Case Study: RxSense achieves 62% increase in electronic payments and $50K savings with Finexio

Over 60% of all AP paymentswere switched to value-creating digital payments

RxSense, a pharmacy benefit manager, was spending significant time and money mailing tens of thousands of paper checks each year—staff spent over a dozen hours weekly sorting and stuffing envelopes—and existing bill pay providers and banks could not eliminate this inefficient manual process. They engaged Finexio to address their accounts payable challenges using Finexio’s business payment network and electronic payment solutions.

Finexio implemented a flexible payment program that offered suppliers a range of electronic options and terms, converting a majority of outbound payments from paper to electronic formats and shifting many ACH payments to revenue-generating virtual card payments. As a result, Finexio helped RxSense enroll over 60% of AP payments to electronic methods, achieve a 62% first-year increase in electronic payment adoption, realize $50k in savings from eliminating paper checks, and generate $31k in virtual card rebate revenue-share.

RxSense