The automotive industry is being transformed by payment innovation as the pandemic is forcing businesses to turn to paperless.
Nvoicepay, launched in 2009, is one financial technology company specializing in intelligent payment automation that can provide a viable solution for aftermarket suppliers and shop owners who are looking to automate B2B payments for accounts payable teams, thus reducing the amount of time and paper it takes to successfully submit payments.
“Dealerships today are working diligently to reduce overhead as they move to a digital platform,” said Pam Cichoke, VP of automotive sales, Nvoicepay. “Payment solutions specialize in enabling businesses to accomplish this mission. AP teams can achieve more in a shorter period while driving a new revenue stream—unusual for a department that is not traditionally known for adding to the bottom line.”
Pam Cichoke, VP of automotive sales, Nvoicepay.
How does Nvoicepay work?
Nvoicepay is a full payment solution, and the company enables each of its customer’s suppliers to accept electronically-submitted payments, either by check, ACH, or card, and pairs its automation software with a support team that assists suppliers with missing or delayed payments, payment questions, and account information updates.
“Nvoicepay does the heavy lifting and takes on the responsibility for payments that go through our system,” explained Cichoke. “We also back our solution with a top-notch customer and supplier support system.”