Problem

Most suppliers would like more customers to pay electronically, but they don't have the know-how, technology, or staff resources to efficiently and securely communicate their electronic payment details and remittance format and delivery preferences to large numbers of customers. So they wait for customers to approach them with an offer to begin paying electronically and they decide if they're willing to accept electronic payments from each customer based on the type of electronic payment the customer is offering, the type of remittance information the customer is offering, and the method the customer is using to enroll the supplier for electronic payments.

Our suppliers find that this "wait and react" approach results in refusal to accept electronic payments from customers whenever the customers proposed payment type, remittance type, or enrollment method doesn't reflect the supplier's preferences for receiving electronic payments.

Solution

With Vendorin, you create and manage an online profile which you can securely share with your customers to help you increase the number of electronic payments you're receiving.

When you share your profile with your customers, each customer has secure access to your profile. They are able to see the type of electronic payment you're willing to accept from them and the associated electronic payment details, exactly what type of remittance information your company requires, and the method that should be used to deliver remittance information to your company.

When you're approached by a company that would like to begin paying you electronically, you simply share your profile with that company; thereby, providing them with direct and secure access to all the information they need to pay you electronically. Even better, when you modify information in your profile, all of the companies with whom you've shared your profile are automatically updated so payments and associated remittance information continue to flow seamlessly and without interruption.