Background

Our clients and partners deserve the best service and support.

Working together to achieve results.

At WEX, we are empowering our customers with a disciplined approach to achieving the ‘perfect payment’ – one that is electronic, accurate and paid on time with an optimized discount – delivering real value and bottom line savings. Payment Optimization is our ultimate goal as we work with each of our valued clients to achieve results.

Payment Optimization encompasses the four cornerstones of value helping companies drive greater overall cost savings, enhance efficiencies, mitigate risk and contribute to incremental margin improvement.

Best Practices.

We will equip you with Best Practices designed to ensure sustained financial results. Best Practices include:

  • Executive sponsorship and organizational accountability for maximum results
  • Implement a program branding strategy for optimum results
  • Leverage electronic payments to drive value
  • Standardize payment terms, optimize discount payment modalities and balance supplier value
  • Set S.M.A.R.T. goals
  • Escalate all requests for change of payment type and/or terms to management for approval
  • Every supplier engagement is an opportunity to improve relationship results
  • All supplier bank account data should be securely protected and changes validated before enacting settlement
  • Use regular reporting to communicate the program’s contribution to senior leadership

Implementation Support and Project Management.

Our proven five-step business process incorporates strategy, structure, operations, enablement and measurement. From the moment of engagement, our experienced service team is collaborating with you to develop a well-defined electronic payments program through strategic design, consulting, integrated service offerings and relationship management.

We help you design and develop processes, marketing and messaging materials necessary to drive the enablement and ongoing support of suppliers. We also offer project management, infrastructure and quality assurance processes critical to the success of an optimized program. Our dedicated individuals are knowledgeable, responsive and communicate proactively to ensure repeatable and reliable service with a focus on continuous improvement.

Background

Payment Optimization is a formula to reduce administrative cost, streamline business processes and contribute to margin improvement.

If you have a strategy and a plan to move to electronic payments, and manage your discretionary business expenses, you will achieve savings with optimized payment strategies and drive the change you want to see in the business.

Powerful insights.

We help you unlock the value behind payments through our powerful data analytics tools.