Payment Software integrates with e-invoicing service.
Press Release Summary:
Designed for Procure-to-Pay Solutionssm platform, ADP® Payments allows companies to complete automation of procure-to-pay cycle by initiating, controlling, and monitoring supplier payments electronically. Solution integrates with clients' financial and accounting systems, enabling buyer organizations to pay virtually all of suppliers from single system. Program minimizes duplicate and erroneous payments as well as risk of late fees resulting from missed payments.
Original Press Release:
ADP Launches Payments Automation Capabilities, Integrated With E-Invoicing Service for a Seamless Procure-to-Pay Process
New Holistic Solution Taps into ADP's Payments Expertise and Removes Invoicing Burden from Organizations
ROSELAND, N.J., -- ADP ®, a leading provider of human resource outsourcing, payroll services, tax and compliance services, benefits administration and accounts payable solutions, announced the launch of ADP® Payments for its Procure-to-Pay Solutions(sm) platform. ADP Payments allows companies to complete the automation of their procure-to-pay cycle by initiating, controlling and monitoring supplier payments electronically. The tight integration of the payments functionality with ADP's invoice automation application enables ADP to offer clients a seamless, end-to-end solution from invoice to payment from a single platform.
"ADP Payments allows us to take two ADP strengths - electronic invoice processing and payment services - and bring them together into a holistic solution," said Leon Busch, Vice President and General Manager of ADP Procure-to-Pay Solutions. "This integrated solution will resonate with our clients, who already rely on ADP to move more than $1.3 trillion of funds each year."
ADP Payments reduces clients' burden in the time-consuming, multi-step payments process and draws on ADP's 60 years of experience in outsourced payments processing. This allows companies to focus on their core businesses while ADP takes over the labor-intensive process of managing vendor data and making payments. The solution easily integrates with clients' financial and accounting systems and delivers the flexibility of paying approved invoices via check or electronically, enabling buyer organizations to pay virtually all of their suppliers from a single system. Both electronic and paper invoices are paid quickly, efficiently and accurately, while clients maintain total financial control.
"Accounts payable departments continue to struggle with paper documents and manual processes, from invoice receipt through settlement. Those that have embraced automation of their payments processes, however, have driven cost improvements 60 percent greater than their peers," said Scott Pezza, Senior Research Associate at Aberdeen Group. "For AP departments that have completed the picture with true end-to-end payments integration, the benefits include not only additional cost and efficiency gains but also stronger bottom lines, thanks to increased early-payment discount capture."
Key client benefits of ADP Payments include:
-- Automation and simplification of the payment process
-- Lower processing costs and reduction in manual effort
-- Reduction in duplicate and erroneous payments
-- Decreased risk of late fees resulting from missed payments
-- Integration of early-payment discount terms into payment schedules
-- Complete visibility into invoice and payment status for buyers and suppliers
-- Removal of the burden of cost reconciliation from in-house resources
For more information, please visit www.ADPinvoice.com.
About ADP
Automatic Data Processing, Inc. (Nasdaq: ADP), with nearly $9 billion in revenues and about 550,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's website at www.ADP.com.
