PaymentWorks
PaymentWorks provides a comprehensive vendor management platform that includes features like automated onboarding, compliance checks, and payment optimization.
Services
PaymentWorks provides a robust set of services designed for managing vendor relationships and payments. Their platform offers a digital supplier onboarding process, automated compliance checks, and risk management features. The platform also includes auditing controls, dynamic payment methods, and an EarlyPay Dashboard for monitoring invoice approvals and overall metrics. Their redesigned interface and self-service customization options cater to both single users and large organizations.
Products
PaymentWorks offers a comprehensive vendor management platform. Key products include the Onboarding Tracker®, which eliminates inquiries about onboarding status, and automated data checks that trigger workflow reviews for any discrepancies. They also provide a short form and self-service payment information and registration forms to facilitate easier vendor onboarding. The platform features an analytics dashboard to monitor and adjust payment strategies, tagging functionality for efficiency, and a fraud indemnification service to protect against financial losses.
Partnerships
PaymentWorks fosters a range of partnerships within their ecosystem. They offer a partner program for system integrators, technical partners, referral and reseller partners, and strategic partners. These partnerships aim to enhance their vendor management services and provide additional value to their customers. By collaborating with various partners, PaymentWorks extends its capabilities and market reach, facilitating smoother vendor integrations and improved compliance across different industries.
Compliance and Security
PaymentWorks places significant emphasis on compliance and security through their digital platform. They provide automated third-party checks to ensure data accuracy and maintain a single source of record for vendor compliance-related documentation. Key security features include risk transfer for fraudulent ACH payments and a warranty against financial loss due to fraud. Their platform supports auditable business controls and a collection point for compliance documentation, ensuring thorough oversight and regulatory adherence.
Educational Resources
PaymentWorks offers an array of educational resources to help users understand and optimize their vendor management processes. Their library includes videos featuring product demos, customer interviews, and expert sessions. They also host podcasts focused on vendor management tips, featuring insights from guests, partners, and customers. These resources provide valuable knowledge for improving compliance, reducing workload, and adding value through practical case studies.