Introducing Vic.ai Payments: Improve your ROI while taking the next step in Autonomous Accounts Payable workflows

Making vendor payments isn’t as simple as just signing a check. Ironically, using paper checks makes payments pretty complicated - cutting checks is time-consuming, requires significant manual effort, and is vulnerable to fraud. This translates to increased costs in labor, processing, and risk of delayed payments. 

Today, with the launch of Payments from Vic.ai, AP processing is about to become more profitable, faster, accurate, and secure for our customers.

We are excited to announce the native integration of Payments to the Vic.ai platform. With this release, Vic.ai now delivers one system to handle all Accounts Payable. This provides AP teams with a single workflow for the entire end-to-end AP cycle from invoice ingestion to payments. When using Payments from Vic.ai, customers can manage all payment types seamlessly: check, ACH, and virtual card. This eliminates the customer’s need to acquire and store sensitive payment information from vendors, but also relieves them from the task of manually cutting and sending checks.

Antler, championing innovation across 25 global cities, is looking forward to deepening its partnership with Vic.ai by adding Payments in addition to invoice processing. 

“Our core is in recognizing and nurturing potential. In our quest for progress and in championing resilient founders, our collaboration with Vic.ai stands out. Their dedication to efficient and precise invoice processing mirrors our own commitment to excellence.  We are excited to further streamline our operations with the introduction of Payments.” said Bjarne Abrahamsen, CFO of Antler.

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Why we built Payments into the Vic.ai platform

Traditionally, B2B payments are challenging due to complex processes, diverse payment methods, and the need for robust security measures. Key challenges include:

1. Complex and Lengthy Payment Processes: Many businesses encounter challenges with B2B payment processes, which often involve multiple stakeholders, complex approval workflows, and extensive paperwork. This complexity can lead to delays and errors, impacting cash flow and operational efficiency.
2. Inefficient and Costly Payment Methods: Traditional payment methods, such as paper checks and manual bank transfers, can be inefficient and costly for businesses. The manual handling of payments may result in errors, reconciliation difficulties, and high transaction fees, adding unnecessary financial burden to the organization.
3. Lack of Payment Visibility and Security: Businesses often face difficulties in tracking and monitoring B2B payments, leading to a lack of visibility into payment statuses and potential cash flow bottlenecks. Additionally, security concerns regarding data breaches and fraud are prevalent in B2B payments.

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How Payments from Vic.ai can help

We built Payments into our AP Autonomy solution so that our customers can optimize their entire AP workflow with the Vic.ai platform, leveraging AI for more accurate and efficient invoice processing and payments. This enables our customers to:

• Maximize their team’s time with a streamlined experience: We now provide our customers a single vendor for end-to-end invoice processing no matter how they want to pay - check, ACH, virtual card, and international.
• Make money with control over their cash flow: With Payments, Vic.ai customers can pay early and get vendor discounts or make partial payments and earn more interest. Our customers can now pay according to their preferences and further optimize their cash and treasury. 
• Protect their company from fraud: Vic.ai Payments helps mitigate the risk of check fraud by using ACH or virtual cards instead of paper checks. And the Vic.ai platform can handle all payment types while managing vendor outreach on our customers’ behalf. 

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How Payments from Vic.ai works

Payments is an AP payments solution that is fully integrated with the rest of the Vic.ai platform. Customers can now review, approve, & make payments with a single provider. This gives them:

• Complete control to manage the entire invoicing process with high accuracy and speed using a single AI-powered platform.
• The ability to monetize and digitize their payments. They can make payments by check, ACH, or virtual card from one single payment file.
• A platform that manages vendor relationships on your behalf, handling onboarding and payment optimizations based on vendor preferences and industry best practices.
• Integrate with all major ERPs: Reduce IT workload and save time.

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Streamline your AP process with Vic.ai’s Payments

We built Payments into our AP Autonomy solution so that our customers can realize ROI throughout the invoice processing journey. This takes our customers yet another step closer to autonomous finance. 

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