Houston Baptist University Significantly Improves Cash Flow, Thanks to Electronic Payables System from Inworks
Inworks’ full-service ePayables program provides important financial benefits bank cards don’t offer
Portland, Ore, October 13, 2014
Inworks® a Portland, Oregon-based financial services company specializing in revenue-generating AP strategies for higher education and healthcare institutions, announced that its client, Houston Baptist University, has cut administrative costs and improved its days cash on hand, through the use of the company’s Strategic AP® program.
Houston Baptist chose the Inworks Strategic AP program to automate and streamline invoice payment processing for the school.
According to Sam Webb, Director of Accounting at Houston Baptist University: “We considered several bank credit card programs, and ultimately went with the Inworks solution because it was the only one that could help us generate rebate income as well as improve cash on hand, as needed.”
Full Service with No Upfront Costs
Inworks quickly installed the electronic system at no upfront cost to the university. Inworks managed all supplier communication and onboarding, which not only saved the school significant time but also maximized supplier participation by accessing Inworks’ extensive supplier network. The automated system significantly increased payment processing efficiency, reducing administrative time and costs and eliminating errors. It also helped Houston Baptist meet its cash improvement goals.
“Inworks’ supplier enrollment support has given us participation results beyond our Expectations,” Webb said. “Maximizing supplier participation has been the key to our ability to generate rebate income.”
Supplier Enrollment is Double the Industry Average
The Inworks Intelligent Pay electronic payment platform achieves more than twice the industry average for supplier participation. By offering the industry’s broadest range of customized e-pay methods, Inworks enables its clients to meet each of their supplier’s specific payment requirements. These payment methods include ACH, credit card, and the Inworks Connect® private network, which provides a complete range of services for secure electronic payment and remittance, in addition to early pay options.
Inworks also helps increase supplier participation by managing supplier communication and onboarding for its customers. The company’s electronic Supplier Enrollment Center offers new suppliers an easy and convenient sign-up process.
Inworks is headed by healthcare, banking and business and accounting professionals, and is founded on more than 30 years of electronic transactions expertise. The company’s Web-based payment solutions provide a highly secure and reliable vehicle for electronic transactions and allow hospitals and healthcare systems to maximize their working capital while building stronger relationships with their suppliers.
About Houston Baptist University
The Houston Baptist University is a Christian liberal arts institution dedicated to the development of moral character, the enrichment of spiritual lives, and the perpetuation of growth in Christian ideals. It has a total enrollment of approximately 2,600 students and is listed among the top 10 most diverse US colleges by BestColleges.com.