Online Payments Offer Top Rate ROI Claims Xign
Data collected from corporate finance organizations in the U.S. has revealed that online payments solutions can save companies millions of dollars a year, and that operational cost savings alone justify the modest investment needed to implement a solution. Xign Corporation, which conducted the survey, found that online payments solutions result in substantial increases in the capture of early payment discounts. The results from Xign’s research of twenty companies show that the average Fortune 1000 company can expect a minimum return of $4.5 million dollars over three years from an online solution. On the operational side, lower costs result from automation of manual tasks, both within account payables (AP) and across the company. Increased efficiency in the routing and approval of invoices and the reduction in vendor call inquiries also contribute substantial dollar savings. Results showed total operational savings as high as $1 million in the first year.