Fleet offers PayMode for Reimbursement to
companies and government organizations to improve their employee
reimbursement payment process, increase employee satisfaction
and reduce accounts payable costs.
Reimbursing employees for travel, customer entertainment
and other company-related expenses is a time-consuming, costly,
and often frustrating process for Accounts Payables departments.
And the process can be equally frustrating for employees
who have expended personal funds on behalf of their employers
and expect timely payments.
Progressive organizations have identified the link between
efficient expense reimbursement processing and employee satisfaction.
After all, attracting and retaining professional and responsible
employees are mission-critical activities in today’s
environment. However, most companies are not capable of meeting
employees’ expectations in this area without spending
significant time, effort and resources in the process.
The problem lies with the errors and delays that are inevitably
created when different procedures and additional pay runs
are required for supplier payments and employee reimbursements.
Furthermore, requisite remittance information associated
with the reimbursements is often incomplete or non-existent.
This results in numerous employee inquiries to Accounts Payable
regarding the status of their payment and disposition of
their funds.
PayMode for Reimbursement is offered to companies
and government organizations to improve the employee reimbursement
payment process. Whether employees are currently reimbursed
by paper check or through direct deposit, PayMode creates
a more efficient, less costly and more satisfying process
for employer and employee alike.
PayMode for
Reimbursement:
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Improves
Employee Satisfaction – Increased employee
satisfaction leads directly to employee retention and
enhanced business performance. Employees who expend
personal funds on behalf of your company receive prompt
electronic payments directly into their bank accounts.
In addition, notifications are sent via email informing
them they have indeed been paid. This is especially
helpful for traveling employees who require use of
those funds but don't have the time to confirm a deposit
or investigate a missing payment. |
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Sends Informative
and Convenient Remittance Information to Employees – By
transmitting critical remittance information to employees
at the time of payment, Accounts Payables departments
virtually eliminate the confusion and the costly inquiries
that inevitably arise when employee reimbursements
are not accompanied by descriptive information. |
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Reduces
the Costs of Processing and Servicing Employee Reimbursements Payments
to corporate suppliers and employees become part of
the same A/P process and workflow. It is estimated
that it costs most companies between $3-$6 in incremental
labor and materials to process and service an employee
reimbursement payment. PayMode® effectively reduces
this cost by up to 90%. |
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Integrates
With A/P Systems – PayMode is designed
to work with your existing accounts payable systems.
Fleet's quick integration with your A/P system pays
added dividends by enabling employee reimbursement
payments during your regular pay runs. |
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Provides
State-of-the-Art Security – Fleet maintains
its uncompromising position and stringent requirements
for Internet data security, regardless of whether you
are paying a supplier or an employee. This includes
digital signatures with 1024-bit encryption, the strongest
encryption technology currently available commercially,
and Internet-standard SSL to enforce Internet confidentiality. |
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Helps
Improve Cash Flow – With PayMode’s
reporting and notification functions your company can
gain greater control of cash flow, adding predictability
and certainty to the process of making payments. You
can view your company's payment history, including
employee reimbursements, in real time directly from
your PayMode home page to better manage outbound cash
flow. |
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Easy
to Use – Those authorized to do so simply
log on to PayMode to create and view reports, and update
the information about your PayMode account, including
changes to bank account information. |
PayMode for Reimbursement further streamlines your
accounts payable process by removing the costly and inefficient
activities performed when valued employees require reimbursement.
Only PayMode provides the efficiency and cost-effectiveness
today’s commerce demands…with the predictability
and certainty that helps you to be more competitive, increase
profitability and improve your company’s performance.
For more information about PayMode
contact us toll free at 866-252-7366.
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