With U.S. Bank APConnector™, More Businesses Can Say "Yes!" to Virtual Pay
October 26 2016 - 7:00AM
Business Wire
New tool connects customer ERP systems to the
bank’s payment automation solutions with minimal IT involvement
A major obstacle keeping organizations from choosing virtual
card payments over checks has been the effort and expense of
integrating their Enterprise Resource Planning (ERP) software with
their bank’s payment systems1. U.S. Bank has a new solution that
solves for this business challenge: U.S. Bank APConnector™, a
universal adapter that quickly, easily and securely connects most
accounting systems to U.S. Bank.
By acting as a translator between the bank’s payment systems and
an organization’s ERP software, APConnector makes the path to
payment automation seamless and cost effective. It allows
organizations to send payments electronically using secure virtual
card accounts that provide enhanced remittance data as well as
improved reconciliation. Paying corporate invoices electronically
no longer requires a major commitment of information technology
(IT) resources. Set-up time for launching a virtual card solution
shrinks to as little as a few weeks, versus up to three months in a
conventional set up.
“APConnector removes a primary barrier to virtual card adoption:
Accounts Payable system integration,” said U.S. Bank Virtual
Payments General Manager Bob Kaufman. “With APConnector,
organizations can realize the increased efficiency and cost savings
offered by U.S. Bank Virtual Pay without modifying their ERP
systems or undergoing a major IT project. Even if a client changes
ERP systems, they can continue to use APConnector. It’s the fastest
way to get on board and stay on board with virtual payments.”
APConnector was developed in partnership with Atlanta-based
Regal Software, a leading disbursement automation software provider
for accounts payable systems. “The last mile in automating the
procure-to-pay process is connecting customers’ accounting systems
to their financial institution’s treasury system,” said Regal
Software CEO Kofi Conduah. “U.S. Bank turns that final mile into a
sprint with its APConnector tool. It makes the whole process very
simple and adds a higher level of security at the same time.”
For more information on APConnector, visit usbpayment.com.
About U.S. Bank (www.usbank.com)Minneapolis-based U.S.
Bancorp (NYSE: USB), with $438 billion in assets as of June 30,
2016, is the parent company of U.S. Bank National Association, the
fifth largest commercial bank in the United States. The Company
operates 3,122 banking offices in 25 states and 4,923 ATMs and
provides a comprehensive line of banking, investment, mortgage,
trust and payment services products to consumers, businesses and
institutions.
About Regal Software (www.regal-software.com)Regal
Software is an independent software provider headquartered in
Atlanta. The company is a leading manufacturer of software that
integrates ERP systems with treasury management solutions offered
by major banks. RegalPay®, the company’s universal application, has
been integrated with more than 50 major accounting systems and
manages over $3 billion in enterprise B2B payments annually.
1 Cited by 66 percent of respondents in Association for
Financial Professionals 2013 Electronic Payments Survey.
©2016 U.S. Bank National Association
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version on businesswire.com: http://www.businesswire.com/news/home/20161026005267/en/
U.S. Bank Corporate CommunicationsBill Brady,
612-303-0731bill.brady@usbank.comorRegal SoftwareJason Pace,
678-561-7223SVP Business Developmentjason.pace@regal-us.com
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