Switching to an electronic payables approach will require the support of internal stakeholders and in some cases realignment of job responsibilities. To ensure buy-in within your company, use the following methods of promoting Virtual Payments:

  • Begin your campaign with your company’s support
  • Enroll your suppliers into the program
  • Create a compelling program name and creative logo
  • Be prepared to explain the program, answer questions, discuss the goals of the program, and show the intranet site that holds the sample letters of vendors and new vendor set-up forms. Comdata is happy to help you if needed.
  • Set time-sensitive and specific goals
  • Realign certain job responsibilities:
    • Designate an executive sponsor
    • Appoint a day-to-day owner, usually someone from AP to answer calls from Comdata and daily questions from vendors.
  • Be clear that electronic pay is your preferred way to pay vendors:
    • All new vendors will be targeted in the program
    • Focus on electronic payment in your vendor onboarding materials
    • Write contracts to include the virtual payment program
  • Implement an escalation process:
    • Establish escalation procedures at the beginning of the project
    • Vendors should not be allowed to un-enroll easily. It must have manager or supervisor approval.
    • Ensure the timely resolution of issues with a Service Level Agreement of less than 24 hours
    • Establish Quarterly Reviews
    • Review spend and vendor enrollment performance on a quarterly basis
    • Calibrate and make the adjustment to hit and exceed spend goals

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