Now Is the Time to Ditch Paper Checks
Switch to Vyteo’s AP Payments Automation software and shave 50% off payment processing time.
Now Is the Time to Ditch Paper Checks
Switch to Vyteo’s AP Payments Automation software and shave 50% off payment processing time.
AP Payments Automation Software Trusted by Top Real Estate Companies
Based on
interviews with Vyteo customers.
VyteoPayments is the leading AP Payments Automation software for
multifamily, CRE, and other real estate companies. With just
clicks, you can manage every step of the payment process online,
from approval to payment. No matter how many vendors you
have.
Whenever you’re ready, simply generate a file of approved invoices in your property management system. Designated approvers review the transactions in VyteoConnect and give Vyteo the green light to issue payments.
Vyteo will then debit your bank accounts and pay vendors using Vyteo Virtual Card, VyteoDirect, Premium ACH, or Vyteo outsourced check.
Go Electronic Overnight
Once you sign up for VyteoPayments, Vyteo will identify all your suppliers who can be paid electronically, either via
- Vyteo Virtual Card (a one-time use card)
- Premium ACH ( an ACH transaction)
We’ll review the findings with you and start paying your suppliers in the payment method that works best. You’ll be up and running quickly.
Vyteo will reach out to suppliers who haven’t already signed up for an electronic payment method and encourage them to switch to one.
.
Lower Your Risk of Fraud
Both Vyteo Virtual Card and Premium ACH are far more secure than paper checks.
- Vyteo Virtual Cards have safe-guards built in. They are funded for a specific amount and cover a pre-designated transaction (or transactions). They expire in 90 days.
- Premium ACH relies on the Paymode-X fraud-free payments network, which has multiple levels of security. $300 billion paid annually without a single incidence of fraud.
“VyteoPayments has given time back to me, my team, my department. We’re able to be more efficient and more effective in our daily, weekly, and monthly duties. And it has given us time to reevaluate how we do other things in our department and be able to take on more duties and be able to do them better.”
Sue Roberts, Habitat America
Easily Manage Bank Accounts Used for AP Payments Automation
Add New Bank Accounts
Without Hassle
Add your bank accounts to VyteoConnect.
We’ll verify the accounts have been set up correctly. No fees to
add or change banks.
Add New Bank Accounts
Without Hassle
Add your bank accounts to VyteoConnect.
We’ll verify the accounts have been set up correctly. No fees to
add or change banks.
Forget Set Aside Accounts
and Hidden Fees
Once you say go, we’ll processes payments immediately – and
directly debit funds from your linked bank accounts. No interest
charged.
Forget Set Aside Accounts
and Hidden Fees
Once you say go, we’ll processes payments immediately – and
directly debit funds from your linked bank accounts. No interest
charged.
Maintain Your Banking
Relationships
Vyteo can debit any bank account to issue supplier payments. So,
you can keep your banking relationships intact, no matter how
many banks you have.
Maintain Your Banking
Relationships
Vyteo can debit any bank account to issue supplier payments. So,
you can keep your banking relationships intact, no matter how
many banks you have.
Vyteo Works Seamlessly with These GLs, Plus Many Others
Quickly Reconcile Your AP Payments
Whether Vyteo pays your suppliers/vendors with virtual card, ACH, or check, it’s simple to reconcile your bank statements. Just login to VyteoConnect and match debit totals with debits on your bank account statements. Drill down to see individual transaction amounts. You can cross-reference with your GL.
If Vyteo issues checks on your behalf, we’ll use the same check numbers that are in your GL. No cross-referencing or extra steps needed.
Simplify AR for Your Suppliers
Faster Payments
Vyteo processes payments immediately. Electronic payments reach
suppliers/vendors in just a few days.
Visibility into Payment Status
Suppliers can track payment status online 24/7 using the VyteoConnect online portal.
Guaranteed Payments
Vyteo Virtual Cards are backed by Visa. You’re covered in the rare event that the supplier/vendor is hacked and funds are stolen.
Improved Reconciliation
Suppliers get complete remittance details in each virtual card
notification email. They can also see details in VyteoConnect.
There are many:
- Lowers your payments costs – By automating your vendor payments with Vyteo, AP payment costs often drop by 40% because you don’t have to pay for printers, postage, ink, and many other expenses associated with getting checks out the door.
- Saves time – Vyteo customers report they shaved off 50% of their time over manual payment processing because documentation and approvals are centralized and online – and any action only requires a few clicks to complete.
- Increases security – Electronic payments, such as Vyteo virtual card and ACH, are far more secure than checks (see below).
- Increases visibility for both you and your suppliers – Payment status is visible online 24/7 in VyteoConnect.
No. You can choose whom you pay electronically. For example, if you have a vendor that likes to stop at the boss’s office to chit chat and receive their check, you can still do so. You choose whom you pay through Vyteo and whom you pay in-house. But keep in mind, the more suppliers you pay electronically, the more time and cost savings you’ll achieve (not to mention rebates you’ll earn).
Yes. You can start with automated vendor payments only. However, there’s a lot more functionality when you automate payments and invoices together, such as the ability to see the full invoice that you paid or are about to pay.
Vyteo will pay suppliers on your behalf using Vyteo Virtual Card, VyteoDirect, Premium ACH, or outsourced check. Vyteo Virtual Card, VyteoDirect, and Premium ACH can generate rebates that can cover licensing fees. Vyteo processes the payments immediately; it doesn’t use a sweep account to centralize the funds.
Yes. Suppliers will honor their buyers’ payments preferences. They don’t want to lose your business, and many prefer electronic because they’ll get paid faster than checks. Moreover, suppliers trust Vyteo. They can see all their payments online with VyteoConnect. And whenever they need support, Vyteo has a team ready to help. Per Patrick Lambert, Owner of Haul Gone LLC, “[Vyteo] customer service is Top Notch. [They’ve been] instrumental in helping us during initial set up and have been a great source of knowledge with our occasional queries. We are happy with VyteoConnect and give them a 5 Star rating.”---
While we’ve heard of some rare instances of suppliers raising rates, we know it’s not a widespread practice. Most simply consider any transaction fees they incur as a normal cost of doing business. Some Vyteo customers even make electronic payments – Vyteo Virtual Card and ACH – mandatory for their suppliers.
Vyteo has an industry leading self-service portal, VyteoConnect, where suppliers can easily check both invoice and payment details – at no cost. Vyteo customers report that calls and emails from suppliers decrease by about 75%, thanks to all the information available in the self-service portal.
Vyteo initiates payments to your suppliers as soon as you have approved them for disbursement. We don’t put them in set-aside accounts or charge interest. Secure electronic payments are in suppliers’ hands in just a few days. Check payments are mailed the following business day.