General
Who is Finexio, what do they do?
- We are defining the category of "AP Payments as a Service"
- We pay 100% of our customers invoices better, faster, and cheaper than they do internally
- The white glove service means more free time for CFO's, Controllers, and AP managers
How hard is it to Implement?
- Finexio works instantly with any Accounting or ERP system
- Average launch time is 6 weeks
- Nothing to install and no IT resources required
What value does Finexio add for their customers?
- Manual AP payments cost between $6-$10 per payment and take an average of 10 hours per week
- Payments with Finexio cost $0 and take no time
- Phone calls from suppliers are eliminated by 24/7 online tracking
How does Finexio know who and how to pay?
- We analyze our customers supplier list against a number of payment networks to determine the best way to pay those suppliers
- Our technology uses internal and external data on payment method preference to fill in contact and company data gap
How does Finexio benefit customers' suppliers?
- Suppliers are paid faster and more securely
- Suppliers have many options on how and when to be paid, ensuring there is a payment for everyone
- Suppliers gain peace of mind by knowing when their payments will arrive via online reporting.
How does Finexio ensure accuracy in supplier-buyer transactions and relationships?
- We perform Know-Your-Customer (KYC) on our customers and suppliers that are paid electronically
- We also leverage third-party services like Lexis Nexis, Plaid, and Microbilt to validate company information and bank accounts to ensure account validation
How can Finexio do this so affordably?
- We employ Automation Technology and AI to pay your bills
- Most suppliers already accept electronic payments
- Financial institutions pay Finexio to create electronic connections that eliminate friction and reduce fraud
What’s involved in implementing Finexio’s solution?
Finexio works instantly with any Accounting or ERP system. Nothing to install and no IT resources required
Is this secure?
Finexio’s physical infrastructure is hosted and managed within Amazon’s secure data centers and utilizes the Amazon Web Service (AWS) technology. Amazon continually manages risk and undergoes recurring assessments to ensure compliance with industry standards. Amazon’s data center operations have been accredited under: ISO 27001, SOC 1 and SOC 2/SSAE 16/ISAE 3402 (Previously SAS 70 Type II), FISMA Moderate, Sarbanes-Oxley (SOX), AML/KYC Screening
