Corpay One Review

Corpay One is an effortless billing solution for small businesses that creates resilient accounts and allows owners to focus on growing the business. It’s also free to use.

Financial integrity is the foundation of any business, it’s what allows you to acquire investment and improve your bottom line, but many small businesses lose out by paying high fees to accountants or spending too much time on financials when they could be growing the business.

There are many software solutions for financial management, but few are as focused and flexible as Corpay One, which is a bill-paying software solution that is subscription-free. Simply automate your invoices and vendor fees with Corpay One and let it run in the background.

While there are a host of benefits to using Corpay One for your small business, there are a few downsides such as useability and software glitches. In this review, we take a look at Corpay One to help small businesses decide if an innovative bill-paying SaaS solution is right for them.

What is Corpay One?

If you are a small business interacting with vendors regularly you need software to ensure your accounts are in order and there is an adequate audit trail.

Without a software solution, you might pay too much for an accountant or spend more time than necessary working on your accounts.

Corpay One is a software solution for accounting that helps to streamline your workflow patterns, increase your productivity, and ensure your accounts are present and correct at the end of the tax year. What’s more, Corpay One is a subscription-free service, so it’s free to use.

How Does Corpay One Work?

Corpay One is bill-paying software for small businesses, it allows you to organize all of your billing processes in a single location and make regular payments efficiently. Not only that, the software uses AI technology to identify payments and create invoices that can be pre-approved.

Corpay One is free to use, all you have to do is visit the website and sign up for an account, you can then learn the platform using the knowledge base or communicating with your onboarding agent. Corpay One is secured using high-level encryption, data trails, and security features.

Corpay One Pricing

Unlike most software solutions Corpay One doesn’t have a subscription service, instead, it’s free to use from the start and earns money by charging percentage transaction fees. There is no monthly or annual fee to pay to use Corpay One, and you can cancel the service at any time.

That said, you need to understand what the fees are and how much you can expect to pay for particular services. If you use the Corpay Mastercard you can expect a 1.4% fee on transaction amounts and a 2.9% fee for checks via the credit card. Expect a fee of $9.50 for wire transfers.

Corpay One Features

Scanning

Accounting is the engine room of your business, so much counts on it that you need to make sure it is accurate and reliable, but at the same time it pays to take care of your financial processes faster and with less labor. That’s where Corpay automation comes in, like Scanning.

Corpay Scanning provides a fast and reliable scanning service that processes previous data and remembers important details like dates, amounts, and vendors. The software then manages this data and plans forward so you don’t have to worry about recurring payments being issued.

Bill Pay

Regardless of your business size, you have bills to pay, these can range from premises costs to infrastructure, machinery, or network co sts. Nowadays, businesses also have subscription fees to pay for software products integral to the success of the business. Bill Pay automates bills.

Bill Pay incorporates a range of different features to deliver a bill payment solution that is effortless and reliable. Corpay lets you automate the bill-paying process and saves you time which increases your productivity. Also, customize how you pay and reduce transaction fees.

Work Flows

These days, better workflow patterns mean more automation. Almost every part of the business can be automated with a software solution and accounting is no exception. Forget about coding or specialist accounting knowledge, Corpay, has a simple and effective solution for streamlining.

Corpay software has internal controls that allow you to route expenses to relevant departments for approval, put your bills on autopay, and trigger actions using keywords in documents. Of course, all of this can be pre-programmed so you can feel confident about your billing process.

Audit Trail

Whether it’s for your internal records or the tax authorities, businesses need to have transparent financial accounts and understand where money is being used. Instead of investing in an external audit service once or twice a year, you can use Corpay software to create an audit trail.

Corpay’s audit trail can keep track of every interaction a team member makes, so whether they are transacting with a vendor or paying a bill the software records it and files it away in a suitable location. When it comes to the end of the tax year all accounts are present and correct.

Document Match

If you want to keep your financials tight then you could benefit from Corpay’s document match. Too often, end-of-year finances is misaligned because some transactions don’t have accompanying documents; but with Corpay, any accompanying documents are listed with bills.

Corpay software uses language recognition technology to find and match transactions with their counterparts. For instance, the software allows you to import your bank statement as a . CSV file and matches any relevant business transactions you’ve had, missing data is also be logged.

Mobile App

Nowadays, it’s not enough to have a desktop application when so many of our business interactions occur via smartphone, this is something the designer at Corpay recognized when developing the software and creating an accompanying mobile app. The app is fully integrated.

Whether you want to keep track of your receipts, approvals, or payments, on the go, you can do this with the Corpay mobile app. Simply download the app to your smartphone and log in using your Corpay account detail. Wherever you are you can check business financials conveniently.

Custom Lists

Custom Lists are invaluable when working with AI software, they help to tailor the AI solution so you achieve better outcomes. With Corpay One you can import your data from accounting software or input it manually into your Corpay One database, to create more accurate results.

Not only does Corpay One allow you to use custom lists to refine your business accounts, but it also gives you the capability of creating new custom lists and choosing suitable documents for them. Custom lists on Corpay One can be modified to suit any business or financial interaction.

Advanced Settings

Chances are your internal teams are varied and have different permissions when it comes to financial interactions. The last thing you want is for your accounts to be compromised by a team member without the proper permissions. For this reason, Corpay One has advanced settings.

With Corpay One you can assign special permissions to different team members so that you can always be sure your financial management is secure and correct. Not only that, Corpay One gives you the flexibility to hide certain custom lists where appropriate to avoid any inaccuracies.

Vendor Management

Whether you are buying or selling managing your interactions with vendors is crucial for your accounting integrity. Corpay One software keeps everything under control by configuring how payments are made and keeping an eye on payment-related reporting so you don’t have to.

Vendor management helps businesses to control their costs, minimize risks, and deliver a better service to customers. Corpay One software allows you to manage your vendor interactions efficiently so that you don’t have to worry about billing processes, or accounts management.

Corpay One Pros

• User Friendly: Whether you need to design a workflow pattern for an individual team member or the company as a whole, Corpay One facilitates this easily. Using custom fields and advanced permissions, Corpay One gives you amazing flexibility and autonomy over your accounting processes. Everything is customizable and intuitive to learn for most professionals.
• Account management: Everything is user-friendly on Corpay One software, whether you need to set up new payments, contact vendors about billing, or organize your accounts for end-of-year taxes, the software allows you to accomplish tasks in just a few clicks. Not only does this help to streamline workflow patterns: it also builds more productivity in the business.
• Workflows: Save time and frustration by using Corpay One for your financial management, it also improves workflow patterns and boosts productivity levels. The scanning feature, for instance, reduces the time needed to draw up accurate invoices, and you can pay vendors faster using an automated payment system. Corpay One helps to streamline your business.

Corpay One Cons

• Update Issues: When it comes to updates with Corpay One there are some pros and cons. On the plus side, there are regular updates from Corpay One to improve the software, but the downside is that updates are not always debugged leading to some technical issues. If you encounter update issues you can contact the Corpay One help desk for information and advice.
• Some Delays: While Corpay One has the capability to update and report financial transactions between your company and vendors, there might be a slight delay in notification updates. While this can be frustrating at times – especially if you need fast access to transaction data – the system updates eventually, so if you run financials in the background it won’t make a difference.
• Learning Curve: Corpay One software is user-friendly and intuitive, but that’s not everyone’s experience. If you have some experience with accounting or automation software the dashboard might look familiar to you, but for those that don’t, Corpay One can be confusing and frustrating. Some people report a steep learning curve with lots of research on the knowledge base.

Final Thoughts

Overall Corpay One proves to be an innovative and sensible billing solution for small businesses. If you want to create accurate invoices that have documents matched for tax purposes, and set up payment processes that are accurate and secure, Corpay One is perfect.

Another excellent reason to invest in Corpay One for your business is the subscription-free payment model. Unlike most SaaS solutions, Corpay One doesn’t have a free trial, instead, the software is free to use and you only pay for certain transactions. Another reason to give it try.

Corpay One FAQs

Does it have customer support?

Yes, some people report that Corpay One has a steep learning curve, and while it’s user-friendly in the end, getting there can be a challenge. However, the technical assistance at Corpay One is also excellent, you will be assigned a Corpay One agent to help you onboard your company and you can benefit from instant chat support and a help center that’s stocked with information.

Can I cancel Corpay One?

Corpay One is a subscription-free service that you can cancel anytime. This might seem unusual for a software solution but Corpay One earns money from transaction fees and rates. Sign up to Corpay One for free and try it out, there is no obligation to use it and you will not be charged for keeping your account active. Simply delete your account if you no longer need it.

Is Corpay One secure?

Corpay One takes treats financial security as a high priority and uses a range of specialist features to protect your company’s finances and integrity. The Corpay One platform uses programs to detect money laundering and fraud, it also has automatic bill detection and audit trails that detail every transaction. Additionally, you can set special permissions for teams.

Does Corpay One have fees?

Again, Corpay One uses a left-field pricing model that avoids charging monthly fees or additional fees for extra clients. If you are an accountant there are no additional fees to pay and you can onboard as many clients as you wish without any charges. Instead, Corpay One has a range of percentage fees for transactions that you incur based on how you use the accounting software.