Case Studies
Case studies
The payoff to
better payments
Here are the real stories about how Finrails works in practice, helping companies large and small tailor payments to their needs, making them faster, more accurate and more secure.
Industrial manufacturer and supplier streamlines payment process
Challenge
Jason Zenger is owner and president of Zenger’s Inc., an industrial supply company providing metal working tools and industrial MRO supplies to the manufacturing industry. Jason and his team needed to simplify their payment processes so they could focus more on the tasks needed to grow their business.
Solution
The company was introduced to Finrails AP through their existing banking relationship. By implementing virtual cards and electronic ACH, Zenger was able to remove check issuance off their plate and improve overall efficiencies.
“Finrails has been a game changer for our business! With their help, we can now focus on growing our business and providing exceptional service to our customers instead of getting bogged down in the tedious details of payment processing,” Zengers said.
Finrails AP automated payments ensure accurate reconciliation and reduce the risk of fraud exposure.
“The seamless integration with our ERP system really set Finrails apart from the competition,” remarked Zengers. “Finrails streamlined the payment process for our business so we could take our business to the next level.”
Outcomes
Finrails allowed Zenger’s Inc. to:
Onboard numerous vendors quickly and smoothly with the help of Finrails AP customer service team
Pay vendors in the way they want to be paid, including virtual cards and electronic payments
Reduce the risk of fraud with a secured payment platform
Building manufacturer and supplier saves time and reduces errors with Finrails
Challenge
Allison Hutson is a staff accountant at Burrow’s Post-Frame Supply, a one-stop shop for building materials and accessories for professional building contractors. Before Finrails, the business was forced to wait for checks to be signed, make sure checks were printed correctly, and manually mail payments. In addition, they struggled with initiating ACH transactions separately on their banking platform.
Solution
To simplify and automate their payment processes, they adopted Finrails AP accounts payable platform.
Finrails AP provided the company with an efficient, streamlined process to send ACH payments and a virtual card option that also provides helpful rebates.
The Finrails AP platform offered Burrow’s added fraud protection by implementing dual authorization for secured processing payment.
Outcomes
Finrails AP allowed Burrow’s to:
Reduce payment processing time from 2 hours to 10-15 minutes
Eliminate unnecessary steps and reduce errors when processing invoices
Improve communication with vendors regarding payment status and corresponding invoices
Manufacturer of law enforcement equipment converts to paperless accounts payable
Challenge
Veronika Jungels is Chief Financial Officer of Paratech, a manufacturer of equipment for emergency rescue located in the Chicagoland suburbs. Since joining Paratech, she was tasked with investigating better ways to automate cumbersome vendor payment processing.
“We quickly discovered the current process was tedious and time consuming,” she said. Additional challenges included printer breakdowns and conflicts with executive travel schedules, which made their existing process very inefficient. When they embarked on this journey, they also wanted to find a “green” accounts payable solution to cut back on paper and storage.
Solution
They decided to use the Finrails AP accounts payable platform.
“It was a luxury to think that we could automate single-use virtual cards, ghost cards, ACH or check payments to vendors in a single platform allowing for our executives to approve payments from any location,” remarked Jungels.
Finrails assigned a team to work with Paratech on implementation by enrolling their vendors and troubleshooting any hurdles throughout the process.
“It was an amazing feeling to be supported by a team that invested their time to make sure that this worked for us,” Jungels shared.
Outcomes
Finrails AP allowed Paratech to:
Facilitate payments quickly and easily with the help of Finrails AP customer service team’s assistance with onboarding
Implement a greener solution via a paperless AP environment providing more time to focus on analytical tasks
Provide flexibility for executives to initiate approvals while out-of-office during personal or business travel