4 Reasons Why Virtual Card Payments Have Surged Among Nonprofits

Posted on Sep 6, 2018 12:43:15 PM by Tom Parrish

Most of the conversation around card payments in the nonprofit sphere tends to be about the best ways to process electronic donations. This focus is, of course, highly understandable: No 21st century nonprofit can thrive without empowering donors with an easy means of supporting the organization. But what about the flip-side of the payment coin? Nonprofits have to pay their suppliers, too, and some ways are smarter and more beneficial to charitable organizations than others. 

For instance, when nonprofits implement virtual card solutions for their automated accounts payable, the accrued benefits can be exceptional - revolutionizing not just the accounts payable process, but organizational funding strategies, as well. A not-for-profit organization that implements virtual card payments for a significant portion of its AP spend can expect to reap a host of perks, including cost-savings; time-savings; heightened payment security and control; and most compellingly, an alternative source of revenue to help fund its mission. 

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Topics: Nonprofit Organizations, Virtual Payments

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: Nonprofit Organizations, Kontrol

Exploring the Value of Virtual Payments for Nonprofits

Posted on Dec 21, 2017 10:47:00 AM by Tom Parrish

Nonprofits play a vital role in communities worldwide, often providing crucial support to those who need it most. Because of their status, nonprofits enjoy certain financial benefits to which for-profit organizations may not be privy. One financial tool that for-profits have embraced, however, can also be particularly useful to nonprofits: Virtual card payments. Virtual card presents unusual benefits in cost-efficiency, payment efficacy and security to nonprofit organizations.

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Topics: Nonprofit Organizations

4 Ways Virtual Card Payments Are Revolutionizing Nonprofit AP

Posted on Mar 30, 2017 3:23:24 PM by Tom Parrish

 

When nonprofits implement virtual card solutions for their automated accounts payable, the accrued benefits can be exceptional - revolutionizing not just the accounts payable process, but organizational funding strategies, as well. A not-for-profit organization that implements virtual card payments for a significant portion of its AP spend can expect to reap a host of perks, including cost-savings; time-savings; heightened payment security and control; and most compellingly, an alternative source of revenue to help fund its mission.

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Topics: Nonprofit Organizations, Virtual Payments

An AP Valentine: Virtual Cards Deliver Sweet Rewards to Nonprofit Users

Posted on Feb 9, 2017 8:00:00 AM 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 particularly thrilled to send our clients their checks for the most recent quarter - it was our biggest yet in terms of rebate volume.

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Topics: Nonprofit Organizations, Kontrol

How Nonprofits Are Tapping an Alternative Revenue Stream by Paying Their Bills

Posted on Apr 7, 2016 7:30:00 AM by Scott Songer

Nonprofit finance professionals face a financial management challenge unique to charitable organizations: Generating enough revenue to meet the expenses associated with fulfilling their organization's mission, without jeopardizing its not-for-profit status.

Happily, striking this balance isn't a matter of luck or magic: Next-generation nonprofits have at their disposal a number of fundraising and investment tools to help boost revenues both ethically and sustainably. The most exciting of these, from our perspective, is 
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Topics: Virtual Payments, Nonprofit Organizations

A Valentine for Our Virtual Card Customers

Posted on Feb 11, 2016 10:00:00 AM by Chad Clay

Every quarter, we send a little valentine to each of our customers: a rebate check that pays them back for using our card-based virtual payments solution for their AP. This month alone, we've sent more than $140,000 in rebates - not bad for a service that costs nothing for our customers to implement!

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Topics: Kontrol, Virtual Payments, Nonprofit Organizations

Card-Based Virtual Payments: Doing Good for Those Who Do Good

Posted on Sep 22, 2015 7:30:00 AM by Scott Songer

Most nonprofit organizations face a unique financial management challenge: They must generate enough revenue to meet the expenses associated with fulfilling their missions, without jeopardizing their not-for-profit status.

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Topics: Nonprofit Organizations

Get Smart: How Higher Ed Is Driving Revenue Through Intelligent Procurement and AP

Posted on Jun 18, 2015 7:30:00 AM by Scott Songer

The Chronicle of Higher Education recently looked at the ways universities are seeking to cut costs through more evolved procurement strategies (as in, every department doesn't need to order its own copy paper from its own source).

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Topics: Education, Nonprofit Organizations

Sharing the Love: Kontrol Gives Back

Posted on Feb 12, 2015 7:00:00 AM by Chad Clay

Every quarter, we send out a little valentine to each of our clients: a rebate check that pays them back for using our card-based virtual payments solution for their AP. We love this part of our jobs (our clients kind of like it, too) because it feels a little like paying it forward. We give back to our clients - including universities, healthcare providers, small businesses, and nonprofit organizations - so they can better do their own good work.

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Topics: Kontrol, Nonprofit Organizations