New tool connects customer ERP systems to the bank’s payment
automation solutions with minimal IT involvement
MINNEAPOLIS--(BUSINESS WIRE)--Oct. 26, 2016--
A major obstacle keeping organizations from choosing virtual card
payments over checks has been the effort and expense of integrating
their Enterprise Resource Planning (ERP) software with their bank’s
payment systems1. U.S. Bank has a new solution that solves
for this business challenge: U.S. Bank APConnector™, a universal adapter
that quickly, easily and securely connects most accounting systems to
U.S. Bank.
By acting as a translator between the bank’s payment systems and an
organization’s ERP software, APConnector makes the path to payment
automation seamless and cost effective. It allows organizations to send
payments electronically using secure virtual card accounts that provide
enhanced remittance data as well as improved reconciliation. Paying
corporate invoices electronically no longer requires a major commitment
of information technology (IT) resources. Set-up time for launching a
virtual card solution shrinks to as little as a few weeks, versus up to
three months in a conventional set up.
“APConnector removes a primary barrier to virtual card adoption:
Accounts Payable system integration,” said U.S. Bank Virtual Payments
General Manager Bob Kaufman. “With APConnector, organizations can
realize the increased efficiency and cost savings offered by U.S. Bank
Virtual Pay without modifying their ERP systems or undergoing a major IT
project. Even if a client changes ERP systems, they can continue to use
APConnector. It’s the fastest way to get on board and stay on board with
virtual payments.”
APConnector was developed in partnership with Atlanta-based Regal
Software, a leading disbursement automation software provider for
accounts payable systems. “The last mile in automating the
procure-to-pay process is connecting customers’ accounting systems to
their financial institution’s treasury system,” said Regal Software CEO
Kofi Conduah. “U.S. Bank turns that final mile into a sprint with its
APConnector tool. It makes the whole process very simple and adds a
higher level of security at the same time.”
For more information on APConnector, visit usbpayment.com.
About U.S. Bank(www.usbank.com)
Minneapolis-based
U.S. Bancorp (NYSE: USB), with $438 billion in assets as of June 30,
2016, is the parent company of U.S. Bank National Association, the fifth
largest commercial bank in the United States. The Company operates 3,122
banking offices in 25 states and 4,923 ATMs and provides a comprehensive
line of banking, investment, mortgage, trust and payment services
products to consumers, businesses and institutions.
About Regal Software (www.regal-software.com)
Regal
Software is an independent software provider headquartered in Atlanta.
The company is a leading manufacturer of software that integrates ERP
systems with treasury management solutions offered by major banks.
RegalPay®, the company’s universal application, has been
integrated with more than 50 major accounting systems and manages over
$3 billion in enterprise B2B payments annually.
1 Cited by 66 percent of respondents in Association for
Financial Professionals2013
Electronic Payments Survey.
©2016 U.S. Bank National Association
View source version on businesswire.com: http://www.businesswire.com/news/home/20161026005267/en/
Source: U.S. Bank
U.S. Bank Corporate Communications
Bill Brady, 612-303-0731
bill.brady@usbank.com
or
Regal
Software
Jason Pace, 678-561-7223
SVP Business Development
jason.pace@regal-us.com