Payment Plus (Caltech e-Payables Solution)
Caltech has partnered with US Bank and Visa to promote our Procure-to-Pay initiative with targeted suppliers. We will launch a campaign beginning February 2018.
Payment Plus is Caltech’s preferred method for issuing payments to suppliers with purchase orders.
Payment Plus Campaign
Payment Plus offers suppliers different payment options: Single Use Accounts, Straight-Through Processing, and Pre-Authorized Limit Accounts.
Benefits to Suppliers
Enhancing cash flow: Participating in this program expedites the receipt of cash by eliminating mail and paper check float.
Expedited Payments: e-Payables payments are typically available within 48 hours of payment processing compared to lengthy time of issuing checks (standard net 55 terms)
Saving time and money: Participating reduces the labor, hassle, expenses and risk associated with checks
Reduced cost: Participating in this program will afford suppliers a reduced cost and manpower for billing and accounts receivable departments
Preferred Supplier Status: Suppliers will be able to have priority status for invoice approval
Going green: Paperless, electronic payments are more secure, save money and also help conserve the environment by eliminating printing and mailing paper checks.
Enhanced reporting: Participating suppliers will receive enhanced remittance information for more efficient back-end reconciliation
Benefits to Caltech
Caltech will be able to contribute to our sustainability program by reducing paper checks and going green.
For more information on e-Payables, contact the e-Payables team via e-mail at email@example.com.
This virtual card e-Payable product is offered by US Bank