Case Study: Phoenix Stamping achieves 75% fewer check payments and a 63% reduction in AP time with Finexio

77% of Phoenix Stamping’s spendmoved to digital payment methods

Phoenix Stamping, a manufacturer of metal products serving trailer, automotive, material handling and agricultural industries, faced an antiquated accounts payable process that relied on weekly physical check runs. AP and finance staff had to be co-located to prepare checks, the company president had to sign every check, and the process consumed a full day each week and significant paper, postage and labor costs. They engaged Finexio to modernize their payments through payment automation and supplier onboarding.

Finexio delivered white-glove service and seamless onboarding, becoming an extension of Phoenix Stamping’s team and taking over AP payments to free up staff time. As a result, Phoenix Stamping moved the majority of check spend to digital methods, achieved a 75% reduction in invoices paid by check, a 63% reduction in time spent on AP payments, and now pays 22% of invoices via virtual card—cutting costs and improving work-life balance for staff.

Phoenix Stamping

Daniel Condon

Chief Financial Officer