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Does anyone use Comdata ePayables service?

I've been approached by Comdata to streamline our A/P payment process. It's a MasterCard based service, which significantly reduces the time spent on issuing payments. If you have any experience in this process, could you please share? Thanks.

Answers

Nicole Nix
Title: Controller
Company: Martin, Inc.
(Controller, Martin, Inc.) |

We are currently partnered with Comdata for multiple electronic payment solutions, and have been extremely pleased. This program has turned our A/P department from a cost center to a profit center with the monthly rebates we earn, which are based on our card spend. Primarily, we use their ePayable program (virtual credit cards) to pay our suppliers through A/P. Comdata will work with you to match your supplier file to their database of existing, participating suppliers. So they are able to give you a pretty close estimate of what % of your suppliers are most likely to accept payment via credit card. The way it works for our company, is that A/P processes invoices as they normally would, if paying via check. After generating a payment group, rather than printing a group of checks, our ERP system was modified to automatically send an electronic file to Comdata with all our remittance information for virtual cards to be initiated. Next, Comdata emails each of our suppliers the payment information with a unique, MasterCard account number for them to process. It is really simple for our A/P team, and allows the department to save costs by reducing our spend on check stock and envelopes, decrease the time spent stuffing checks into envelopes, and lower our postage expense. All of this in addition to earning rebate dollars each month! We also utilize the program for our purchase cards that salespeople, managers, and executives carry for T&E. Our spend with these physical credit cards are visible to Admin in real-time, so there is no lag in recording expenses each month. Comdata offers an online expense management tool that allows each of the charges to be coded, reviewed and approved by the appropriate personnel. Our dedicated Comdata representatives are extremely responsive and continuously seek to help us grow our program. I would certainly recommend a follow-up conversation with Comdata.

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