With MutualPay Vendor Invoice Pay (VIP), Mutual of Omaha Bank offers a revolutionary client experience. It eliminates the manual work and creates an easy-to-use automated workflow, from invoice receipt through payment.
Processing vendor invoices is very time consuming – the invoice must be reviewed and verified for accuracy, routed to the correct person for approval, paid, and then entered into the accounts payable system. MutualPay VIP puts a stop to this manual, laborious task, and offers a total end-to-end solution that automates the entry of vendor invoices into the AP system.
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A virtual card is a single-use credit card that is transaction-specific to the exact amount of the invoice. Once a transaction is made, the virtual card becomes invalid -- reducing the risk of fraud.
Typical enrollment process into MutualPay VIP is six to eight weeks from date of signed contract.
MutualPay VIP is a revolutionary solution with features and tools not found elsewhere in the market.