DALLAS, Jan. 21, 2021 /PRNewswire-PRWeb/ -- Leading
Business Process as a Service provider, OneSource Virtual (OSV),
today announced the launch of Invoice Pay, a new payment
optimization solution that provides its Workday customers with the
ability to seamlessly pay and manage supplier payment options as an
extension of its invoice imaging, coding and approval workflow
tools. Powered by J.P. Morgan's virtual card payments solution,
Single-Use Accounts (SUA), Invoice Pay also offers comprehensive
fraud protection and card rebates to OSV's finance and accounting
services customers.
Over the last five years, OSV has delivered a growing portfolio
of finance and accounting services to its Workday
customers—including providing payroll services to approximately
three million of their employees. With Invoice Pay, OSV offers
additional value to its Workday customers through payment
capabilities such as ACH, virtual card, wire and check, in addition
to fraud protection, card rebates, invoice reconciliation and a
payment optimization engine that factors in suppliers' payment
preferences.
"Our new invoice payment solution powered by J.P. Morgan will
use virtual cards to settle invoices, in addition to more
traditional payment methods," says John
Bax, CFO at OSV. "This comes with three advantages to our
customers. First, it enables one-to-one invoice settlement to
simplify payment reconciliation, second, OSV will assume all
liability for payment fraud, and third, rebates offered from SUA
transactions will deliver significant savings on accounts payable
and procure-to-pay functions."
OSV's Invoice Pay offering will provide a new Accounts Payable
(AP) service for its Workday customers, streamlining the AP process
and costs, increasing payment efficiencies and eliminating paper
checks. The new service will also include supplier management.
Customers' suppliers will be contacted for onboarding and provided
with supplier portals and payment preferences, creating a more
equitable relationship and empowering suppliers to adopt electronic
payments.
"We're delighted to collaborate with OSV to enhance their
in-tenant technology which leverages their customers' Workday
application for security, supplier databases, rules and
workflows—eliminating the need for their customers to build or
maintain additional integrations," says Greg Kerwick, Head of TS Client Solutioning at
J.P. Morgan. "Our sophisticated supplier network will additionally
enable OSV customers to provide a more seamless payment
experience."
About OneSource Virtual
OneSource Virtual (OSV) is the Workday partner that has helped
more than 1,300 companies with everything from deployment to
maintenance to payroll and more—all to make the day more doable.
Founded in 2008, OSV pioneered Business Process as a Service
(BPaaS) and has become the leading provider of automated solutions
for organizations of all sizes using Workday, delivering services
with unparalleled choices, unwavering commitment, and
uncompromising care. OneSource Virtual's global headquarters is
located in Dallas, Texas, with
additional locations across North
America and Europe.
OneSource Virtual: Let's make the day more doable. Find your
company's solution at http://www.onesourcevirtual.com.
Media Contact
Jeff Miller, OneSource Virtual,
+1 469-969-9433, jmiller@onesourcevirtual.com
SOURCE OneSource Virtual