Dallas, TX, June 20, 2023 - Boost Payment Solutions, a New York-based B2B payments fintech leader, has announced an exciting partnership with OneSource Virtual, Inc., a prominent provider of services, solutions, and products for Workday customers.
This innovative collaboration aims to transform B2B payments, leveraging OneSource Virtual's newly-launched solution, Invoice Pay, with the multi-patented straight-through processing (STP) Boost Intercept® solution. The resulting fully automated, risk-free supplier payment experience will convert Invoice Pay virtual cards to passive acceptance, eliminating the need for manual data entry, reducing the risk of fraud, and enhancing cost-efficiency.
Since 2008, OneSource Virtual has built a reputation in the B2B community through its flagship services, processing over $165 billion in payroll services for over 700 Workday customers yearly. Through the partnership, OneSource Virtual is empowering its customers to strengthen their supplier relationships, significantly reducing the friction typically associated with procure-to-pay payments.
The partnership brings numerous benefits, including automated payment processing, ensuring funds are deposited directly into suppliers' accounts. Boost will also provide top-level security for all transactions, eliminating exposure to sensitive card data and introducing automated remittance reporting, simplifying reconciliation.
Moreover, the partnership stands out as the only in-tenant solution in the Workday ecosystem and introduces additional digital payment options for OSV customers. It also highlights OSV's commitment to continuously recruit on behalf of their Invoice Pay customers and provide exceptional customer service and support. This formal partnership also allows for faster, seamless integration, since customers won't need to purchase new software, manage integrations, or install equipment.
John Bax, Chief Financial Officer of OneSource Virtual, comments “This partnership allows OSV to cement our position as the only viable in-tenant solution for Workday Financial Management customers. With the increased vendor matching and conversion rates from layering on the Boost product, OSV will significantly increase the number of rebates and benefits for customers utilizing our Invoice Pay service, part of our complete AP Automation solution for Workday customers.”
Seth Goodman, Chief Revenue Officer of Boost Payment Solutions, comments, “OneSource is an innovation leader that Boost is thrilled to partner with to provide our technology and expertise for their OneSource Virtual Card customers. Together, we are creating a fully passive acceptance experience, reducing friction and strengthening customer-supplier relationships. This partnership aligns perfectly with our mission to simplify B2B payments and enhance payment experiences across all industries.”
About OneSource Virtual
OneSource Virtual exists to help Workday customers thrive by boosting their capacity for growth through co-sourced HR and Finance and Accounting. Working across industries in North America and EMEA, OneSource Virtual’s teams offer their expertise and deep knowledge of Workday to deliver comprehensive solutions and services to over 850 BPaaS customers.