Adams & Fogg Oil Equipment Company
Oil equipment company cuts AP processing time by one third while creating new revenue with Edenred Pay’s Payment Automation Platform.
BACKGROUND
Adams & Fogg Oil Equipment Company relies on Jonas Construction Software to manage its financial systems. Office Manager Ginny Lawless is the primary user of those financial systems and recently attended a Jonas Users Conference. That is where she learned of a new partnership with Edenred Pay. The partnership enables Jonas to bring an industry leading electronic payment solution to its client base.
“We had been paying our bills primarily through paper checks,” recalls Lawless. “When I heard that Edenred Pay could automate our accounts payables with their Payment Automation Platform and that we could earn a rebate just by paying our bills, we decided to give it a try.”
SOLUTION
Edenred Pay’s Payment Automation Platform is integrated with Jonas Construction Software. The integrations enables customers like Adams & Fogg to automate the payment process.
Payment files are uploaded directly to Edenred Pay from Jonas. Once invoices are reviewed and approved, the platform generates a single-use virtual card number. The VC number is then sent to the vendor for each payment. Since the system is integrated with the Jonas Construction Software, “the tracking and account reconciliation just falls right into place,” said Lawless.
Adams & Fogg continues to issue paper checks for non-card accepting vendors, but Lawless finds this process both costly and time consuming. “I wish everyone accepted virtual cards. Using the virtual card capabilities of Edenred Pay’s Payment Automation Platform is a lot easier. And we’re always done with payments long before we’ve finished mailing checks.”
RESULTS
In just three months, Adams & Fogg estimates that it has cut the time required to process monthly payables by at least one third. The time they get back equates to substantial cost savings. Additionally, they’ve more than doubled their monthly rebate earned. And Edenred Pay continues to work on behalf of Adams & Fogg, enrolling vendors in the virtual card program.
Not only is Lawless elated that Adams & Fogg made the move, she also highly recommends Edenred Pay to all other Jonas Construction Software users.
“Edenred Pay’s Payment Automation Platform is very easy, and the rebate is wonderful. Who wouldn’t want to save money and make money at the same time?”
The level of service that Adams & Fogg receives from Edenred Pay’s team has also been a standout for Lawless. “Edenred Pay is extremely easy to work with. If I ever have a problem, they respond immediately…not later or tomorrow – immediately. You just don’t find that kind of service anymore.”
