Preferred Popcorn, which is a large farmer-owned popcorn producer headquartered in Nebraska, averages over 200 check payments per month. To increase efficiency in the payments process and have more control over their payment cycle, Preferred Popcorn worked with FNBO to implement an automated accounts payable solution.
Before implementing the payments automation solution Payables+, Preferred Popcorn was using their accounting software to determine when payments needed to be made and then initiated a check run in the system. Employees would then manually print checks on site, have them signed, mail them, record the payment in their accounting software and send a positive pay file to FNBO. This manual process was cumbersome for employees to complete and it made it difficult for Preferred Popcorn staff to track and make payments on time.
Because payments were being made via paper check, the company was losing out on early pay discounts and the benefits of using card payments, like rebates. Paper checks also exposed the company to potential payment fraud due to the lack of security associated with check payments.
Seeking a better way to manage the payment lifecycle, Preferred Popcorn turned to FNBO for advice and help on implementing a more efficient system.