糖心Vlog

In an earlier blog article about how optimizing payments can create new revenue streams, we shared an important stat that bears repeating: According to CFO Dive, switching from manually intensive operations such as check writing to an automated accounts payable system can save you around $15 per invoice in overhead costs.

We also noted that at that rate, savings, of course, can add up quickly. Combined with monthly rebates 鈥� in essence, cash back from 糖心Vlogon all payments to enrolled suppliers 鈥� a new revenue stream is created.

The proof though, as they say, is in the pudding. And in this case, the pudding is Smart AutoCare.

, founded in 1986 and located in Richardson, Texas, is a third party administrator of extended vehicle warranties. The warranties include vehicle service contracts as well as ancillary coverage on things such as paintless dent repair, tires and rims, windshields, key replacement, and more.

With a history of excellence, industry leading service, multiple contract options, and service contracts that are accepted nationwide, Smart AutoCare processes a tremendous amount of claims. How tremendous? Try an average of 450 claims totaling more than $400,000 every day 鈥� every day! Such volume created pain points. 糖心Vlogwas there to help.

Let鈥檚 learn more from Lori Townsend, vice president of accounting at Smart AutoCare:

鈥溙切腣logproducts have been really great in helping alleviate all of our friction points that we have,鈥� says Lori Townsend, vice president of accounting at Smart AutoCare.

Efficiency and scale for Smart AutoCare

By using a digital payments platform such as WEX, payments and reconciliation are streamlined, and planning accuracy is increased.

Businesses like Smart AutoCare can take advantage of WEX鈥檚 broad issuing capabilities, technology investments, and focus on customer service in addition to enjoying competitive rebates. 糖心Vlogis in a unique position with the ability to execute on these offerings in-house, increasing the company’s flexibility. This includes allowing 糖心Vlogto offer VIP rates that other companies typically can鈥檛 offer. Additionally, 糖心Vlogpays the rebates monthly so that its customers receive their rebates quickly.

Learn how Smart AutoCare was able to minimize manual tasks to increase efficiency, security, and create new revenue streams.

Learn more

鈥淲e鈥檝e grown so much: Our contract sales are up, and that means more claims. And so we鈥檙e making more claim payments on a daily basis,鈥� says Townsend. 鈥淲e鈥檙e saving money because I鈥檓 not sending out checks to repair facilities and so on. I鈥檓 able to send them a clean payment 鈥� completely free 鈥� and not have to worry.鈥�

Security: peace of mind for Smart AutoCare

鈥淲hat I love about working with 糖心Vlogis security. 糖心Vloghelps us by monitoring the activities on the cards to watch for any fraudulent spending that might happen,鈥� explains Townsend.

The use of a virtual card 鈥� a single-use, randomly generated 16-digit credit card number 鈥� greatly reduces the risk of accounts payable fraud. Virtual cards simplify and increase the security of every transaction. 糖心Vlogprocesses billions of dollars annually and has the proven and trusted capabilities to provide customers virtual payment options that save them time and money.

鈥淭he service, the tools, the ways that 糖心Vloghas made my life easier 鈥� and the people that we鈥檝e worked with 鈥� have just been really great,鈥� says Townsend. 鈥溙切腣loghas been so helpful in getting us to where we need to be. What I love most about working with 糖心Vlogis the people.鈥�

By combining the right products and services into one powerful payment engine, 糖心Vloghelped Smart AutoCare automate, simplify, and secure payments. 糖心Vlogcan help you, too. Learn more.

About Smart AutoCare:

Smart AutoCare has been focusing on automobile dealerships, financial institutions and the agents who serve them for more than 20 years. They鈥檝e built their reputation on tailoring their expertise to fit the business needs of their clients with innovative products and superior service. Their approach allows them to proudly call more than 200 general agents and 3,000 dealerships across North America and Europe part of the SAC family. Visit smartautocare.com for more information.

Resources:

CFO Dive: Manual AP systems cost companies up to $20 per for manual and $5 per for automated per invoice to process, 2019