Efficient, Easy to Use, Third Party Payer
Use Cases and Deployment Scope
Nvoicepay is currently being used solely by the Fiscal department. Being that the Fiscal department supports the entire organization with and the purchases made across the organization, it gets heavy use from our small team. It allows us to operate as a lean team because we have a third party who is able to take care of the processing of payments to vendors. All we have to do is upload our expenses the Nvoicepay portal and they take care of the rest.
Pros
- Nvoicepay's biggest strength is the simplicity of taking care of our transactions. Once we have booked our transactions in our accounting system, we simply download the transactions and upload them directly to the Nvoicepay portal.
- Nvoicepay takes care of nearly everything on the payment side. Nvoicepay will reach out to vendor's on our behalf and figure out which payment method will best benefit our organization within our payment structure. If a vendor excepts ACH and Credit Cards, Novicepay will automatically use the payment method that will cost us less on our monthly processing bill.
- Novicepay customer service is amazing. I don't recall a time when I've ever waited on hold or never received an answer to my question. Perhaps the best part of the customer service is the follow-ups with the resolutions provided. It seems as though most vendors are done with you as soon as you hang up the phone, however, Nvoicepay does not rest until they have provided an adequate solution to YOUR problem.
Cons
- Perhaps the most frustrating part of Nvoicepay is the reporting. Simply working through the filtering to find a transaction in the history is extremely difficult. If you don't select the filters in the correct order you will typically find zero results.
- The formatting for the upload is also a little tricky. Since you are uploading an excel file, any zip codes with leading zeros typically have the zeros removed and result in a failed upload. So having to place an apostrophe in front of any leading zeros is kind of pain especially when you have 100 plus lines of transactions.
- The main dashboard is also something to be desired. I understand the concept of providing the dashboard, but what use is it if I can't dig in and see what the numbers and graphs are made of? If Nvoicepay was able to hyperlink to the transactions that make up each category it would make the dashboard far more useful.
Likelihood to Recommend
Nvoicepay is super helpful for organizations that want to run lean and have a lot of accounts payable going out each day/week/month. The cost of having Nvoicepay vs having an employee process payments for each of our vendors is a massive cost savings. I believe it would be less appropriate for organizations that are only sending a few payments each month or have a lot of recurring payments instead of unique bills each month. Recurring payments are easily booked and memorized in most accounting systems and setting up autopay takes care of having to actually make the transaction manually.
