Company: QubicaAMF
Background: QubicaAMF is the leading manufacturer and marketer of bowling and amusement products in the world. With worldwide headquarters in Richmond, Virginia, they offer a complete line of high quality, innovative solutions for new and existing bowling and entertainment centers.
Business Need: QubicaAMF wanted a solution that would allow them to pay additional vendors electronically and earn more cash rebates.
Solution: The Payments Company (TPC) introduced AP advantage™, a comprehensive solution for transitioning away from paper checks to electronic vendor payments. TPC created an interface from QubicaAMF’s accounting software and enrolled over 400 vendors that accept VISA® or ACH. In addition, many QubicaAMF employees signed up for direct deposit of their expense reimbursements.
Key Factors in QubicaAMF’s Decision to use AP advantage™:
- A comprehensive solution to automating vendor payment processing
- Opportunity to earn significant cash rebates quarterly
- TPC’s payments expertise and innovative software
Results: QubicaAMF has seen significant financial and efficiency benefits from AP advantage™. They have reduced the number of checks printed and now can ensure cash discounts are earned through the use of regularly timed e-payments. Cash rebates now make Accounts Payable a profit center for QubicaAMF.