VenPay

Transform Your B2B Payment Process with VenPay

Effectively manage and automate B2B payments through a single workflow, creating a cost-efficient process benefiting you and your vendors, while generating revenue through card rebates. With the security features of Positive Pay and Exact Match, you can rest assured that your payments are protected.

HancockWhitney Venpay

See How VenPay Can Improve Your Payables Process

Simple Implementation in as Little as 30 Days

Simple Implementation in as Little as 30 Days

  • Seamlessly and securely integrate with your existing accounting system with no business interruption.
  • VenPay receives a payment file directly from your accounting system, and we customize our programming to fit your needs— requiring less IT time.
  • Our program accepts CSV files from most accounting systems.
  • No software downloads or system changes necessary.

Improve Efficiencies and Reduce Costs

Improve Efficiencies and Reduce Costs

  • Automating payables can reduce invoice processing time by up to 80%1.
  • Consolidate card, check and ACH payments into a single process that can be easily managed.
  • Through its efficient process, VenPay allows you to optimize your accounts payable resources.
  • Case Studies show that invoice processing without automation can cost almost 2x as much as invoice processing with automation.

1Aberdeen Case Study

Manage Cash Flow and Increase RebatesManage Cash Flow and Increase Rebates

  • Our vendor enrollment campaign can increase the number of suppliers accepting credit card payments, which boosts your rebate.
  • Maximizing card spend can increase cash on hand, freeing up capital for other ventures.

Visibility Into PaymentsVisibility Into Payments

  • Our easy to use portal displays the status of invoice payments processed through VenPay.
  • Vendors can easily view the status of their payments through the vendor portal, enhancing communication between you and your vendor.
  • Reporting functionality makes reconciliation quick and efficient.
  • Daily reconciliation files can be securely received directly into your accounting system.

Reduce Errors & Enhance Security

Reduce Errors & Enhance Security

  • Moving to electronic payment methods can reduce fraud by up to 65%.2
  • VenPay reduces errors by eliminating manual payment processing.
  • Exact Match provides enhanced control over your card payments by preventing unauthorized charges from posting to your accounts.
  • VenPay can also support your Positive Pay process to help guard against check fraud.
  • Increasing automation can decrease the error rate of vendor invoice payments from 4.0% to 3.1% when automation was increased.

2Case Study: Automating Healthcare Supplier Payments by NACHA

Single File Payment Processing

Single File Payment Processing

  • Payment instructions are facilitated with one consolidated file.
  • Multiple payment methods offer flexibility – Virtual Cards, ACH, and check payments available.
  • The VenPay support team will work with you and your vendors to select the best payment option.
  • Companies who switched from a low level of automation to a high level had employees who were able to process almost 4x the amount of invoices per month.

1Aberdeen Case Study

We look forward to working with you.

To learn more about VenPay, submit the form below and a banker will be in touch.

Contact us.

We're here for you.

venpaysupport@hancockwhitney.com

One Hancock Plaza, 2510 14th Street, Gulfport, MS 39501