U.S. Bank has introduced the AP Optimizer, a digital tool that simplifies and transforms invoice processing and payments for businesses within a single system. Additionally, the tool can assist organizations in reducing costs, create rebate opportunities and help manage working capital, according to a press release.
“AP Optimizer is a big win for our customers and is part of our strategy to provide an integrated offering to manage Accounts Payables,” Jeff Jones, head of Corporate Payment and Treasury Solutions for U.S. Bank said in the release. “Our customers will have the ability to transform workflows and payments to a digital solution with improved visibility, embedded security and fraud mitigation tools.”
AP Optimizer connects businesses to the established Bottomline Paymode-X network of 425,000 suppliers. Businesses can start paying suppliers in the network immediately upon implementation. By integrating with the bank’s Enterprise Resource Planning platforms, customers can quickly eliminate manual processes through the migration to electronic payment methods like virtual cards, ACH, and wires while also having an opportunity to earn rebates.