CPS Case Study – Broward County Schools

Broward County Schools Electronic Payments

Key Features
Monthly Cash Rebate
▪ Submit consolidated remittances for your suppliers electronically
▪ Leverage existing vendor pay cycle (terms)
▪ Secure payments through one
time use feature (exact payment amount)
▪ Reduced AP costs
▪ Reduce financial risk and enhance financial controls
▪ Implementation in 2 weeks or less
 
Issue Solved
Broward County Schools, with $2.7B in expenses, requested proposals seeking responses from vendors to provide a virtual/merchant card payment solution. The payment of one (1) particular utility vendor, Florida Power & Light (FPL), was especially critical in the selection process.

 
Solution Overview
CPS e-Payable solutions enables organizations to automate the disbursement of their vendor payables through the use of one-time use virtual cards. By replacing checks, organizations are able to generate significant revenue on payments made to vendors and eliminate the cost of the check printing and processing.
 
Outcomes and Benefits

▪ Through successfully addressing the FPL payments, CPS produces approximately $750,000 in rebate for Broward County Schools on an annualized basis, paid monthly.
▪ Cost reduction in payment processing both in labor and check costs.
▪ No cost for implementation or ongoing support fees

Solution Description

CPS leveraged it’s Pay4You service to address Florida Power and Light and to successfully
work with them for Broward County School Payments.

CPS’ service works taking a simple payment file from your AP module enabling your
company to pay expenses with a single-use virtual MasterCard. CPS generally uses prebuilt code to quickly implement the service and began providing rebates and cost savings
to the District within weeks.

The implementation of a virtual/merchant payment solution assisted the District in
improving process efficiencies and reducing administrative costs, as well as the benefit of a
monthly rebate.

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