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Automate Manual Interventions on Virtual Card Payments for Faster, Seamless Transactions

Description

Imagine a world where B2B transactions, once fulfilled, a payment currently received in a cumbersome email process, is fully electronic and seamlessly processed without manual intervention. This can be a reality through a function known as straight-through processing. Straight-through processing creates a fully automated accounting process that results in immediate availability of funded payments and enhanced efficiency. It also has the advantage of providing advanced data reporting for efficient accounting and reconciliation of accounts receivables. While the benefits of straight-through processing are pretty obvious, how do you get started and what type of technology is required? Attend this session to understand how straight-through processing works and how implementing this solution can result in faster availability of funds, reduced costs and effort, and fewer errors and enhanced remittance efforts.

Learning Objectives: 

  1. Understand the value of straight-through processing for B2B payments
  2.  Learn the steps it takes to initiate straight-through processing
  3.  Determine which buyer relationships are most ideal for this type of processing
*Please note, this webinar is for MAG current merchant members.

Contributors

  • Bob Walker | Consultant, Special Projects - Elavon

    Mr. Walker has had a long career in the payments industry, which started at the Federal Reserve Bank. At that time, electronic check truncation was just an idea circulating in position papers. Bob began with Elavon in 2010 where he held various positions, which included oversight of global interchange and billing and the expansion of those functions into the global airlines segment, as well as across the EU and Latin/South America.

    As an advocate for merchants, he appreciates opportunities to listen to customers and understand the issues and challenges they face. Acceptance of Virtual Cards, and solving for the associated labor and reporting difficulties, is a worthy challenge, and one that he felt passionate about resolving.

    Bob, who is a United States Air Force veteran, is married to his wife of 44 years, and together they have two children and five grandchildren.

    Additionally, he serves as the Treasurer of Peachtree Corners Photography Club, Inc. where he recently achieved recognition for them to become a 501(C)(3) nonprofit corporation in Georgia.

June 8, 2022
Wed 12:00 PM CDT

Duration 1H 0M

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