Bay Colony Community Association Payment Process Transformation

This case study details the transformation of the payment process at Bay Colony Community Association, a property management company located in Naples, FL. The association historically relied on paper checks for supplier payments, averaging 75-100 checks per week, which led to issues such as lost or damaged checks and check fraud. To address these challenges, they adopted Edenred Pay, an automated accounts payable solution. The implementation was seamless, integrating with their existing accounting software, Northstar. The transition to virtual card payments has significantly reduced the number of in-house checks processed and streamlined the accounts payable process, allowing the accounting team to focus on other areas. Since the launch of the program in mid-2016, Bay Colony has converted approximately 40% of their invoices to virtual credit cards, resulting in $48,000 in additional revenue from rebates on these transactions. The case study highlights the efficiency and security improvements achieved through this payment solution.