Morgan & Morgan
177% increase in electronic payment acceptance.
Finexio's services quickly improved upon Morgan & Morgan's bank programs—yielding a 177% increase in electronic payment enrollment.
177% increase in electronic payment acceptance.
Finexio's services quickly improved upon Morgan & Morgan's bank programs—yielding a 177% increase in electronic payment enrollment.
Prior to choosing Finexio for streamlining supplier payments to reduce costs and create revenue within their AP department, Morgan & Morgan utilized a bank program to manage supplier payments, yielding middling to poor success rates in enrollment.
A middling bank program provided poor success rates in supplier enrollment.
Only the top portion of their suppliers were being targeted—leaving a large chunk of would-be value.
It was also vital that increased supplier enrollment efforts don't sacrifice how their suppliers were treated.
Morgan & Morgan chose Finexio because of it's intelligent technology's ability to identify incremental enrollment opportunities.
While the prior bank program only targeted the top 20%—Finexio took a wholistic approach, targeting 100% of eligible suppliers.
Using intelligent targeting methods, quick wins brought swift ROI.
Finexio's payments network instantly identified six-figures worth of duplicate payments—quickly eliminating the issue.
$160k
Savings and revenue generated by eliminated paper check costs.
$116k
Savings generated from reduction of duplicate payments.
58%
First-year % increase in digital payment enrollment, creating a corresponding reduction in time-spent by the back office.