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However, Todd Calman, CEO of PayfileIQ, notes that with changing any old habit, there is trepidation and pessimism. PayfileIQ faced similar pushback when they first contacted what is now their loudest advocate. “Many organizations look at an AP automation project as something down the road.”
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PayfileIQ packages its scalable accounts payable automation solution at three affordable price points to suit the needs of every organization. “Our efforts, nonetheless, are mostly targeted toward mid-market companies with a multi-level approval process,” adds Calman. PayfileIQ’s basic package is $950 a month while the advanced and enterprise plans are $1500 and $2500 a month respectively. The basic plan delivers exceptional value at an introductory level. All three plans include unlimited users, unlimited approval levels and unlimited approval alerts. Apart from that, PayfileIQ is also adept in maintaining vendor spends history, archiving invoices, and building unlimited customized reports. Needless to say, this cost-efficient approach immediately prompted SERVUS! to implement PayfileIQ, and within two weeks, had over 50 employees using the solution. “Utilizing PayfileIQ, SERVUS! immediately saw a reduction in lost, misplaced and misfiled invoices and an increase in transparency and productivity as delays in the approval process stopped. Measurable time stamped approvals went from days to hours. This speaks volumes about the value we add to a company,” remarks Gala.
Additionally, PayfileIQ offers a standalone bill payment services. For your company’s check run, you can send them a batch payables file (Payfile) and funds (ACH) and they will do the disbursement on your behalf. “Our solutions are custom-built and driven by the needs and pains of our clients,” states Gala. “At the conclusion of all of our demo’s, the customer quickly learns how committed we are about understanding their AP challenges and providing them affordable options,” concludes Calman.