• Like
  • Save
Comdata Overview
Upcoming SlideShare
Loading in...5
×
 

Comdata Overview

on

  • 813 views

Learn how to improve cash flow through the automation of accounts payable.

Learn how to improve cash flow through the automation of accounts payable.

Statistics

Views

Total Views
813
Views on SlideShare
812
Embed Views
1

Actions

Likes
0
Downloads
5
Comments
0

1 Embed 1

http://www.linkedin.com 1

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Comdata Overview Comdata Overview Presentation Transcript

    • How to Transform your Accounts Payable Departmentinto a Revenue Generator
    • Comdata is a leading provider of innovative, value-added payment and information solutions
      • 40+ years experience
      • Productivity improvement, cost reduction and expense management
      • A One-Card Solution for purchasing, travel, fleet, per diem and payables disbursements
      • Provide strategy, implementation and support services
    • Treasury Management
      Voice of the Customer
      • Reduce cost and streamline business processes
      • Contribute to revenue development
      • Mitigate risk and simplify accounting processes
      Disbursements Management
      Corporate Fleet
      Purchasing
      Travel
      Payroll, Per diem and Incentive
      3
      3
    • Today’s Payment Landscape
      “Manual, paper-based accounts payable departments are eroding the bottom line of large and mid-market enterprises by an order of millions of dollars each year….and the stage is set for a major financial makeover.”
      4
    • Top Factors Driving Electronic Payments
    • An Electronic Payment Application
      for Every Situation
    • Reduce Costs
      Eliminates cost of check processing, averaging $5.14*
      Mitigate check fraud and cost of positive pay
      Generate monthly revenue on vendor payments
      Ex: $3.0M monthly volume @ 1.50% = $45,000
      Paid monthly on actual volume
      Easily implemented
      Integrates as another payment type in your AP application
      Vendor enrollment support with worldwide acceptance
      Eliminate 1099 Reporting
      IRC Section 6050W – Effective January 1, 2011
      Card-based vendor payments – Merchant acquirers responsible for reporting
    • ElectronicPayment Delivery
      • It is linked to a single vendor payment with a remittance advice
      • A Virtual Card is a unique 16 digit MasterCard account number
      • The MasterCard number is issued for a specific dollar amount
      • Accepted by millions of suppliers worldwide
    • Reconciliation Process
      Invoice file from Comdata containing all merchant processed transactions
      Your payables disbursement file contains consolidated supplier invoices, amounts and associated MasterCard account number(s). A GL clearing account is assigned to all transactions
      Unprocessed merchant transactions
      Virtual MasterCard Process for AP
      The Vendor is paid with the Virtual Card
      The merchant authorizes MasterCard transaction based upon pre-defined parameters – date, time, amount.
      Comdata distributes and returns a Virtual MasterCard account number for each vendor payment processed.
      Example: #1234 4321 3567 8235
      Expiration 04/2005
      CV2 345
      Vendor
      Company submits a Payables Disbursement File from ERP to Comdata
      Customer
    • Traditional AP Check vs. Virtual Payment Timeline
      • With Comdata MasterCard Virtual Payment, our Customers:
      • Enjoy the same float as a traditional AP check(est. 5 to 7 days)
      • Earn a cash monthly rebate
      • May initiate payment on the invoice due date
      • Eliminate the manual prework and reconciliation associated with checks
    • Vendor Acceptance
      • Over 8 million vendors in the U.S. accept MasterCard
      • Here are some examples of vendors our customers are paying today:
      OFFICE SUPPLIES
      • Office Depot
      • Office Max
      • Staples
      • Boise Cascade
      SHIPPING
      • FedEx
      • UPS
      • USPS
      • Pitney Bowes
      TELECOMMUNICATIONS
      • Verizon
      • Sprint
      • AT&T
      • Qwest
      UNIFORMS
      • Aramark
      • Cintas
      • Unifirst
      • Penn Emblem
      PAPER / PRINTING
      • International Paper
      • Unisource
      • Xerox
      • Kinko’s
      LABOR / STAFFING
      • Adecco
      • Spherion
      • Kelly Services
      • Randstad
      ADVERTISING
      • Yellow Pages
      • Lamar Outdoor Advertising
      • Google
      • Clear Channel
      SOFTWARE / SYSTEMS
      • Microsoft
      • Oracle
      • Intuit
      • Apple
      VARIOUS RETAIL
      • Walmart
      • Target
      • Home Depot / Lowes
      • Costco
    • Credit Card Acceptance The Merchant Value Equation
      Supplier
      card acceptance
      (2.45% on average)
      Customer
      Rebate (1.50%)
      Comdata
      (0.95%)
      Value of Acceptance
      Increased sales from larger base of potential customers
      Electronic payments eliminate check fraud and mailing delays
      Lower collection cost and bad debt elimination
      Customer loyalty and risk mitigation
      12
    • Executive Sponsorship
      Internal Processes
      Training
      New Vendors
      Purchasing
      RFP
      Contracts
      Contests
      Check Runs
      Joint Strategic Calls
      New Pay Method
      Terms
      Discounts
      Contracts
      Proprietary
      Mass Vendor Contact
      Mailings
      Check Stuffers
      Emails
      Website
      Faxes
      Calling Campaign
      Enrollment Results
      Set goals
      Reporting
      Rebate
      Process Improvement
      Incentives
      Strategic Sourcing
      Four Pillars of Vendor Enrollment
    • Case Study: Health First
      • Not-for-profit hospitals in Florida
      • Four facilities (900 beds)
      • Shared-Services Group
      • PeopleSoft ERP
      * Example only - based upon billing and payment terms
    • Health First
      Case Study
      68% Transactions less than $5,000.00
      86% Spend is greater than $5,000.00
    • Case Study: Kinder Morgan
      • Largest energy storage and pipeline transportation company
      • NYSE: KMP and KMR
      • 8,000 employees
    • Case Study
      *Example only – based upon billing and payment terms
    • Keys to Success
      Vendor enrollment defined and continuously executed
      Employees promote program as preferred payment method
      Reduced check processing from 3 days to 1 day per week
      Program settlements process daily with simple file transfer
      81% Trx < $5K
      62% Spend > $10K
    • Summary
      Delivering Value in Corporate Payments