The payment mix goal (see graph):
- 60% Virtual Payments - for high dollar transactions
- 35% Distributed Card - for frequent, low dollar transactions
- 5% Paper Check
The typical "as-is" payment mix (see graph):
- 21% Virtual Payments
- 5% Distributed Card
- 74% Paper Check
By optimizing the payment mix and incorporating virtual card, you can...
The savings delivered by our virtual card solution are not soft or intangible. They arrive at your door each quarter via a cash rebate from Kontrol.
- Produce Cash - Virtual payments generate rebates that other forms of payment can't. By not taking advantage of these rebates, AP departments are wasting money.
- Eliminate Manual Tasks - Virtual payments reduce the manual work that other forms of payment force upon AP departments. Payments are easy to process and easy for your vendors to process as well.
- Eliminate "Maverick Buying" - By cutting "off contract" buying, your AP department can take further advantage of negotiated discounts. Minimizing the spend that occurs outside of purchasing channels is ideal for efficient AP departments.