack of willpower on the part of the new member - is that they're meant to lure you in, get you hooked on their classes/saunas/smoothies, and then charge you a considerably higher rate once you've decided you can't live without them. Wouldn't it be great if instead of raising the price once you were in, your gym rewarded you for your commitment to physical fitness by paying YOU? 

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Topics: Virtual Payments