Comerica Helps Manufacturer Improve Efficiency and Security

At a busy Michigan manufacturing company, the accounts payable team was processing hundreds of paper checks each month. Then, the team made a troubling discovery: Fraudsters were creating fake checks and altering payee names to steal funds. Meanwhile, their lean payables team was working hard to stay on top of an ever growing workload. But manually reviewing exceptions and managing Positive Pay alerts was becoming increasingly costly and inefficient. That’s when the company reached out to Comerica to find a safer, more efficient way forward.

Comerica takes a closer look
Comerica’s Treasury Management Officer, Joyce Conley, made it a priority to understand the company’s payables process from start to finish. Conley sat down with the accounts payable team to review how payments were being managed on a day-to-day basis. She began by evaluating the fraud prevention measures already in place. Positive Pay with Payee Match, a proven solution for catching altered or counterfeit checks, was active and functioning correctly, flagging suspicious transactions and giving the team a chance to review each one. The system was working as designed.

But Conley didn’t stop there. She dug deeper and saw the bigger issue: More than 700 checks were processed each month. Not only was this creating opportunities for fraud, but it was also straining the payables team and driving up operational costs through exception reviews, alerts and manual labor.

Conley identified an opportunity to modernize the company’s payables process in a way that would improve efficiency and strengthen security at the same time. Paper checks, she explained, were leaving the business vulnerable and consuming resources unnecessarily, and there were better options available to help the team work smarter and more securely.

Building the right solution together
With the key issues identified, Conley brought in the full Comerica team to help craft the best path forward. She collaborated with their Relationship Manager Dave Zablocki and Comerica Card Consultant Lisa Williams to evaluate all available options and present a comprehensive solution to the manufacturer.

At the heart of their proposal was Comerica’s Integrated Payables Web (IPW), a flexible platform that would allow the company to automate and streamline payments through ACH, virtual credit cards, wire transfers and even checks, all managed from a single, secure system.

The team outlined how Integrated Payables Web could significantly reduce the company’s reliance on paper checks, lowering the risk of fraud while easing the workload on the payables staff. Virtual credit cards, in particular, offered an attractive incentive: By moving vendors to card payments, the company could earn revenue share, helping offset fees and further improving their bottom line.

To help make the decision easier, Williams conducted a vendor match analysis to identify which of the company’s existing suppliers already accepted card payments.

The Comerica team also addressed credit capacity, working with the company to increase spend and credit limits to accommodate the higher volume of electronic payments. And by walking through the full fee schedule and pro forma, they ensured the company had a clear picture of the expected savings and benefits.

Comerica stayed engaged through the year-end holidays, continuing to follow up and answer questions even as decisions slowed during the busy season. That level of support paid off. By late January, leadership was ready to move forward to capitalize on the benefits.

Results that make a difference
The Michigan manufacturer committed to implementing Integrated Payables Web — a decision that immediately began to pay off. With Comerica’s support, the company reduced its reliance on paper checks, cutting down fraud exposure and streamlining operations for its lean payables team.

The transition to virtual cards opened up a card revenue share, helping to offset costs and improve margins. Additionally, automating and consolidating payment processes through Integrated Payables Web saved time and freed up the team to focus on higher-value work.

Just as importantly, the company gained confidence knowing its fraud controls were stronger, its processes more efficient and its cash flow better managed.

The Comerica team’s expertise and collaboration turned a troubling challenge with significant risks into a smart, sustainable solution. One that will continue to benefit the company for years to come.

The right payables solution for your business
Ready to see how Comerica can help your business streamline payables and reduce risk? Contact your Comerica Treasury Management representative today to get started.