FAQ's

 1. My ERP already does this doesn't it?
 2. My e-invoicing vendor offers this already, don't they?
 3. Will this work with my ERP system?
 4. Who is Invapay?
 5. Why would vendors sign up?
 6. How is this going to affect my key vendors?
 7. Do I have to use a P-Card?
 8. I heard P-Cards don't deliver what they promise.
 9. Card holders can't be trusted can they? You're giving them too much leeway.
10. Business units won't adopt this will they? It's a bit complex isn't it?
11. Is it expensive?
12. How is this going to increase my revenue or reduce my costs?
13. How will this improve my liquidity?
14. Will this mean I lose staff?
15. How does this impact my commitment accounting requirements?
16. Is it VAT compliant?
17. If all transactions are going through Invapay, will I lose sight of them?
18. Is this safe from a regulatory perspective?
19. Doesn't this open me up to fraud?
20. Why are one-time-only vendors a problem?
21. What is the benefit to my organisation?
22. I don't want to pay sooner! 

 1. My ERP already does this doesn't it?     

• No.  ERP systems do not handle P-Card payments, they prepare a payment file which is passed on to another system for processing.  With Invapay, buyers make purchases from vendors via Invapay.  The vendor receives payment direct from Invapay and level 3 line item detail for the transaction is automatically provided back to the buyer ready to integrate to the ERP system.

 2. My e-invoicing vendor offers this already, don't they?

• No, Invapay also deals with payments.  We provide e-invoicing as part of our offering but can also integrate with your e-invoicing vendor as required.

 3. Will this work with my ERP system?

• Invapay works with all ERP systems.  Data is delivered in a format to integrate automatically to your particular ERP system(s).

• Invapay is a company comprised of established AP, Procurement and Payments industry leaders.
         ~ Find out more about the people behind Invapay here

• Some vendors are prevented from dealing with you because of the high costs to sign up to P-Card programmes / to accept credit card payment.  With Invapay these costs are removed, making it easier for a wider range of vendors to work with you.
• Vendors also benefit from guaranteed quick payment, so they don’t need to spend time chasing payments and they benefit from improved cash flow.

• Invapay helps vendors to trade with you without the administrative headache of being set up on your system, participating in your P-Card programme, or waiting to get paid.  Buyers prefer to deal with one-time-only vendors through P-Cards, however the cost of participating in P-Card programmes discourages many vendors.  Invapay removes this necessity, and ensures vendors receive payment within five days (subject to terms established with the buyer).  

• No.  You can use your P-Card if you wish, but it is not essential.

• You are right!  This is why we created Invapay to ensure you can realise the benefits of P-Cards.  A key problem of P-Cards has been a lack of vendors joining the programmes.  P-Card payments are limited to vendors that accept credit card payments, however vendors face significant costs to become a credit card acceptor and participate in P-Card programmes.  Invapay removes the need for vendors to directly participate in your P-Card programme.

• Invapay enables you to fully control what card holders can buy.  You can put in place spend limits, restrict the choice of vendors etc.  Invapay protects procurement strategies by limiting maverick spend and ensuring compliance.

• No, it's actually much simpler than what you do now.  Business units just need to make their purchase through Invapay, and the vendor will log on and accept the order.  From this point, there is nothing else for the business unit to do.  Once the order has been processed and paid for, the buyer will receive the detailed line item data for the transaction.
• For more on the process see Online Ordering & Payment

• No, it costs nothing to set up and will actually save you money by reducing your administrative costs dealing with one-off vendors.   Further, Buyers can also benefit from purchase rebates for all purchases made through the Invapay system.

• It won’t increase revenue necessarily, it will increase profit.  Buyers’ administrative costs are significantly reduced, and the rebate accorded to buyers helps reduce the overall cost of goods, therefore improving the bottom line.

• By helping you make better use of your existing P-Card credit lines.

• Not necessarily.  Using Invapay reduces the administrative tasks involved in the purchase-to-pay process, so will free up your staff’s time to spend more time on strategic tasks.

• It makes meeting them easier as the quality of data you receive is much better per transaction

• Yes.  HMRC has reviewed and approved Invapay.

• No, level 3 line item detail is provided for every transaction.  You will actually have better visibility of spend than you currently do.

• Yes, Invapay fully complies with VAT requirements.

• No, Invapay actually helps protect you against fraud.  Invapay provides mechanisms to control spend.  In addition, detailed level 3 data is provided for each transaction, meaning any fraudulent attempts are easier to identify.

• One-time-only vendors can account for 80% of an organisation’s purchase-to-pay administrative costs.  Invapay offers a simple and cost effective way to process / pay these vendors.

• Improved liquidity
• Secure spend controls
• Remove the problem of your ‘long tail’ so you can spend more time on priorities such as strategic sourcing, and reduce administrative costs
• Maximise the benefits of your P-Card programmes
• Level 3 data for all transactions means all spend can be analysed and anomalies picked up quickly and easily
• Drive compliance of procurement strategies
• Improve poor relationships with vendors
• by reducing reputational risk from late payment
• by reducing the risk of falling foul of late payment legislation
• vendors do not need to chase payments

• You don’t have to – you can pay according to the terms you want, this just gives you more control.