FAMU saves $200,000 through new ePayables system

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A recent report submitted to the Governance Committee of the Florida A&M University Board of Trustees stated that the school saved $200,000 in the fiscal year ending in 2017 by implementing ePayables with Bank of America.

According to the report, the “Bank of America ePayables virtual card solution 1 converted our paper checks to a more efficient and cost effective electronic payments process.” It added that the change “reduced materials, labor, and overall cost associated with disbursing payments.”

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