TIS offers advanced smart-routing of payments within certain localities (i.e. USA) to optimize the use of domestic payment options, such as ACH, checks, and virtual cards.
In the U.S., it continues to be common practice for businesses to manage B2B payments through a variety of different methods and channels. Today, these methods include ACH and card options, as well as the use of checks.
However, a common challenge for businesses regarding these options is determining which method is most cost-effective and efficient across each supplier relationship or business division. The other primary challenge stems from having to manage a disparate set of payment files and workflows that often cross over multiple systems and contain siloed sets of information and data.
Thankfully, TIS is introducing a new and improved method for streamlining this activity.
As of 2022, TIS can manage an organization’s domestic ACH, card, and check activity through a single payment instruction file that can delineate who is being paid, which invoices are being paid for, what the execution dates are, and more. This file and the associated workflows are integrated with the TIS solution and can execute payments on behalf of clients through either virtual card, ACH+, or check. TIS uses payment smart-routing to determine the most efficient payment option for each scenario and supplier, and activity pushed through this workflow is rewarded with a rebate program that provides continuous cost-savings.
Learn more by downloading the full factsheet!