Inworks® a Portland, Oregon-based financial services company specializing in revenue-generating AP strategies for healthcare institutions, commercial industry and higher education, announced today that it now provides Strategic AP® ePayables services to packaging and sheet feeder companies throughout the United States. The Inworks Strategic AP program includes the Intelligent Pay electronic payment platform, a comprehensive package of ePayment technology, invoice automation and financial services focused on helping customers reduce paper consumption, boost efficiency and build new revenue through AP.
Through its Intelligent Pay platform, Inworks is currently processing millions in payments for the packaging and sheet feeder industry.
“We’re excited to see our unique service embraced by the packaging industry,” said Don Carlson, CEO of Inworks. “With AP automation, invoice financing, and the industry’s most robust ePayment platform, the Inworks Strategic AP program makes a paperless system more efficient and cost effective for any business model.”
The Inworks Intelligent Pay platform provides the most comprehensive choice of secure electronic payment methods, helping companies of all sizes maximize AP efficiency and reduce administrative costs. The platform also helps companies achieve more than double the industry average for supplier participation in their ePayables programs. By offering the industry’s broadest range of customized e-pay methods, Inworks enables its clients to meet each of their supplier’s specific payment requirements. These payment methods include ACH, credit card, and the Inworks Connect private network, which provides a complete range of services for secure electronic payment and remittance, in addition to early pay options.
Inworks also helps increase supplier participation by managing supplier communication and onboarding for its customers. The company’s electronic Supplier Enrollment Center offers new suppliers an easy and convenient sign-up process.
The Strategic AP Program helps companies maximize working capital through a Web-based, automated payment and remittance system that streamlines the AP process and reduces administrative costs. The program also offers invoice automation and an AP funding arrangement through which Inworks pays supplier invoices up front and allows its customers to repay invoice amounts on extended terms. This funding arrangement allows businesses to maximize their number of days cash on hand and take full advantage of increased working capital. Inworks provides these services at no initial cost to its customers. Suppliers, in turn, can rely on consistent, on-time payments, which accelerate growth and eliminate collection costs.
Inworks is headed by healthcare, banking and business and accounting professionals, and is founded on more than 30 years of electronic transactions expertise. The company’s Web-based payment solutions provide a highly secure and reliable vehicle for electronic transactions and allow hospitals and healthcare systems to maximize their working capital while building stronger relationships with their suppliers.