Global Exchange Group Introduces Automated Payables Solution

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Electronic enablement platforms’ flexible remittance options eliminate paper checks & maximizes resources.

Global Exchange Group, a leading provider of foreign exchange and international payment solutions, in conjunction with Cambridge Mercantile Group, has announced the launch of an Automated Payables Solution (APS). This solution enables organizations to implement an electronic payment strategy, using the combination of a highly secure virtual card and ACH payments, to deliver an outstanding reduction in manual check payment processing.

Leveraging an organization’s existing accounts payable system, the APS solution simplifies the payment process by enabling the user to transmit a payment file. The system then automatically links vendors within the APS network. Payment is based upon whether the vendor has chosen, via a Global Exchange provided simple Vendor Enablement Program, virtual card payments – these are highly secure, single-use system generated numbers, with dollar limits equal to the approved payment – or ACH payments. The entire process is securely tailored to how a vendor wants payments delivered and received.

“The Automated Payables Solution furthers Global Exchange’s goal to simplify accounts payable via a straightforward six step process,” said president of sales and marketing, Anthony Loiacono. “Global Exchange does all of the heavy lifting by simply on-boarding the vendors, and vendors are satisfied as the payments come in the format they request. It is my hope that organizations realize the great universal benefit, all the way around, of utilizing Global Exchange’s newest offering.”

In addition to the benefits stated above, the APS solution profits companies in the following ways:

  • 75% of checks are eliminated within 90 days of execution.
  • Check and postage costs dramatically reduced.
  • Check fraud eliminated.
  • Enables companies to use existing bank relationships.
  • Complete payment history is available to suppliers online.

For more information about Global Exchange’s Automated Payables Solution, contact the company at: info(at)gexchange(dot)com or 1.800.682.2187.

About Global Exchange Group Global Exchange Group is a division of Cambridge Mercantile Corp (USA). Founded in 1994, Global Exchange is a leader in international payment solutions. Global Exchange understands that today’s global payment process is increasingly cumbersome, costly and time consuming. As a result, Global Exchange’s interchangeable solutions improve the time and cost to transfer funds internationally. Global Exchange possesses the ability to offer any size organization an invaluable alternative to their traditional bank or third-party relationship. For more information about Global Exchange, visit http://www.gexchange.com.

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Leah Parillo

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