MINNEAPOLIS--(BUSINESS WIRE)--A major obstacle keeping organizations from choosing virtual card payments over checks has been the effort and expense of integrating their Enterprise Resource Planning (ERP) software with their bank’s payment systems1. U.S. Bank has a new solution that solves for this business challenge: U.S. Bank APConnector™, a universal adapter that quickly, easily and securely connects most accounting systems to U.S. Bank.
By acting as a translator between the bank’s payment systems and an organization’s ERP software, APConnector makes the path to payment automation seamless and cost effective. It allows organizations to send payments electronically using secure virtual card accounts that provide enhanced remittance data as well as improved reconciliation. Paying corporate invoices electronically no longer requires a major commitment of information technology (IT) resources. Set-up time for launching a virtual card solution shrinks to as little as a few weeks, versus up to three months in a conventional set up.
“APConnector removes a primary barrier to virtual card adoption: Accounts Payable system integration,” said U.S. Bank Virtual Payments General Manager Bob Kaufman. “With APConnector, organizations can realize the increased efficiency and cost savings offered by U.S. Bank Virtual Pay without modifying their ERP systems or undergoing a major IT project. Even if a client changes ERP systems, they can continue to use APConnector. It’s the fastest way to get on board and stay on board with virtual payments.”
APConnector was developed in partnership with Atlanta-based Regal Software, a leading disbursement automation software provider for accounts payable systems. “The last mile in automating the procure-to-pay process is connecting customers’ accounting systems to their financial institution’s treasury system,” said Regal Software CEO Kofi Conduah. “U.S. Bank turns that final mile into a sprint with its APConnector tool. It makes the whole process very simple and adds a higher level of security at the same time.”
For more information on APConnector, visit usbpayment.com.
About U.S. Bank (www.usbank.com)
Minneapolis-based U.S. Bancorp (NYSE: USB), with $438 billion in assets as of June 30, 2016, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,122 banking offices in 25 states and 4,923 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
About Regal Software (www.regal-software.com)
Regal Software is an independent software provider headquartered in Atlanta. The company is a leading manufacturer of software that integrates ERP systems with treasury management solutions offered by major banks. RegalPay®, the company’s universal application, has been integrated with more than 50 major accounting systems and manages over $3 billion in enterprise B2B payments annually.
1 Cited by 66 percent of respondents in Association for Financial Professionals 2013 Electronic Payments Survey.
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