FirstBank & Trust
Streamline Your AP Process

An alternative payment solution to checks, EAP provides a streamlined and secure process which reduces costs and can generate significant revenue.

Managing cash flow is the most critical metric for business success. A key element to consider when effectively managing cash flow is accounts payable. The amount you owe others is just as important as the amount they owe you. A valuable tool helping businesses achieve positive cash flow is Electronic Accounts Payable or EAP.
 

What is EAP?

An alternative payment solution to checks and ACH, EAP provides a streamlined and secure process which reduces costs and can generate significant revenue. With EAP, businesses can pay invoices for goods and services directly from a payment file generated from an existing accounting system. The essence of EAP is a dynamically-adjustable spending limit that is assigned to match the amount of each transaction. Therefore, after the transaction is completed, there is no available line of credit on the account.
 

Benefits of EAP

EAP reduces the cost and financial risk associated with check payment activity. Depending on when a payment is made, EAP can significantly improve working capital by increasing float, the length of time between the date a purchase occurs and the date the payment is made. EAP reduces financial risk associated with plastic cards as the account numbers are typically tied to a credit limit designed to support a single transaction, rather than multiple. Plus, with organizational demand for specific transaction data, an EAP transaction can satisfy whatever data requirements are needed. In the case of single-use cards, the card numbers themselves can be matched to purchase order numbers to facilitate easier transaction reconciliation.
 

By the Numbers

Conducted every three years by RPMG, the EAP survey shows a significant increase in growth, utilization, spend and more.

EAP Benchmark Survey Results

Watch our quick video to learn more!

When clicking on links within the video, you will be linking to another website not owned or operated by FirstBank & Trust. FirstBank & Trust is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. We encourage you to review their privacy and security policies which may differ from FirstBank & Trust.

 

 

EAP Value to Respondents