I use Deluxe Payment Exchange+ to pay vendors that are not part of our regular payables cycle.
Deluxe Payment Exchange+ is good for vendors that you use only on occasion. Smaller type businesses.
We use the system to process checks from customers. The system is easy to use, and allows us to make updates to the information scanned in. We are also able to flag certain types of payments so that we can review for processing.
for low-mid volume, check deposits this program works well.
We use this product for our lockbox and eLockbox needs. Our paper checks are mailed and processed by Deluxe and our electronic payments are processed through them, as well. We receive many paper checks as many of our customers are older and still write checks for their bills. We also receive a lot of electronic bill payments since we do not accept ACH payments ourselves.
Deluxe works great for us as we have a decent number of payments that go through them. I believe it would not be efficient for a smaller company who did not receive a lot of checks or electronic payments. Our volume warrants outsourcing of payment processing as it saves us a lot of time in-house. I would weigh the costs of the service against the time and payroll it costs your company.
We use for sending and receiving electronic check payments. Also it has helped us in streamlining the payment processing and also reduced the payment errors. The cash flow management tool has simplified our internal process and it helps us in many ways to make decisions. The real time tracking tool is more beneficial for us as we have certain large payments to be made to vendors to which we can track.
It is well suited for the organization who have frequent bill payments. It is speedy and more secured. It is less appropriate for organizations who have less volume as it can be expensive for the organization. Many features are not useful for the organization who have less volume. The benefit of using the software is that it accepts various different payment methods.
Deluxe Payment Exchange+ has been a game changer for our organization. It gives us the ability to issue a check and have it signed by our CEO when she is traveling - and the processing time is awesome. Once the check is uploaded in Deluxe Payment Exchange+ and the CEO has reviewed it and the back up and signed the check it is immediately delivered to the payee via email!
We use it to process payments for vendors who do not have ACH functionality. We prepare the eCheck and our CEO can sign the check electronically as long as she has cell service. We don't have to wait on her to return to the office. And once the check is signed it is either emailed directly to the vendor or we have it emailed to our CFO who prints the check and mails it to the vendor.
Our organisation has been using this for just over a year and our accounts and sales team find it very useful. It allows more flexibility on how we do things and definitely find it very useful. Very handy for mobile payments and allows us to explore the likes of bitcoin transactions going forward.
It allows for greater and faster flexibility of payments types.
Very handy for automatic payments. Very handy for small business users too allowing you to set up automatic payments without the need to employ more accounting staff than you really need or allowing vendors/ sole traders to setup payments themselves.
We started using Deluxe Payment Exchange+ when a customer had presented it to us for payment. There are multiple avenues for receiving payments, which is nice. I always prefer the lowest or no fees if at all possible. Honestly, I was kind of skeptical about printing our a check on regular paper but I have had absolutely NO issues with this fee-free method.
I would definitely recommend Deluxe Payment Exchange+. We have been very happy with it and the speed with which we get paid. Printing out a check instantaneously or getting paid electronically are both fast and easy to perform. One of the only drawbacks is the login. It is the type that send you a link so you have to leave the webpage, go to your email and click a link which opens up a whole new tab/webpage. Kind of annoying but easy to overlook when getting paid is so quick.