Worldwide Produce
$150M+ to $0 in check payments
Worldwide Produce went from $150M+ to $0 in annual check payments from day one.
Finexio customer since
2021
Worldwide Produce is a leading distributor of the highest quality fresh fruits, vegetables, dairy products, and specialty foods to local restaurants, chains, hotels, golf courses, entertainment venues and catering facilities across the Western United States.
Before Finexio
The Challenges
Upon assessing their accounts payable, it became clear that the use of manual, paper-based processes presented an opportunity for modernization and savings, but an effective solution was not necessarily clear.
Wasted Time
CFO spent hours signing checks each week.
Lacking Automation
AP processes heavily manual
Paper Checks
Over $150M AP spend on paper checks.
With Finexio
The Solutions
They decided to partner with Finexio, embracing new technology with the goal of streamlining their AP processes and improving supplier communication.
Digital Payments
Finexio’s supplier enablement and support team developed a tiered supplier segmentation analysis and outreach strategy to increase digital payment adoption.
Custom Onboarding
Multi-touch campaigns to suppliers promoted the importance of electronic conversion with Virtual Card as the primary choice and ACH as a secondary option in order to move as much spend off of paper checks as possible.
No More Waste
100% of supplier spend targeted, opening up greater opportunity for early payments and cash back.
67%
total AP spend moved to electronic payment methods
$131.2M
in annual AP spend processed by Finexio
27K+
invoices paid
Interested in learning about how your organization can leverage Finexio's AP Payments as a Service?
Contact Us Today
