Invoice2Payment (i2PAY) from Scanco: Your Path to Faster Payments

May 9th 2024 07:32:18 AM

At Scanco, helping our customers streamline their business is our priority. If we can save our customers hours of time, aggravation and money otherwise spent chasing down inventory, work orders, logistics, invoices, payments and more in their Manufacturing and Distribution warehouses, they can then spend those resources in other places to further their business.

We stay in lockstep with our partners to make sure our solutions perform at (or beyond) their expectations. We analyze what’s working well for them, and what we can improve upon — and out of that dialogue we identify areas to help their efficiency, buoy their productivity, and reduce their headaches.

One such conversation led to Scanco’s newest solution offering: Invoice2Payment (i2PAY), a fully automated Accounts Receivable process offering streamlined and seamless invoice delivery, automatic payment reconciliation, and the elimination of manual cash receipts and deposit entries. We’re excited to bring i2PAY to market and see how this innovative technology will help yet another facet of our partners’ Manufacturing, Distribution, Warehousing and Payment Processing operations.

Designed with Efficiency and Accuracy in Mind

We started our journey more than 30 years ago to deliver unequaled efficiency, visibility and productivity for Manufacturing, Distribution and Supply Chain companies around the world. Now, i2PAY gives us a new avenue to do just that — in the space of Payment Processing. We designed i2PAY explicitly to enhance our customers’ ERP (Enterprise Resource Planning) systems by:

• Emailing invoices directly to customers

• Reducing payment process times

• Preventing errors

• Automating payment collection

The i2PAY solution represents a significant advancement in how Warehouses and Supply Chain companies can automate manual tasks — freeing man-hours for other duties critical to running operations. Helping our customers achieve greater financial accuracy more quickly and more easily is our utmost goal with i2PAY.

Using Automation to Increase Productivity

i2PAY’s automated invoice process means emailed invoices, cash receipts and deposit entries, which:

• Reduces operational costs

• Speeds time-to-cash conversion

• Enables companies to re-focus labor that was spent on manually creating and sending invoices, receipts and deposits

Furthermore, i2PAY’s automated payment reconciliation eliminates manual monthly entry/reconciliation of deposits and statements. Additional benefits of i2PAY: it supports several major payment processors, and seamlessly integrates with Sage ERP software.

A Commitment to Environmental Protection

As an automation solutions company, we know the importance of the automation solutions work we do not only in terms of helping companies become more efficient and productive, but also in advancing environmental responsibility in the Warehouse sector (we dove into this very topic in a recent blog). It’s a responsibility we don’t carry lightly.

A key i2PAY ecological advantage: a reduction of hazards to the environment. The solution’s automation is 100% cloud-based, and a completely paperless system. And the increased accuracy that you’ll realize? That means fewer errors with invoices, work orders and outgoing shipments — saving energy consumption used to correct such mistakes.

Robust Analytics for Complete Visibility

The advanced dashboard analytics built into i2PAY yield real-time data at your fingertips for up-to-the-minute viewing. Robust reporting and insights give the administrator panoramic visibility into the company’s operations and helps gauge, measure and track your efforts — no matter how many footprints, workflows and processes are in the mix.

Deployment & Use is Easy

We’ve thought of everything from your perspective to ensure that every angle of i2PAY is turnkey, and easy to install and use. There are no monthly minimums or additional subscription fees, no software license fee, and you’re not on the hook for any credit card fees. Activation is simple, and takes just a few simple steps:

• Set up an account

• Install the i2PAY service

• Configure Sage and your IT environment

We’ve built Scanco to be, more than anything, an automation company at its heart. For years, we’ve created automation efficiencies in the warehouse and on the production floor. Now, with i2PAY, we’ve accomplished a significant milestone in automating financial and payment processing workflows for our valued customers — an important first step towards automating an entire enterprise with one solution.

Contact us online or call (330) 645-9959 to make an appointment with a Scanco Solutions Expert today to discuss how i2PAY can make your company more efficient and productive. We can help you find the right solution for your company.