How Citizens Bank Achieved End-to-End AP Automation with Bottomline

Key objectives

Expand payment options to customers and regulate both payment terms and compliance.

By adopting the Paymode, Bottomline's B2B payments network, Citizens' commercial customers experience benefits across multiple areas of functionality:

• Treasury – optimizes working capital, increases visibility and forecast accuracy
• Accounts Payable – improves efficiency and mitigates risk of error and fraud
• IT – supports electronic payments with minimal resource requirements
• Purchasing – effectively manages spend and faster payment terms

Key stats

9/10 of Paymode customers said onboarding vendors is easier with the solution than any competing offering

90% of customers
said Paymode improves straight-through processing

80% of customers
said the ramp-up for Paymode was quicker than expected

8/10 customers
said they earned over 50% more cash-back rebates with
Paymode

“Vendors find the biggest benefit is the ability to track payments throughout the process. Many of these vendors watch their dollars closely and need to know where their money is at all times. Receiving payments through Paymode-X provides that visibility and gives vendors peace of mind.” 

Kristie Dannenfelser | Purchase-to-pay Operations Manager