Refining Your Way to a Dramatically Enhanced AP Operation

MHC, a leading provider of intelligent document and payment automation SaaS solutions, has officially announced the launch of MHC NorthStar Payments Plus, which is geared towards fine-tuning the company’s comprehensive accounts payable (AP) platform. 

Under the given update, the stated platform can now tap into Paymode®, Bottomline’s trusted business payments network. Having such a network in place, you see, should make it possible for finance teams to streamline AP operations, reduce fraud risk, and at the same time, unlock new revenue through rebate-eligible transactions.

This, in turn, builds upon MHC’s Payments Plus’ existing ability to leverage a network of over 600,000 verified vendors, and therefore, process over $450 billion in annual transactions.

“We’re proud to partner with MHC to bring the benefits of Paymode to a broader range of enterprise finance teams,” said Gunita Bindra, VP Partner Strategy and Sales at Bottomline. “MHC’s expertise in automation and workflow integration makes them an ideal partner to extend the reach and impact of the Paymode business payments network.”

Talk about MHC’s updated solution on a slightly deeper level, we begin from the promise of advanced security. This translates to how users can come expecting multi-layered security, including multi-factor verification, OFAC screening, and continuous monitoring, so to deliver the highest level of payment protection.

Next up, there is the prospect of rebate-eligible transactions: These are basically premium ACH and virtual card payments that effectively generate monthly rebates to create a consistent return on AP spend.

“Our goal is to help finance teams do more than just manage payments—we want them to create value,” said Gina Armada, CEO of MHC.

Another detail worth a mention relates to how users can go live in a quick and seamless fashion. We get to say so because they can deploy this particular mechanism in as little as 30 days with minimal IT effort. 

Hold on, we still have a few bits left to unpack, considering we haven’t yet touched upon the prospect of enhanced data and visibility. You see, the updated solution’s rich remittance data should really go the distance to simplify reconciliation, improve cash flow insights, as well as cut processing time by over 50%.

Rounding up highlights would be an aspect focused on conceiving a unified workflow. As a result, users can manage approvals, execution, and payment tracking within the unified MHC NorthStar platform, something which should eliminate the need for multiple portals.

Now, we referred to how the relevant update builds upon MHC’s track record of managing network holding thousands different vendors, but what we haven’t mentioned yet is that it also complements existing MHC invoice-to-pay functionality, best-known for providing unmatched flexibility to meet unique and evolving AP needs.

This means users can enjoy, moving forward, immediate access to an established vendor payment network. Furthermore, they can shrink their reliance on costly manual processes.

Beyond that, you can also unlock new revenue streams through rebates and efficiency gains. 

“MHC NorthStar Payments Plus helps organizations modernize their AP operations with functionality that is not only secure and efficient but also delivers real financial returns,” said Armada. “By partnering with Bottomline, the leading name in B2B payments, and embedding the Paymode network, MHC delivers a secure, intuitive way to further simplify AP processes and strengthen financial operations. It’s a powerful combination when customers can do more with less – cutting costs while driving greater value.”