ORLANDO, Fla.--(BUSINESS WIRE)--Viewpost, the secure B2B network for electronic invoicing payments and real-time cash management, announced today an expanded relationship with Florida Hospital, one of the largest not-for-profit healthcare providers in the United States. With a combination of services from Viewpost and Medius, a leading provider of AP invoice automation solutions in the cloud, Florida Hospital is accelerating and optimizing bill payment to greatly reduce back-office costs while continuing its commitment to expert, compassionate and individualized patient care.
Florida Hospital is a long-time customer of Viewpost and a recent adopter of Viewpost Express® early payment discounting. The addition of MediusFlow, a next-generation cloud-based AP invoice automation solution from Medius, is expected to accelerate Florida Hospital’s discount savings by reducing invoice processing time, making it possible to capture even more available early payment discounts.
Working with Medius to further accelerate and optimize payables for an existing customer is a first-of-its-kind partnership for Viewpost and a prime example of how healthcare companies like Florida Hospital are leading the way in payables automation and operational efficiency. The combination of these services, including dynamic discounting and supplier presentment and payment, has improved trading partner relationships and reduced costs for Florida Hospital, positively impacting the organization’s commitment to its million-plus patients each year.
“The medical industry has been leading the migration to electronic patient records, so it’s a natural step for us to do the same with electronic business transactions,” said Esmond Chan, Director of Accounting at Florida Hospital. “With over 10,000 suppliers from across the country, Florida Hospital is using Viewpost to streamline payables, lower operating costs, and collaborate with our suppliers to provide more than $5 million in working capital financing.”
Taking full advantage of Viewpost Express early payment discounting, Florida Hospital has made more than 2,600 dynamic discounting transactions with 147 suppliers, saving tens of thousands of dollars.
Florida Hospital is streamlining transactions across the country by sending electronic payments through the Viewpost network to suppliers that include 3M, Allstate, FedEx, Georgetown University, H.J. Heinz, Harvard University, Google, Mayo Clinic, Medtronic, Microsoft, St. Jude Medical, Target and The Walt Disney Company.
“The partnership between Medius and Viewpost will expand our offering and further enhance our ability to modernize the way accounts payable functions. We’re excited to help Florida Hospital achieve their invoice automation goals,” said Andreas Granath, Senior Vice President at Medius. “By focusing on capture, validation, process management and reporting, our clients can easily map out their gaps, identify areas for improvement and build a streamlined roadmap toward AP invoice processing best practice. Viewpost’s comprehensive and inventive solution for data visibility in the B2B marketplace is a perfect complement to our own cloud-based invoice automation and benchmarking capabilities.”
“Viewpost is designed to remove the costly transactional friction experienced by any company, from the largest enterprises to the smallest service providers,” said Max Eliscu, CEO of Viewpost. “Florida Hospital, with its diverse population of suppliers and quick adoption of Viewpost Express dynamic discounting and payment automation, is validation of the win-win created by an ability to securely connect, transact and track payments electronically while collaborating to optimize cash distribution and access to on-demand working capital.”
About Florida Hospital
Opened in 1908, Florida Hospital is a faith-based institution focused on providing whole person care. It is one of the largest not-for-profit hospitals in the country, with more than two million patient visits per year – more than any other hospital in the country, according to the American Hospital Association. Florida Hospital has 26 hospitals, more than 4,600 patient beds, and over 32,000 employees statewide.
Florida Hospital provides a wide range of health services, including many nationally and internationally recognized programs in cardiology, cancer, women’s medicine, neurosciences, diabetes, orthopedics, pediatrics and transplant and advanced surgical programs. Florida Hospital is a designated statutory teaching hospital and also trains physicians from all around the world on the newest technologies.
Medius is a leading provider of AP invoice automation solutions in the cloud. The MediusFlow solution automates and simplifies the entire P2P process. The company has 1,900 customers worldwide processing 50 million invoices annually, with high density in retail, manufacturing and services. Founded in 2001, Medius now has 200 employees working out of offices in Sweden (HQ), Norway, Denmark, Poland, the Netherlands, the United States, Malaysia and Australia. More information is available at www.mediusflow.com.
Viewpost North America is revolutionizing the way businesses transact with each other. Viewpost built the most trusted open business network to empower businesses of all sizes with real-time cash management for anytime operating decisions. On the secure Viewpost network, companies connect and exchange electronic invoices and payments with unprecedented ease and visibility, accessing working capital on demand. Enterprise clients are using Viewpost to cut costs, increase efficiency and improve cash management, including Accenture, Florida Hospital, Georgetown University, the Orlando Magic and Whole Foods Market. With enterprise-grade security, including ISO 27001 and SSAE16 audited certifications and the TRUSTe Privacy Seal and Skyhigh CloudTrust Enterprise-Ready Rating, Viewpost is partnering with financial institutions to bring cash management tools to business customers at U.S. Bank, Bank of America and Fifth Third Bank. Viewpost innovation has been awarded Best in Show by Barlow Research, Best CISO/CSO by FireEye Cyber Defense Summit, CSO50 Award (four-time honoree) by IDG’s CSO, and Best B2B Payments Platform by Tradestreaming. Since Viewpost was opened to the public in early 2015, the total invoices presented and payments processed have reached $71.4 billion across the network. Founded in 2011, Viewpost is headquartered in the Orlando area, with additional teams in Boston, Minneapolis and San Francisco.