Canisius College has successfully partnered with M&T Bank to launch an important initiative that will reduce college costs by making more vendor payments by credit card rather than by paper check.
We have identified a list of suppliers to target for this initiative and we will soon begin reaching out to them about this program. This initiative is important and we need your support to be successful. We encourage you to promote the benefits of credit card payments to those suppliers with whom you interact, as well as with any new suppliers that you engage. Please direct suppliers to Dennis Misko, x8226 firstname.lastname@example.org or Gary Lew, x2255 email@example.com for questions and enrollment support.
Key benefits that Canisius College receives are:
- Reduced costs from a streamlined payment process
- Enhanced controls and compliance
- Improved cash management
Key benefits our suppliers receive from accepting Visa payments by Canisius College may include:
- Accelerated payments
- Improved cash flow
- Strengthened trading partner relationship
Payment Process Changes
The current processes for purchase requisitions and invoices will remain the same. The only change will be to the payment process. With the new payment process, our suppliers will receive an email notification for each payment instructing them how to obtain the credit card number, the amount to process and other pertinent details of the transaction.
What you need to do:
For the VISA Accounts Payable Initiative to be successful, vendors’ invoices must be approved for payment without delay. Therefore, vendor invoices sent to your department must be entered into BANNER, approved for payment and returned to the Controller’s Office for payment processing within five business days after receipt.
For more information on this initiative, please contact firstname.lastname@example.org or email@example.com
Submitted by: Gary Lew, senior facilities operations manager, facilities management