Vizant is a business intelligence and thought leadership firm with a specialty expertise in the areas of financial operations, treasury management and inbound and outbound business payments. Vizant partners with its clients to implement actionable and real world solutions that improve efficiencies and reduce the structural costs of financial operations, treasury management and business payment functions. Vizant’s business model is truly unique and it stands alone in the world of financial and professional services firms. We stand behind our solutions with a 100% performance based fee model that clearly validates our expertise.

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Brief Overview

Technical Know-How Inbound and Outbound Payments

Vizant and its team of professionals are uniquely qualified in all aspects of inbound and outbound payments

Vizant is a thought leader, expert and advisory services specialist, operating as the only independent player in all facets of the payments industry. We never view any payment system, payment method, payment technology or payment type in a silo, but rather as an integrated part of your entire payments environment. Any existing or new payment technology, payment method, or monetary value transfer channel/platform must seamlessly fit into the business operations, systems, processes and financial requirements of an organization.

Vizant is recognized as the leading independent expert in the world of business and consumer payments.

The ecosystem of the payments industry is complex and daunting for even the most sophisticated organizations

There are thousands of services and technology providers in the payments industry, many of which are interrelated and co-dependent of each other. These providers are connected to a legacy payments system that creates inefficiencies and imbalanced marketplaces. This makes it very difficult for any organization to clearly identify both the most efficient pathway as well as the true cost of accepting, managing, controlling and processing inbound payments.

Every payment method, payment type, payment device and payment application must have two (2) very important attributes in common

All inbound and outbound payments must utilize one of the six core legacy payment systems to actually transfer monetary value AND every payment method and payment type has a cost that is absorbed by the payment accepting organization. These six (6) payment systems are as follows: cash system, check system, credit card system, debit/prepaid card system, ACH system and the wire transfer system. These six (6) systems handle nearly every transaction and every payment dollar that is ever initiated and received, 24/7. They operate as the ‘payment rails’ on which every payment ‘must ride’, even the newest payment technologies such as ApplePay and other current and still emerging mobile and alternative payment applications.

New payment systems, new payment technologies, and alternative payment methods are emerging rapidly

New payment alternatives will continue to emerge in the marketplace. With the continued development of new methods for the transfer of monetary value, an expert and independent perspective is absolutely critical for any organization to avoid missteps in integrating them into their payments environment. Some of the newer payment options that have recently evolved may appear innovative on the surface, but they all still use the same old legacy systems and they all have costs attached to them that must be incurred by someone.

Inbound and outbound payments drive our economic engine

At the most basic level, a payment describes the transfer of some type of monetary value sent from one party and received by another party for goods or services rendered. Millions of Payments occur every second in our economy. They are at the core of business and consumers’ lives. Payments take many shapes, such as: business payments, consumer payments, bill payments, government vendor payments, income payments, e-commerce transaction payments, point of service payments and many other categories of payments.

Inbound and outbound payments encompass a multitude of payment methods and options

Every organization must offer its customers both flexibility and options as to how they can make a payment.  Inbound payments cover a range of multiple payment types, payment methods and payment channels and can be initiated and received in many ways. Inbound payments include: ACH transactions, e-checks, payment cards, wire transfers, EFT, paper checks or even traditional cash. Inbound payments can be made online, in person, on the telephone as well as via payment devices and payment applications such as: ApplePay, MasterPass, Android Pay, Samsung Pay, Chase Payt, PayPal, BillMeLater, VISA Checkout and many other alternative payment options.

Organizations (payers) process outbound payments to a wide range of payees: businesses, consumers, customers, employees, vendors, government, and a long list of other payees. The nature of the costs and efficiency of these many disbursement types is unique to every organization. Outbound payments and funds disbursements must integrate into the business operations, systems, processes and financial requirements of an organization.

Every payment system, payment type and payment method has its own unique cost structure

Every organization has unique inbound and outbound payment acceptance, handling, management, disbursement and processing environments. For organizations of all types and of all sizes, the efficiency of their inbound and outbound payments processes and functions, and most importantly, the associated costs of these payments, varies widely.

The direct costs and efficiency of payments are much more complicated than they appear on the surface

The direct costs and associated efficiency of payments vary widely by company and are impacted by many variables, including but not limited to: industry, organization size, internal payment systems, external systems, processes and procedures, payment methods, payment types, staffing levels, staffing knowledge and a whole host of factors.

While businesses generally have some idea of the direct costs associated with payments, it is the unknown, hidden and indirect costs that really drive the total and true costs of these payments. The timing, efficiency and cost of every outbound payment must be properly aligned with a company’s overall financial and working capital goals.

Payment methods, payment processes and the timing of payments must align with an organization’s overall financial goals. Vizant’s expertise and approach to the assessment of payments is based on some very important and intertwined factors: the payment processes and systems, the direct cost of the payments, the timing of the payments and the overall efficiency of the payments. We never evaluate payments in a silo.

At Vizant, our payments know-how is applied on a customized basis to each of our clients. We know that the different types of inbound and outbound payments often require a dissimilar approach to delivering efficiency and cost reduction to the table.

Vizant is laser-focused on all aspects of payments; including but not limited to: proper alignment of payment types and payment methods to our client’s operating environment, maximizing every component of their payments operations and ensuring they attain the greatestoptimal as well as  lowest possible cost to accept, manage, disburse and process every type of payment.

Vizant’s thought-leading perspectives and advisory services lead and drive the direction of the payments and treasury industry. The foundation of our business is centered around independent advocacy for our clients.

Objective expertise is extremely rare in the payments industry. At Vizant, it’s at the very nature of who we are and is always standard operating procedure.

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