Centime Pays YOU to Automate Your Accounts Payable Process

In today’s competitive business environment, every dollar counts. For finance teams, finding ways to optimize cash flow and reduce costs is crucial. But what if your Accounts Payable function could actually generate income? With Centime, this is not just a possibility but a reality.

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The missed opportunity in AP:‍

Most AP bank accounts are non-interest-bearing, meaning valuable funds sit idle without generating any income. This is a missed opportunity for many businesses. Traditional AP processes focus on managing vendor payments efficiently, but they often overlook the potential for generating financial returns on the funds held in AP accounts.

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Centime solution:

Centime offers a groundbreaking solution: an AP bank account that earns interest on deposits. By simply maintaining a target balance, businesses can turn their AP function into a profit center. This innovative approach allows businesses to leverage their existing vendor payments to generate additional income, offsetting costs and boosting working capital.

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Example calculation:

Let’s consider a business with an annual AP volume of 900 invoices and an estimated AP spend of $3.6 million. By maintaining $300,000 in the AP bank account, the business can earn $12,750 annually at a 4.25% interest rate. This not only covers the $4,500 Centime AP subscription cost for this volume of invoices but also provides a net gain of $8,250.

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Here’s the breakdown:

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Annual AP volume: 900 invoices

Average payment per invoice: $4,000

Annual AP Spend: $3.6 million

Monthly AP bank account balance: $300,000

Interest rate: 4.25% APY*

Annual Interest Earnings: $12,750

Centime Annual AP Subscription Cost: $4,500

Net Gain: $8,250

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Benefits:

By adopting Centime, businesses can:

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Earn interest on AP float: Transform idle funds into a source of income.
Offset the cost of AP subscription: Use interest earnings to cover Centime AP subscription costs, effectively making the software free.
Transform your AP into a profit center: Enjoy a best-of-breed AP automation solution at no cost and generate a new revenue stream.

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Ready to turn your AP function into a profit center? Schedule a meeting with our team to learn more about Centime and how we can transform your finance operations today.

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**Deposit placement through ICS is subject to the terms, conditions, and disclosures in the applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC.

^††3.5% Annual Percentage Yield (APY) as of 11/19/24. Deposit rate may adjust to current market rate and may change daily. Fees may reduce earnings.

*Centime is not a bank and is not authorized by any federal or state agency to engage directly in core banking activities.
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*All banking products and services available through Centime are provided by FNBO and are governed by the applicable agreements and related disclosures provided to you by FNBO. Member FDIC.
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‍*While Centime facilitates traditional banking activities (such as the acceptance of deposits or extensions of credit), these services are actually provided by our banking partner, FNBO.
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*Centime may provide support services to FNBO, as permitted by applicable law, to facilitate the delivery of its bank products and services.

**Deposit placement through ICS is subject to the terms, conditions, and disclosures in the applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network bank

Centime Pays YOU to Automate Your Accounts Payable Process

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