Case Study: Amherst College modernizes AP, converts $40M to electronic payments with Finexio

100% of AP payment processingwas taken off Amherst's plate

Amherst College, a private liberal arts college with about 1,800 students and a large endowment, needed to modernize its finance operations after identifying accounts payable and paper checks as areas ripe for efficiency and savings. To address this, Amherst engaged Finexio and its AP-Payments-as-a-Service to streamline supplier payments and reduce manual AP work.

Finexio took over AP payments and used concierge supplier enablement to convert suppliers to electronic payments (virtual card, E-Pay, and ACH), freeing Amherst’s finance team to focus on higher-value tasks. The Finexio solution delivered measurable impact: $49k in combined financial benefit in the first 12 months (annualized from the first seven months), $40m of newly converted electronic spend in year one, and 60% of electronic payments coming from revenue-generating virtual cards.

Amherst College

Kevin Weinman

Chief Financial Officer