Wright Express Corp. recently announced that Accounts Payables Direct is available to help companies streamline accounts payable operations and manage vendor relationships. Wright Express says the E-Payables application automates vendor payments and simplifies reconciliation without changing current accounts payable processes or software. The MasterCard program is operated through Wright Express Financial Services Corp., a wholly owned subsidiary of Wright Express Corp., based in South Portland, Maine.
Wright Express says it added Accounts Payable Direct to its MasterCard product suite to help accounts payable departments fast-track payments to vendors, reduce the number of paper checks, limit fraud and maintain complete control over the payment process. Accounts Payable Direct also has benefits for payees in the form of quick and secure payment, as companies use Accounts Payable Direct to provide payment information detail, according to the company.
For the payer, Accounts Payable Direct brings more payments into the MasterCard mix – maximizing the benefits of the Corporate MasterCard relationship while managing payments to take advantage of the billing cycle to manage cash flow, Wright Express says; Accounts Payable Direct also links directly to current accounts payable systems, streamlining the payment and reconciliation process by replacing paper checks.