Employees Reimbursed for using
PayMode Electronic Payment Solution
Single Solution to Support Both Supplier
Payments and Employee Expense Reimbursements
BOSTON, MA— July
15, 2002 — The
providers of PayMode, the only bank-neutral, electronic
payment solution enabling secure, information-rich, business-to-business
transactions, today announced the immediate availability
of PayMode for Reimbursement, a business-to-employee service
of its market-leading business payment solution. PayMode for
Reimbursement enables companies and public sector organizations
to further streamline their business process by electronically
reimbursing employees for travel, entertainment and other
business-related expenses, an otherwise time-consuming,
expensive and often frustrating activity for employer and
employee alike.
With PayMode for Reimbursement, businesses
can now initiate and execute employee reimbursements
directly from their
accounts payable systems, along with key remittance information,
with the same process used to make their supplier and
vendor payments. This service helps businesses strengthen
employee
relations and satisfaction while creating a more efficient,
lower-cost accounts payable environment for the employer.
PayMode
for Reimbursement requires a simple set-up by accounts
payable departments. Employee reimbursements
are then made
during a company’s regular payment cycle directly
from their accounts payable system, rather than as
an additional activity. Companies can use PayMode’s
online reporting functionality to review payment and
remittance data and
to track the status of both their supplier payments
and their employee reimbursements.
The service uses
automatic e-mail notifications alerting
employees to the timing and nature of each reimbursement.
In addition to the benefits available to employees,
PayMode virtually eliminates the costly and labor-intensive
inquiries
made to accounts payable departments by employees
seeking information about the status of payments.
Contact: Ann McCormick
, 207-771-3769, ann_f_mccormick@fleet.com
