Get the only end-to-end accounts payable (AP) and payments solution that automates invoices and payment processing.
- Invoice capture – Important invoice information (vendor, payment terms and line level information) is automatically extracted from paper and electronic invoices and presented to AP staff for review and routing to individual departments for approval.
- Invoice approval – Workflow tools enable AP staff to route uploaded invoices to departments for approval. An unlimited number of scanned invoices and other supporting documents can be stored in the solution.
- Payment authorization – Approved invoices can then be aged and paid according to the enterprise's cash management policy. Payment authorization can also employ the use of important payment controls. Payment approvers can review and release payments through a web interface.
- Payment execution – Once payments are authorized, BB&T executes them on your behalf, streamlining the process and eliminating the hassle of sending electronic payments. BB&T also sends electronic remittance details to vendors. Businesses can issue secure payments via physical check, ACH or virtual card.
Switch from manual AP processes, and experience several benefits.
- Lower processing costs – Save 70% or more on payment processing costs
- Increase efficiency – Eliminate manual check issuance and simplify electronic payments
- Control outgoing cash flow – Ensure that payments reach vendors in the shortest time possible, and precisely time and future-date vendor payments by having clear visibility into the amount of time a payment takes to reach a vendor
- Reduce payment risk – Get access to advanced payment security features such as two-factor authentication, two-factor payment verification, payment limits and integration with Positive Pay
- Improve internal accounting controls – Implement important payment controls such as segregation of duties and dual approval
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BB&T Payables and Invoice Management
Reduce costs, minimize payment risk and improve your internal accounting processes.
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