COVID and Business Continuity

COVID and Business Continuity

The last six months have been tough on accounts receivable and payable departments. Most of these departments were operating in an office environment and the speed of COVID shutdowns caught many off-guard.

Paying and processing invoices is not glamorous, but it is a necessary business function.  COVID has forced many enterprises to consider B2B supplier invoice payments as a high priority within their business continuity planning efforts.

B2B Managed Payment Service

Typical credit card payment programs are not the answer.  Automating or digitizing a portion of accounts payable is not enough anymore.  And no enterprise has the time or inclination to implement a new software system.  The most common-sense approach is to use a managed B2B supplier payment service.

Sometimes referred to as an integrated payment solution, a managed payment service can make sure that 100% of your suppliers are paid on-time, accurately, and securely (using all payment methods, card products, ACH/EFT, checks etc.).

And the best solutions are easy to implement, require no AP process changes, and generate revenue for you.  No capital expense, no operating expense required.  Lucrotec fits this description.  But to be successful, there is one critical success factor – supplier acceptance.  The solution MUST be supplier friendly.

Supplier Friendly is the Key

Enterprises have tried bank card programs, and some have used integrated payment providers, seeking to digitize their B2B supplier payments – hoping to generate significant card rebates.  These programs have been a disappointment for many enterprises.

The top two reasons are the added manual work (for the AP team and especially the supplier AR team) and the resulting low adoption rate from suppliers (resulting in low rebate revenue). These old solutions are simply NOT supplier friendly.

Lucrotec entered the industry to address these disappointments.  Our relentless focus on eliminating supplier obstacles to payment acceptance has resulted in the highest adoption rates in the industry for card payments, while our commitment to managed service automation has eliminated the extra work for AP and AR departments.

We meet your suppliers where they are today and adapt our solution to fit their requirements. This is the first and only solution to focus on the supplier – creating a win-win and resulting in high card acceptance and high rebates.


Request a full briefing on how you can succeed with Lucrotec during these unprecedented times.