U.S. Bank, Sage Envision the Future of Payments and Accounting with Integrated Solution
July 25 2016 - 9:04AM
Business Wire
Bank’s commercial card customers offered access
to Sage Live tools and exclusive services
U.S. Bank and accounting software leader Sage today are
announcing a new partnership for the benefit of their mutual North
American customers. The introduction of AP Optimizer™, built by the
bank on the Sage Live accounting platform, marries practical, cost
saving information – like the best time to pay bills and the best
method for payment – with easy-to-execute action to help U.S.
Bank’s business customers maximize cash flow. Users can act on the
tool’s recommendations from any computer or mobile device.
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Bradley Matthews, U.S. Bank (Photo:
Business Wire).
The announcement was made at the Sage Summit annual conference
today. It marks the first truly digital accounting and payment
solution that enables small and medium businesses to manage their
cash flow in near real-time through dynamic integration with
customers.
“The AP Optimizer is just the first step into a new future of
capabilities built on integration between payments and accounting,”
said Bradley Matthews, head of Middle Market Product &
Marketing for U.S. Bank Corporate Payment Systems. “By showing the
projected cash flow from both payables and receivables, the user
quickly sees how to maximize their working capital and avoid
‘crunch times’ of late payments and loss of ‘float.’”
U.S. Bank customers have exclusive access to the AP Optimizer’s
Consolidated Payables tool, which streamlines multiple payment
methods such as check, virtual card, ACH and wire into one simple
and efficient process. The AP Optimizer’s Cash Flow Analyzer
evaluates payments and cash flow data and identifies best times to
pay.
“No matter how many different forms of payment your various
suppliers require, AP Optimizer makes payments simple,” said Mary
Burchette, senior vice president for product management at U.S.
Bank Treasury Management. “I've never seen a user experience that
combines multiple payment types in such a user-friendly way while
also providing accounting analysis that can be used to continually
make the process more efficient and immediate."
While the payables component is only for U.S. Bank customers,
any Sage Live customer can gain insights from the Optimizer’s
comparative data, which shows how their organization stacks up
against its peers and best-in class performers. It includes a
calculation of the savings or additional revenue that could be
realized by making specific changes.
"More timely cash flow information is crucial to growing
businesses as they look to improve customer service and
operations,” said Alan Laing, executive vice president of
Partnerships and Alliances at Sage. “The data insight that Sage
Live gives coupled with the capabilities of U.S. Bank will bring
joint clients a new level of timely control over their cash
flow."
Sage Summit attendees are invited to visit U.S. Bank Booth #324
at Chicago’s McCormick Place during exhibit hours to ask questions
or view a demo of the AP Optimizer.
©2016 U.S. Bank National Association
About U.S. Bank
(www.usbank.com)Minneapolis-based U.S. Bancorp (“USB”),
with $429 billion in assets as of March 31, 2016, is
the parent company of U.S. Bank National Association, the
fifth largest commercial bank in the United States. The
Company operates 3,129 banking offices in 25 states and 4,954 ATMs
and provides a comprehensive line of banking, investment, mortgage,
trust and payment services products to consumers, businesses and
institutions. Visit U.S. Bancorp on the web
at www.usbank.com.
About Sage (www.sage.com)Sage is the market leader for
integrated accounting, payroll, and payment systems, supporting the
ambition of the world’s entrepreneurs. Sage began as a small
business in the U.K. 30 years ago, and over 13,000 colleagues now
support millions of entrepreneurs across 23 countries as they power
the global economy. We reinvent and simplify business accounting
through brilliant technology, working with a thriving community of
entrepreneurs, business owners, tradespeople, accountants, partners
and developers. And as a FTSE 100 business, we are active in
supporting our local communities and invest in making a real
difference through the philanthropy of the Sage Foundation.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160725005697/en/
U.S. Bank Corporate CommunicationsBill Brady,
612-303-0731bill.brady@usbank.comorSage Public RelationsJulia
Commons, +44-797-684-1722Julia.Commons@sage.com
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