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Case Study

Automotive Dealership Drives Toward AP Efficiency with Payments Solution

Automotive Dealership Drives Toward AP Efficiency with Payments Solution

Automotive Dealership Drives Toward AP Efficiency with Payments Solution

Corcentric Procurement
Pages 1 Pages

THE BUSINESS A Fortune 150 automotive dealership was facing a number of challenges when it came to its payment capabilities. There were process inefficiencies, including the large number of paper checks used to pay suppliers, inconsistent supplier payment terms, difficulty tracking early pay discounts, and a costly ACH validation process. A total of 3,242 transactions were converted to electronic payments and 414 suppliers made the switch to getting paid electronically. The company saw an opportunity to transform its payment processes and created a list of must-haves when it came to selecting a solution: + The ability to quickly and easily convert paper checks to electronic alternatives + A detailed audit of all vendors, including payment terms and payment type fo

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