Partnership, Perseverance & Payment Plus
A CASE STUDY THE CUSTOMER
Ryan Companies US, Inc.
Maximize Efficiency & Profitability
A 75-year-old, family-owned national developer, builder and real estate manager headquartered in Minneapolis.
Ryan Cos. wanted to create greater efficiencies within accounting and its overall operations for bottom-line impact. Controller Sarah Toepke turned to U.S. Bank, the company’s partner since 1985.
U.S. Bank’s ePayables Program
A Partnership That Provides Increased ROI
A VP at U.S. Bank, Dhiren Patel identified a key cost-saving solution. The U.S. Bank Access® Online Payment Plus Program allowed Ryan to pay vendors via a “virtual” credit card account, replacing check payment and lowering administrative costs.
In three years, Ryan Cos.’ net financial benefit—including cost savings combined into a credit card rebate—increased by 800%. Plus, while the number of transactions converted from check to card increased by 15,000 annually, Ryan experienced $0 in fraud losses due to the reduction in theft prone checks.
WITH PAYMENT PLUS, WE CAN PROCESS 15,000 TRANSACTIONS ANNUALLY, WHILE KEEPING THE SAME NUMBER OF EMPLOYEES IN OUR ACCOUNTING DEPARTMENT, ALL THANKS TO THE PROGRAM'S AUTOMATED PAYMENT EFFICIENCY, VISIBILITY, CONTROL AND REBATES. - SARAH TOEPKE
CONTROLLER, CONSTRUCTION ACCOUNTING | RYAN COMPANIES US, INC.
To read the full case study, visit www.usbpayment.com/ryan
WHY CHANGE THE AP PROCESS? COMPETITION
Cost containment and cash
Tight credit markets and
In accounts payable, your
management are at the top of
business uncertainty means
department is uniquely able to
many CFO’s agendas. If your
support your firm’s cash
competitors are converting to
accounts payable—needs to be
electronic payments, your
more strategic in terms of cash
implementing strategies to
company needs to consider
management and efficiencies.
create cost-saving efficiencies
the same strategy.
while increasing revenues.
WHAT’S TRENDING IN AP? What proportion of major suppliers is likely to convert from checks to electronic payments in the next three years?*
MAJORITY ALREADY ELECTRONIC
BY 2016, THE PURCHASING CARD MARKET IN NORTH AMERICA IS ESTIMATED TO REACH $290 BILLION.*
*Source: Electronic Payments Survey, Association for Financial Professionals, Nov. 2013.
BEFORE & AFTER PAYMENT PLUS
STEP 1: You process the check
STEP 2: Postmark the envelope
Automated payment to supplier by U.S. Bank
Supplier accepts and processes payment electronically
STEP 3: Drop the payment in the mail
STEP 4: Your vendor receives the check
STEP 5: They deposit the check at the bank
STEP 6: You both wait for the check to clear
STEP 7: You reconcile your bank account
HOW DOES PAYMENT PLUS AFFECT YOUR AP PROCESS? ONLY THE PAYMENT METHOD CHANGES ( FOR THE BETTER ) Everything else—how you process invoices, receipts, financial systems, coding and approval—stays the same!
THE PERKS OF PAYMENT PLUS
With Payment Plus, companies simply submit payment instructions online or with an automated file. U.S. Bank makes the payment securely and provides complete remittance information. Payments can even be monitored via automated reporting. Payment Plus also:
Eliminates expensive check writing and automates payments Allows control over payments in selecting the supplier, date and amount Provides precision protection for payment authorization down to the penny
MORE FUNCTIONALITY. LESS ADMINISTRATION.
With Payment Plus, administrators, managers and cardholders can access tools online, in real-time for completely paperless card administration, including:
Setup & Maintenance
Financial Reporting Extracts
With Payment Plus, you can reduce costs, eliminate risks and streamline your payables—all of which improve your bottom line. For more information, visit www.usbpayment.com.