WesBanco streamlines accounts payable process with new products for clients
With a focus on helping grow its clients’ businesses and be better prepared for tomorrow, WesBanco offers a wide range of business products and services to help companies navigate everyday challenges. In addition to its already robust portfolio of offerings, WesBanco is rolling out two new treasury management products: integrated payables and multi-cards.
Integrated payables is a transformative accounts payable service that helps streamline the disbursement process by automating and incorporating all payment types, including checks, wire transfers, ACH and virtual card, into a single payment process. A virtual card is a nonrevolving single use credit card for a predefined amount, with an ability to earn rebates based on total spend. Web-based and appropriate for both busines-sto-business and business-to-consumer, integrated payables help reduce disbursement costs and check fraud exposure, simplifies the reconciliation process, streamlines staffing and improves overall cash flow.
When incorporating integrated payables, WesBanco works directly with the client to facilitate a vendor match process, even going as far as contacting vendors directly to help them convert check payments to virtual card payments, creating an efficiency for the client while helping vendors get paid faster.
In addition to integrated payables, WesBanco is also introducing a multi-card. A great option for large commercial clients to smaller business clients who write 100 or more checks per month. Multi-cards combine a purchasing card, fleet card, travel and entertainment card and virtual card all under one umbrella, helping customers reduce the number of checks and streamline payments.
While multi-card customers will require the clients to contact their vendors directly, it requires little technical knowledge, has a userfriendly online system and also has an option for rebates based on annual card spend.
To learn more about how WesBanco can streamline your accounts payable process, visit wesbanco.com or contact Zack LeQuire at (629) 247-4332 or zack.lequire@wesbanco.com.