Atlanta, GA (Vocus/PRWEB) February 02, 2011
Solvit Software, Inc. specializes in electronic purchasing card solutions. Through its innovative suite of fully customizable products, such as PAVA, Solvit Software allows clients to increase efficiency and cut costs in their p-card programs.
“Our PAVA product allows companies to pay their bills with virtual credit cards instead of paper checks,” explains Cory Tellbuescher, Sales Director of Solvit Software. “It increases efficiency, offers significant cost savings, and allows companies to make money through credit card bank rebate programs. It’s a win all around.”
PAVA imports invoices from Solvit clients, assigns virtual credit cards to the payment, and e-mails payment information to the vendors. Vendors receive their funds in 24-48 hours, and companies eliminate the expense of massive check runs and postage. Automatic reconciliation takes much of the manual labor out of the process. Companies also see a big difference in their bottom line, says Chuck Harben, Accounts Payable/Risk Management Supervisor for Mobile County (AL) Public Schools. His office began using PAVA in April 2010. “Within 45 days, our spend was more than $1 million a month. That means we’re making $10,000 to $20,000 a month in rebates from our bank, and in these bad economic times this department can say we’re holding our own and even paying for our staff with our efforts. In 45 days. That’s huge.”
A diverse roster of public and private sector organizations has seen huge growth in their card spending and resulting bank rebates because of PAVA. “Across the board, our clients increased their spending five-fold from 2008 to 2010,” says Tellbuescher. “Last year, they made $3.25 million in bank rebates – solely from their transactions using PAVA. Some clients see rebate checks in excess of $50,000 per month.”
“PAVA truly does mark a paradigm shift for today’s business,” says Tellbuescher. “It allows companies to put the power of their card programs to work for them – making money while they’re spending it.”