City of Augusta Selects PayMode
Electronic Payment Solution to Streamline Core Financial Processes
Maine's Capital City Modernizes Financial
Services with Electronic Payments
AUGUSTA, Maine — August
26, 2002 —The City of Augusta, Maine has
chosen PayMode®,
the market’s leading electronic payment solution,
to make secure, electronic payments with detailed remittance
information to its vendors and other payees. The City of
Augusta is implementing PayMode as a way to further improve
the efficiency of its financial services department and
automate critical city functions. With PayMode, the City
of Augusta will build on Maine’s momentum in technology
innovation, and will lead the way as an electronic payments
leader among municipal governments.
With PayMode, rich remittance
information travels in tandem with payments in a purely
digital format, linking with
its users’ existing accounts payable and accounts
receivable systems. The implementation of PayMode® also
works to quickly enroll its customers’ suppliers,
vendors and service providers to ensure a quick receipt
of value. PayMode enables efficient initiation, approval
and transmission, as well as receipt, posting and reconciliation
of payments. PayMode requires no changes to existing systems,
internal payment processes or bank relationships. Currently,
approximately 100 municipal and state organizations are
using PayMode to make or receive payments.
The city chose
PayMode after evaluating its success with the State of
Maine, another PayMode client. A crucial strength
is the ability of the network to easily integrate into
accounts payable systems, quickly enroll suppliers and
vendors and provide quality customer support.
The City
of Augusta, which works with more than 1,200 public and
private sector vendors, will immediately benefit from
the value PayMode delivers, as many of its key vendors
and suppliers are already part of the electronic network.
Select city vendors that are not already part of the
network will be invited to enroll. In addition, PayMode will
be
integrated with the city’s existing accounts payable
system, allowing the city to make electronic payments without
requiring changes to its systems or workflow.
Contact: Ann McCormick
, 207-771-3769, ann_f_mccormick@fleet.com
