M&T Automated Payables Solutions
The traditional procure-to-pay process can be costly and inefficient, especially when it’s paper-based and manual. M&T Bank offers custom solutions to implement card-based payments within accounts payables, creating efficiencies and potentially generating revenue from each account paid.
M&T’s Automated Payables solutions reduce paper-intensive processing steps, create an efficient procure-to-pay process, improve cash flow, and simplify reconciliation.
Our solutions offer electronic supplier payments utilizing Visa commercial cards, which are assigned per supplier or per payment batch, to aid in reconciliation. Our tools are easily implemented and utilize a web-based interface, virtually eliminating the need for additional software. Now paying suppliers is even more efficient, saving you time and resources.
How the Automated Payables solution benefits your business
Lower costs and increase efficiencies. Streamline your operations and reduce manual check payments with electronic processing. Improve your cash flow and reduce your organization’s procure-to-pay costs.
Convenience. Our web-based solution is designed to process your card payments, send payment alerts, and offer you a reconciliation file when transactions clear. Process ad hoc payments or upload batch payment files to save time and money.
Control. Allow suppliers to take flexible payments or require them to enter the exact amount indicated on the invoice in order for a payment transaction to be authorized. Flexible reporting provides increased financial control and insight. Be in the know with automatic email alerts.
Online Access. Our solutions utilize a web-based interface, virtually eliminating the need for additional software.
Bulk Invoice Processing. Submission of large numbers of accounts payable (AP) invoices within a single file, creating efficiencies for your AP department.
Control your Payments. Allow suppliers to charge cards up to the total amount of approved invoices or require them to enter the exact amount indicated on their payment advice, thus reducing supplier keying errors and aiding reconciliation.
Reconciliation File. Access reconciliation reports electronically so you can match invoices to payments easily.
Supplier Enrollment. M&T’s Supplier Enrollment support enables you to drive acceptance and grow your program. Multiple suppliers’ profiles and account information are uploaded through a file process, easily implementing our tools in your procure-to-pay process.