Rillion Announces Rillion Pay – Automated Payment Solution
Published on: 31 March 2023
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Rillion has announced Rillion Pay, a fully managed payments operations solution enabling organizations to eliminate paper checks and manual payment processes.
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Rillion has announced Rillion Pay, a fully managed payments operations solution enabling organizations to eliminate paper checks and manual payment processes.
Organizations are discovering the value of automating manual tasks and the management of vendor invoice payments. Online payment automation such as Rillion Pay, or Payments as a Service (PaaS), helps organizations save time, reduce costs, prevent fraud and gain visibility into their payment process.
Payment Automation Reduces Manual Work
Payment automation is a valuable tool for companies looking to outsource their vendor invoice payments. Without automation, accounts payable teams and finance teams have to be physically together to accomplish tasks such as signing physical checks, doing check runs and managing paper and paper delivery processes.
After implementing a payments solution, outdated paper-driven processes are removed from the payment process. Time is saved with a digital payment solution that offers better auditing and control functionality.
Reduced Costs
Companies save time by removing administrative payment tasks. Costs are reduced because manual work and paper processes are eliminated. Fraud is prevented with reduced payment management liability, and organizations get insight into who is being paid, by how much and by what method.
Finance administrators can take advantage of modern electronic payments including virtual cards, ACH, Enhanced ACH, eCheck and international wires. Account information is securely collected, validated, encrypted and stored.
Data cleaning and enrichment ensures payment data is always up-to-date and reliable for making accurate payments and increasing electronic payment conversion.
Reducing the Risk of Fraud
Reducing fraud is a top priority for CFOs. Rillion Pay provides a complete audit trail and full visibility to track down and understand the path of a payment for both internal and external investigations.
Rillion Pay is SOC compliant and is offered alongside the Rillion AP Automation platform that includes invoice data capture, approval workflow, automated PO matching and a searchable invoice archive in the cloud.
Find out more about Rillion Pay here.
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