CHICAGO--(BUSINESS WIRE)--U.S. Bank and accounting software leader Sage today are announcing a new partnership for the benefit of their mutual North American customers. The introduction of AP Optimizer™, built by the bank on the Sage Live accounting platform, marries practical, cost saving information – like the best time to pay bills and the best method for payment – with easy-to-execute action to help U.S. Bank’s business customers maximize cash flow. Users can act on the tool’s recommendations from any computer or mobile device.
The announcement was made at the Sage Summit annual conference today. It marks the first truly digital accounting and payment solution that enables small and medium businesses to manage their cash flow in near real-time through dynamic integration with customers.
“The AP Optimizer is just the first step into a new future of capabilities built on integration between payments and accounting,” said Bradley Matthews, head of Middle Market Product & Marketing for U.S. Bank Corporate Payment Systems. “By showing the projected cash flow from both payables and receivables, the user quickly sees how to maximize their working capital and avoid ‘crunch times’ of late payments and loss of ‘float.’”
U.S. Bank customers have exclusive access to the AP Optimizer’s Consolidated Payables tool, which streamlines multiple payment methods such as check, virtual card, ACH and wire into one simple and efficient process. The AP Optimizer’s Cash Flow Analyzer evaluates payments and cash flow data and identifies best times to pay.
“No matter how many different forms of payment your various suppliers require, AP Optimizer makes payments simple,” said Mary Burchette, senior vice president for product management at U.S. Bank Treasury Management. “I've never seen a user experience that combines multiple payment types in such a user-friendly way while also providing accounting analysis that can be used to continually make the process more efficient and immediate."
While the payables component is only for U.S. Bank customers, any Sage Live customer can gain insights from the Optimizer’s comparative data, which shows how their organization stacks up against its peers and best-in class performers. It includes a calculation of the savings or additional revenue that could be realized by making specific changes.
"More timely cash flow information is crucial to growing businesses as they look to improve customer service and operations,” said Alan Laing, executive vice president of Partnerships and Alliances at Sage. “The data insight that Sage Live gives coupled with the capabilities of U.S. Bank will bring joint clients a new level of timely control over their cash flow."
Sage Summit attendees are invited to visit U.S. Bank Booth #324 at Chicago’s McCormick Place during exhibit hours to ask questions or view a demo of the AP Optimizer.
©2016 U.S. Bank National Association
About U.S. Bank (www.usbank.com)
Minneapolis-based U.S.
Bancorp (“USB”), with $429 billion in assets as of March 31, 2016, is
the parent company of U.S. Bank National Association, the fifth largest
commercial bank in the United States. The Company operates 3,129 banking
offices in 25 states and 4,954 ATMs and provides a comprehensive line of
banking, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
About Sage (www.sage.com)
Sage
is the market leader for integrated accounting, payroll, and payment
systems, supporting the ambition of the world’s entrepreneurs. Sage
began as a small business in the U.K. 30 years ago, and over 13,000
colleagues now support millions of entrepreneurs across 23 countries as
they power the global economy. We reinvent and simplify business
accounting through brilliant technology, working with a thriving
community of entrepreneurs, business owners, tradespeople, accountants,
partners and developers. And as a FTSE 100 business, we are active in
supporting our local communities and invest in making a real difference
through the philanthropy of the Sage Foundation.
