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Katie Milligan

OPERATIONS MANAGER, AVIDPAY SERVICES TEAM

Becky Hughes

SENIOR DIRECTOR OF AVIDPAY SERVICES

©2016 PROPRIETARY AND CONFIDENTIAL

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AvidPay Services Overview

Getting Started With AvidPay Services

Vendor Adoption & Communication

Service Oriented Payment Delivery

How AvidXchange Is Investing in Your Service Delivery

Best Practices For A Great Experience

Q&A / Frequently Asked Questions

©2016 PROPRIETARY AND CONFIDENTIAL

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©2016 PROPRIETARY AND CONFIDENTIAL

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THE AVIDXCHANGE PAYMENT ECOSYSTEM

5500 +

AvidXchange

Customers

Connecting to

300K

Suppliers

in the AvidXchange

Payment Network

E-Paying

60K

Suppliers

2.8M

Small Businesses

in the U.S.

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GETTING STARTED WITH AVIDPAY SERVICES

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©2016 PROPRIETARY AND CONFIDENTIAL

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5K FOOT VIEW:

YOU BOUGHT AVIDPAY.. NOW WHAT?

The Deal

• Your AP Dept. has a

need & buys

AvidPay

• We offer an end to

end offering from

PO to Payment

Implementation

• System Setup

• Configuration

• User Education

Vendor

Adoption

• Buyer Education &

Letter Campaigns

Start

• Education on

AvidPay Services

Payment

Delivery Begins

• VCC, AvidPay

Direct, & Check

• 70% of VCC sent via

Pay4Us

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©2016 PROPRIETARY AND CONFIDENTIAL

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THE VENDOR / PAYMENT LIFECYCLE:

SIMPLIFIED

Purchase Order

• Req & Purchase Order • Approval & Delivery

Vendor

• Provides Good / Service • Invoice Submission

AvidBill Service

• Document Management • AvidInbox Data Indexing

Utility

• Detailed Utility Data • Reporting & Analysis

Invoice

• Approval Workflow • GL Coding & Reporting

Approved Invoices

Batched to Buyer

Accounting System

AvidPay

• Payment Processing • Approval & Reporting

Vendor

Conversion

• Education & Adoption • Account Management

Payment

Execution

• VCC Delivery Concierge • Escheatment & Controls

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©2016 PROPRIETARY AND CONFIDENTIAL

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GETTING STARTED – AVIDPAY PAYMENT TYPES

Virtual Credit Card (VCC)

A VCC is a one-time use MasterCard pre-loaded with the required funds needed to successfully process the payment you’ve uploaded into the AvidXchange system. Vendors accepting this form of payment need to be setup prior with their own merchant services

provider giving them the ability to process credit card transactions. The VCC provided for payment is essentially processed in the same fashion as a physical credit card using the vendor’s POS device or computer based program entered manually in lieu of swiping a

standard credit card.

AvidPay Direct - Enhanced Direct Deposit

AvidPay Direct is our enhanced payment option vendors can opt-in for should they not have the ability to process VCC payments and don’t want to await slower moving check payments. As files are uploaded containing payments to vendors within the AvidPay Direct Network, an enhanced direct deposit is pushed from the AvidXchange trust to the vendor’s specified bank account.

AvidPay Check

Paper checks are always available as a payment option for your vendors. Our AvidPay checks are issued from the AvidXchange trust account. For consistency AvidPay checks are formatted identically for all standard AvidPay clients, but do reference the client name for ease of application against the invoice.

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©2016 PROPRIETARY AND CONFIDENTIAL

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GETTING STARTED – PAYMENT METHOD COSTS

Payment Method

Fees

Virtual Credit Card (VCC)

NO fees assessed by AvidXchange!

*Vendors are assessed fees from their merchant services provider for accepting credit

card transactions

AvidPay Direct (APD)

Tiered fee structure:

1.55% of payment if under $10,000;

1.05% of payment if over $10,000 up to $25,000

*Fee capped at $25,000 per payment

AvidPay Check

NO fees assessed by AvidXchange!

*Vendors can be assessed fees from their depositing bank should a stop payment be

requested on a check issued through AvidPay

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VENDOR ADOPTION & COMMUNICATION

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VENDOR CONVERSION OVERVIEW

Process Fundamentals - The Basics

1. Vendor Discovery

• Occurs During Implementation & From Payment Files

• Strategic Campaigns Prior to Client Go Live

• Real Time Direct Calling While Payment in Flight – No Payments Ever Held!

2. Virtual Card Conversion

• 42% - 44% Vendor Organizations Adopt Virtual Card Receipt

• Widely Accepted Method, No Contract Required, Real Time Adoption

• Easiest Form of Acceptance, Cost Built Into Vendor Business Process

3. AvidPay Direct + PayNow

• Enhanced Direct Deposit Offers Detailed Remittance Receipt

• Targeted Strategies by Educated Account Specialists

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VENDOR CONVERSION OVERVIEW

Process Fundamentals – Virtual Card Communication Campaigns

Strategic Calling Campaigns

Letter Communication Campaign – 50% - 51%

Avg. Vendor Conversion

Direct Calling Campaigns – 42% - 43% Avg.

Vendor Conversion

Online Enrollment – 31% Avg. Vendor

Conversion

DID YOU KNOW?

Having an LOA on file mitigates vendor questions to your team by validating your relationship to our AvidPay Services.

Payments Are NEVER Held or Delayed From Being Processed During Vendor Communication

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VENDOR CONVERSION OVERVIEW

Process Fundamentals – Virtual Card Communication Campaigns

STRATEGIC CALLING CAMPAIGNS

Target Audience: High Spend / High Transaction Vendors

Method: Direct Calling + Letter Receipt

Timing: 2 Weeks Prior to Client Go Live

Purpose: Conversion + Education with Active Client Involvement

Key Learnings: High Likelihood of Electronic Options & High Likelihood of Volume Sensitivity

LETTER COMMUNICATION CAMPAIGN

– 50% - 51% Avg. Vendor Conversion

Target Audience: Standard Vendors, Different Versions if Known Vendor vs New Vendor

Method: Letter Mailing + Enrollment Form

Timing: 1 Week Prior to Client Go Live

Purpose: Conversion + Education with minimal Client Involvement

Proven Key Learnings: Highest Conversion Rate However Only 15%-17% of Vendors Respond to

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VENDOR CONVERSION OVERVIEW

Process Fundamentals – Virtual Card Communication Campaigns

DIRECT CALLING CAMPAIGNS

– 42% - 43% Avg. Vendor Conversion

Target Audience: Unknown Vendors Except Non-Adopting Industries (i.e. Banking, People,

Government, etc.)

Method: Direct Calling / JIT

Timing: Go Live & Forward

Purpose: Ongoing Vendor Discovery & Conversion

ONLINE ENROLLMENT

– 31% Avg. Vendor Conversion

Target Audience: Available to All Vendors

Method: Information Included in Letter Campaign

Timing: With Letter Campaign

Purpose: Conversion + Education

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VENDOR CONVERSION OVERVIEW

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AVIDPAY DIRECT PROGRAM OVERVIEW

Program Fundamentals – But What If Virtual Card Is Not An Option For The Vendor?

ENHANCED DIRECT DEPOSIT PROGRAM

Target Audience: Vendors who are unable or unwilling to accept Virtual Commercial Card

HOW DOES IT WORK?

Vendor Agreement: Vendor agrees to the service for all payments processed through

AvidXchange Network (client agnostic)

Payment Receipt: Vendor will receive funds deposited directly into their specified bank

account

PROGRAM COST

1.05% of the transaction amount

1.55% for “low dollar” transactions under $10,000

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AVIDPAY DIRECT PROGRAM OVERVIEW

Primary Program Value Propositions

Faster Payment:

Vendors receive immediate guaranteed funds vs. waiting on a check (5-7 days) resulting in

reduced collection, bounced check and dispute costs

“Rich” Remittance Data:

Receive electronic remittance data to properly apply payment to correct account

Lower Interchange Fees:

60% reduction in interchange fee compared to MasterCard, Visa, and American Express

Security:

Vendors do not have to provide bank account info to multiple customers

No setup, management, or maintenance required for additional Avid customers to use

Built-in Fraud Management: All transactions are monitored 24/7 by AvidXchange

AvidPay Direct transactions are only for a specific vendor and specific dollar amount

Utilize One of Your Customer’s Accepted Payment Methods: AvidPay Direct has been implemented by known

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VENDOR ENROLLMENT – HOW WE SUCCEED!

Data Verification & Quality Assurance

During the enrollment process conversation the below data points are a sample of over 30 data points collected and verified to ensure payment processing accuracy:

• Vendor Company Name • Vendor Company Address

• Vendor Contact Information (email and/or phone) • Vendor Payment Method Options

• Vendor Payment Method Preference • Vendor Payment Method Selection • Credit Card Processing Fees

• Credit Card Processing Transaction Limits • Best Ways to Make Payment

• Email Address for W9 Request (E-Vendors)

DATA

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VENDOR ENROLLMENT – HOW WE SUCCEED!

Data Verification & Quality Assurance

The AvidPay Services team uses extensive quality assurance methods to

confirm our high service level expectations are being met. Below are a few of

the tactics utilized:

Written communication templates

Promotes accuracy and uniformity in messaging and positioning

Conversational scripts

Maintains enrollment representative alignment and consistency when verbally

enrolling vendors

Call monitoring and recording software

Crucial for maintaining industry leading performance standards

Continuing education and training

Keeps our representatives fully informed on product and service updates to

better serve our vendor database

QUALITY

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SERVICE ORIENTED PAYMENT DELIVERY

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PAYMENT DELIVERY OVERVIEW

Process Fundamentals - The Basics

Day 1

• AvidXchange initiates an ACH Debit for payments approved by

3pm EST

Day 2

• VCCs available to vendor

• AvidPay Checks mailed

Day 3

• AvidPay Direct funds available in vendor's bank account

Life

Cycle

Payment

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PAYMENT CREATION TIMELINE AND DELIVERY:

VIRTUAL CREDIT CARDS

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• Batch Received via AvidPay by 3 PM EST • AvidPay Initiates

ACH Debit from Client Bank Account

Day 1

• VCC information available to Vendor • Vendor contacted by Email or a Payment Specialist

Day 2

• If the VCC isn’t

authorized by day 10, a check is sent for the payment

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PAYMENT CREATION TIMELINE AND DELIVERY:

VIRTUAL CREDIT CARDS

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• Remittance Email vs.

Specialist Delivery

• How do we reach out?

• Remittance Rich Email

Delivery

• Storing Vendor Contact

information

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PAYMENT CREATION TIMELINE AND DELIVERY:

AVIDPAY DIRECT

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• Batch Received via AvidPay by 3 PM EST

• AvidPay Initiates ACH Debit from Client Bank Account

Day 1

• APD Payment Initiated to Vendor Bank Account

Day 2

• Funds Available in

Vendor Account • Detailed E-mail

Remittance Sent

Day 3

• Bill detail is sent to vendor by Treasury Team • APD Fee Initiated

via ACH Debit on Vendor’s Account

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PAYMENT CREATION TIMELINE AND DELIVERY:

AVIDPAY DIRECT

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PAYMENT CREATION TIMELINE AND DELIVERY:

AVIDPAY CHECKS

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• Batch Received via AvidPay by 3 PM EST • AvidPay Initiates ACH Debit from Client Bank Account

Day 1

• AvidPay Checks mailed to Vendor from Florida or Oregon

Day 2

• 1stfollow-up with

UTILITY vendor

Day 14

• 1stfollow-up with NON-UTILITY vendor

Day 21

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PAYMENT CREATION TIMELINE AND DELIVERY:

AVIDPAY CHECKS

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• Utility vs. Non-Utility

Vendor Follow-Up

• What do we verify?

 Address

 Invoice

• Follow-Up Procedure

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CHECK MAILING TIMELINES

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Destination

Estimated Mail Time

Local

3-5 business days

Mid U.S.

7 business days

Coast to Coast

8-11 business days

Alaska & Hawaii

6-16 business days

Jacksonville, FL

Beaverton, OR

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AVIDPAY CONTROLS

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AvidPay Controls

Purpose

VCC Aging

Total review of all VCC payments in an unauthorized state. Used to monitor and drive timely payment execution and follow up.

Check Aging

Total review of all outstanding check payments. Used to identify checks ready for follow up.

Encashment Audit

Verifies intended recipient of VCC versus the merchant responsible for processing payment. Ensures expected vendor is processing payment.

Funds Discrepancy Audit

Confirms VCC payments are being processed in full, including fees if any, in accordance with payment upload.

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IMPORTANT SERVICE TIMELINES

Service Area

Timeline Expectation

VCC Check - Conversion due to vendor non-processing Direct email delivery – 10 calendar days from VCC availability

Payment Specialist delivery – 24hrs from being informed by vendor of non-acceptance Support Case - Preliminary Response Normal Cases – 24-48 Hours

Urgent Cases – 12-24 Hours

Proof of Payment - Support Case Required Proof of payment is typically provided within 24-48 hours *Contingent upon the type and number of payments involved*

Stop Payment Reissue – Support Case Required Per our standard practice - Stopping payment to void or reissue typically can take 3-5 business days. Timeframe varies as determined by volume, internal approval workflow required, and

approval deadlines.

Stop Payment/Void Refund – Support Case Required Per our standard practice – Payments refunded in full/partial typically arrive within 3-5 business days. The refund line item should appear on your statement from ‘Old North State Trust.’

Timeframe varies as determined by volume, internal approval workflow required, and approval deadlines.

Payment Exception – Client Response Required If the AvidPay Services Team requires assistance to process a payment, 3 client contact attempts via email will be initiated over a 10 business day period. If no response is given, the payment will be refunded and voided in the system.

*As a best practice, we highly recommend responding to payment research requests within 24-48 hours to ensure timely payment processing*

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CLIENT CONTACT – PAYMENT EXCEPTIONS

**Important Note**- This email address is only to be used for outbound information/approval requests specific to the payment(s) involved. All inquiries outside of what is requested from the

research email must be submitted to support@AvidXchange.com.

Below are the most common requests:

Additional Information

 Invoice/Account number, Unique pin/identifier

 Federal Tax ID

Vendor contact information (should we be unable to reach

vendor with current information or vendor is unresponsive)

Refund Approval  Full Refund

 Partial Refund

Address Change Approval

 Vendor requests check payment to be sent to different

address

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Example

Template

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AVIDXCHANGE SUPPORT

AvidPay Services Support – Contact Information

Clients:

 Email us! –support@AvidXchange.com

 Call us! – (704) 971-8170

Vendors:

 Email us! –supplier@AvidXchange.com

 Call us! – (704) 971-8174

AvidPay Services Hours of Operation

 Email – 8am-5pm EST

 Phone – 8am-5pm EST

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Best practices when contacting AvidPay Services Support:

• In your subject line include keywords for your request – Examples:

Proof of Payment

Payment Status

Void/Refund Payment

Overnight payment

• Include as much detail as possible about payment: • Check/payment number

Vendor Name

Invoice number

Amount

• If possible, send a screenshot from your portal!

**Important Note** -AvidXchange support teams prioritize all incoming cases on a best effort basis. However, we do realize certain requests have more impact on your daily operations and need to be treated with a higher sense of urgency. If you

have any urgent matters in regards to expediting payments, canceling payments, disconnection issues etc. please include

an indicator in your case email subject line such as ‘Critical, Urgent, Shutoff, Disconnection’ to help our team better prioritize your case!

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A SNIPPET OF OUR GROWING ECOSYSTEM

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RECORD BREAKING YEAR OVER YEAR GROWTH

Vendor Ecosystem

0 20,000 40,000 60,000 80,000 100,000 120,000 140,000

Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16

Electronic Payment Transaction Growth

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016

Virtual Credit Card 83%

AvidPay Direct 330%

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-20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000

Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16

Electronic Program Vendor Growth

RECORD BREAKING YEAR OVER YEAR GROWTH

Vendor Ecosystem

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016

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E-PAYMENT ADOPTION BY INDUSTRY

0% 10% 20% 30% 40% 50% 60% 70% 47% 34% 63% 39% 49% 42% 67% 54% 13% 44% 23% 54%

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INVESTING IN BEST-IN-CLASS SERVICES

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Q&A

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HTTPS://WWW.SURVEYMONKEY.COM/R/AVIDPAYSERVICES

Let us know what you thought about this session.

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