Increase Your Revenue Streams With Virtual Credit Card Programs and AP Automation

In today's fast-paced Office Equipment and Imaging industry, finding innovative ways to increase revenue streams beyond managed print services is crucial for businesses like yours. Virtual credit card (VCC) programs, offered by credit card providers and payment processors, have emerged as a popular solution for both vendors and office equipment dealerships.

By enrolling in these programs, vendors can earn exciting rebates or cashback opportunities, while streamlining their accounts payable (AP) processes. Additionally, integration between AP automation systems and your ERP, such as e-automate, helps build efficiency in working with VCC programs. Our newest blog post explores how VCC programs and AP automation can work together to boost your profits as an office equipment provider.

Enroll in a VCC program

To capitalize on VCC programs’ advantages, office equipment providers need to identify a credit card provider or payment processor that offers a program that works for your business. It’s crucial to select a program with attractive rebates or cashback incentives. Once identified, businesses can enroll in the program and set up an account, establishing a foundation for future benefits.

Generate virtual credit card numbers

Within the VCC program account, businesses can generate unique virtual credit card numbers for each vendor payment. These virtual card numbers are directly linked to the company's actual credit card account, ensuring seamless transactions while maintaining financial security. Businesses can improve their payment processes and simplify payment tasks through virtual credit card numbers.

Pay vendors using VCC

With virtual credit card numbers in hand, office equipment providers can provide them to their vendors as payment options. Vendors process these payments similarly to regular credit card transactions, ensuring a smooth and familiar experience for both parties involved. By leveraging VCC for vendor payments, businesses gain the ability to streamline their payment processes while maintaining control over their finances.

Receive rebates or cashback

As businesses make vendor payments using VCC, their credit card providers track these transactions. Based on the terms and conditions of the VCC program, businesses become eligible to earn rebates or cashback on a percentage of the transaction amounts. This presents a unique opportunity for office equipment providers to boost their revenue streams and improve their finances.

Redeem or apply rebates

The earned rebates or cashback can build over time, presenting businesses with various redemption options. Depending on the VCC program, providers may offer the flexibility to redeem these rewards as credits towards the credit card statement, receive cashback deposits, or utilize them for other rewards and incentives. This allows businesses to choose the best option based on their financial needs and goals.

AP automation integration with your ERP

To further streamline the AP processes and enhance VCC programs' benefits, office equipment providers can integrate their AP automation system with their ERP. This integration eliminates manual tasks, automates invoice processing, and optimizes financial workflows. By reducing human error, accelerating payment cycles, and providing real-time visibility into financial data, AP automation enhances efficiency and maximizes the benefits of VCC programs.

Integration with Formed AI for streamlined AP workflows

By integrating VCC programs with AP automation solutions like e-automate, providers can achieve enhanced efficiency, reduce costs, and optimize their financial operations. Embracing these strategies, office equipment providers can stay ahead of the competition, build financial growth, and establish strong partnerships with vendors.

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