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May 20 – 22, 2018 | Orlando, FL The Role of Commercial Card in a Dynamic Payment Environment Adam Keck | AVP, Product Development Manager Allison Laramore | VP, Payables Specialist
May 20 – 22, 2018 | Orlando, FL
The Role of Commercial Card in a Dynamic Payment Environment
Adam Keck | AVP, Product Development ManagerAllison Laramore | VP, Payables Specialist
May 20 – 22, 2018 | Orlando, FL
Agenda
Introductions
2 Market Landscape
3 Impact of Process Ditigization
4 Relationship Between Card and Alternative Payment Channels
5 Dynamic Supplier Enablement
1
6 Q & A
May 20 – 22, 2018 | Orlando, FL
Your Presenters:
Adam Keck | Assistant Vice President, Product Development ManagerAdam Keck is a Product Development Manager for the Bank. Adam has been with Fifth Third for7 years and has spent the last 4 in Product Development. In the past 4 years, Adam has led the inception, design and launch of several Payables products including, most recently, Expert AP. Products launched have incorporated the following components: Invoice Digitization, Dynamic Discounting, Commercial Card, ACH and Check Outsource.
Allison Laramore | Vice President, Payables SpecialistAllison Laramore is a Payables Specialist for the Bank. Allison helps clients find flexible solutions to solve for a variety of Payables challenges. Allison is responsible for analysis of AP files and solution consulting to ensure clients exceed their AP process goals. Allison has been with Fifth Third for 23 years. The last 17 years in Treasury Management, Allison has worked with a variety of industries and companies of all sizes. Allison was an original member of the Strategic Account Management team, which is solely dedicated to optimizing Fifth Third’s Commercial Card portfolio.
Introductions | Welcome!
May 20 – 22, 2018 | Orlando, FL
Who is Fifth Third Bank?Our Size and Strength
▪ Fifth Third Bancorp (“Fifth Third”) is a diversified financial services company headquartered in Cincinnati, Ohio, in 1858
▪ Fifth Third has $142B in assets, we are the 17th
largest bank in the U.S.
▪ We operate 4 main businesses: Commercial Banking, Branch Banking, Consumer Lending, Wealth & Asset Management
▪ We operate 1,154 full-service banking centers
▪ Third largest MasterCard issuer in the U.S.
Introductions | Welcome!
May 20 – 22, 2018 | Orlando, FL
Evolving payable solutions to solve clients’ AP challenges
©Copyright 2016 Bottomline Technologies, Inc. All rights reserved. Bottomline Technologies, the BT logo and Paymode-X are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions.
Fifth Third Solution Advancements
Rolled oute-Pay virtual card solution
Launched as a Paymode-X bank channel partner
Launched new banking portal Fifth Third Direct
Became an equity investor in Fintech AvidXchange
Rolling out new AP solution to market
May 20 – 22, 2018 | Orlando, FL
Sources: 1. 2016 AFP Electronic Payments Survey.
AP automation has come a long way, but there are still obstacles to realizing the greatest benefits
51%of all U.S. B2B payments
are still made via checks
Spend
Dollars Converted
to Commercial
Card
= Rebate
What Banks Talk About Today
May 20 – 22, 2018 | Orlando, FL
Migrating to electronic payments and invoice processes can result in significant savings and reduced fraud
74%of companies experienced actual orattempted check fraud1
Reduce fraud risk; $22The cost for traditional
check payments and manual invoice is
$9The cost for electronic
payments and invoice is
$13Based on average costs can yield a
per-transaction cost savings2&3
Sources: 1) Mercator, The US Commercial Card Market, 2017.2) Ardent Partners, State of B2B Payments: Emerging
Business Value “Strategies for Success” (2015)3) RPMG Survey, EAP Study, 2015
Economics & Reason to Act
May 20 – 22, 2018 | Orlando, FL
74% of companies experience actual or attempted check fraud
Sources: 1) Mercator, The US Commercial Card Market, 2017.
Process Beyond the Payment$
ManualInvoice Handling
Lack of Approval Workflow
Accounting System Integration
Disputes, Audits, Late Payments
MaintainingSupplierInformation
May 20 – 22, 2018 | Orlando, FL
Streamlined process by outsourcing many tasks
Invoice digitization improves supplier enablement by:
▪ Increased visibility into invoice status▪ Eliminate/reduce late payments
AFTER | Integration with Fifth Third Expert AP
New AP Process
▪ Ability to accept discounts and pay faster▪ Improved relationship with suppliers
May 20 – 22, 2018 | Orlando, FL
Lack of a holistic strategy stifles automation & efficiency
Card Related to Other Payment Types
Check Outsource
ACH Network
Virtual CardBank
Fintech A
Fintech B
BuyerVirtual card
ACH network
Outsourced check
Supplier
Supplier
Supplier
May 20 – 22, 2018 | Orlando, FL
Drive efficiency without compromising card adoption
Card Related to Other Payment Types
Strategic Partner
BuyerVirtual card
ACH network
Outsourced check
Supplier
Supplier
SupplierCheck Outsource
ACH Network
Virtual Card
May 20 – 22, 2018 | Orlando, FL12
Value of ERP ConnectivityMulti-product implementation timeline
What if it could be different?
Spend company resources and effort on growing adoption, not building files
Virtual Card
ACH Network
Check Outsource
Virtual Card Check OutsourceACH Network
ERP Adapter
Reduce time to market Realize rebate fasterReduce client IT development
Mo 1 Mo 2 Mo 3 Mo 4 Mo 5 Mo 6 Mo 7 Mo 8 Mo 9 Mo 10 Mo 11 Mo 12
May 20 – 22, 2018 | Orlando, FL
A Framework for Success |
Dynamic Enablement
▪ Review supplier file results and information
▪ Discuss supplier segementation
▪ Ensure goals for enablement are aligned
File AnalysisPreferred Payment Method
Just-In-Time (JIT) Enablement
NetworkEffort
On-going Enablement
▪ Not all suppliers are created equal
▪ Determine Supplier centric solutions
▪ Supplier centric approach to enablement
▪ Calling with payment in hand
▪ Value of pooled spend
▪ Maximize benefit of supplier relationships
▪ Refresh AP file analysis regularly
▪ Re-campaign
▪ Monitor and track supplier participation on a regular rhythm
May 20 – 22, 2018 | Orlando, FL
Optimized payments with better data and control for both you and your suppliers
Suppliers
▪ Streamlined process reduces manual tasks and provides more control
▪ Optimized payments mix positivelyimpacts your bottom line
▪ Increased information flows support enhanced visibility into payables activity
▪ Eliminate managing supplier payment preference
▪ Flexible options to receive payments that work best for the organization andincrease working capital
▪ Improved reconciliation from enhanced data provided with payments
▪ Increased visibility and removes uncertainty of invoice status and payments via an online portal
▪ Save time and resources required to follow up on payments
Buyers
Buyer & Supplier Benefits
May 20 – 22, 2018 | Orlando, FL
Q & A
May 20 – 22, 2018 | Orlando, FL
Adam KeckProduct Development Manager
Fifth Third Bank
580 Walnut Street
Cincinnati, Ohio 45202
Tel. 513.534.2581
Allison LaramorePayables Specialist
Fifth Third Bank
580 Walnut Street
Cincinnati, Ohio 45202
Tel. 513.534.0577
Contact Information
