The Challenge:
The payment process for an Accounts Payable department can be a difficult,
time-consuming and can often require a lot of manual processes. Couple that, with a global company that has a need to pay invoices in local country currency and the challenge becomes even greater.
The Solution:
ICOMM’s One-Pay solution allows companies to outsource invoice receipt and data entry, cost center and GL coding, detailed reporting and individual invoice payment functions, allowing AP staff to focus on more valuable and strategic functions.
How it Works:
ICOMM takes over the invoice receipt and entry portion of the payment process and provides an online portal for payment approvals. The online portal includes invoice details and summary, account history and trending information, cost
center and GL allocation information (location, division, department and service type details). The portal also includes account notes and vendor information, along with a multi-tiered invoice approval process workflow.
How Our Clients Benefit:
The ICOMM One-Pay solution is purposefully designed to manage a wide range of invoice types including utilities, telecommunications, software and hardware, invoices for office supplies to name a few.
One-Pay is more flexible than other Payment Service solutions. Our solution has the capability to pay vendors via ACH, e-check, payment card, wire, and paper check. The method used will depend on our client’s payment strategy and the capabilities of the vendor. This enables our clients to issue just one payment to ICOMM, and we will take care of paying all vendors, GL Coding, and sending the AP report back to our clients for proper accounting and tracking.
In many cases, merchant credits are available through our relationships and can be applied to offset fees for this service and may even produce a revenue!
Get One-Pay now and enjoy the peace of mind knowing that your invoices will be paid on-time anywhere in the world!
Frequently Asked Questions:
While it is true that most of our clients that utilize One-Pay choose to pay most of their invoices with this service, it is not necessary.
You can process as many or as few invoices or invoice types as you choose.