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Fall 2011

Jeff Felser 

A Note from Jeff Felser

PNC's Treasury Management group is always looking for new ways to help you manage your working capital. From collection and disbursement solutions to information reporting, our industry-leading services are designed to cut costs and increase efficiency.

That's why we're so excited to introduce A/P Advantage, the latest in invoice automation technology from PNC. A/P Advantage centrally receives and scans all the invoices you receive, systematically capturing all relevant invoice data you need for approval and payment. It eliminates manual data entry, streamlines the routing and approval process, and allows for greater visibility into accounts payable activities. Best of all, it works with your current Accounts Payable process. There's no new hardware required.

Invoice Automation is also good for the environment. It provides suppliers an online portal to submit invoices directly into the system, eliminating paper from the process.

This truly is an exciting new product, because it allows you to experience the benefits of a more automated Accounts Payable process. We look forward to helping you streamline your process and achieve your goals.

Jeff Felser
Senior Vice President

CUSTOMER SURVEY
Overcoming key challenges to streamlining the invoice process
PNC recently surveyed its Payables Advisory Board to see what areas of the payment process they would like to see addressed and invoice processing was identified as a primary area for improvement with several key challenges.
Learn More

PRODUCT SPOTLIGHT: Benefits of A/P Advantage
Achieve significant savings through invoice automation
As a PNC commercial card customer, you realize the significant time and cost savings that using a payment card can provide. With A/P Advantage, the latest innovation from PNC, you can take the next step in fully automating the front end of your payment process.
Learn More

Watch the demo to see how A/P Advantage helps you streamline invoice processing.

INSIGHTS FROM VISA
Optimize your Accounts Payable process with integrated payment data
One of the key benefits of converting to an electronic-based AP platform is rich, enhanced reporting capabilities. With more sophisticated data, including invoice-level transaction detail, you can significantly reduce labor costs and increase your organization's visibility.
Learn More 

QUICK TIP
Use purchasing cards to decrease invoice volume.
Increasing the percentage of transactions processed on purchasing cards is an easy way to reduce overall invoice volume ... and eliminate unnecessary routing and follow-up work.

ACHIEVEMENT IN NUMBERS
Save up to $4.86 per invoice with A/P Advantage.
A recent study found that the processing cost per paper invoice was $7.99, compared to just $3.13 per electronic invoice.*

Mark Your Calendars!

Please join Visa for an update on IRS Information Reporting requirements for 2011, 2012 and 2013 as they apply to cardholders.  Rules for filing Forms 1099-MISC and imposing backup withholding, B and Penalty Notices, as well as TIPRA (3% withholding) will be reviewed. Linda McGee of Visa's Commercial Information Management team and Paula Porpilia of TIN Compliance Consultants will provide an update on these regulations and how they impact you and your reporting to the IRS over the next few years. 

Three identical sessions will be held. Webinar details are below and registration is required.

IRS Compliance Rules Webinar: Option 1
Date: Friday, November 18, 2011
Time: 11am PT / 1pm CT / 2pm ET
Duration: 1 Hour

IRS Compliance Rules Webinar: Option 2
Date: Monday, November 28, 2011
Time: 11am PT / 1pm CT / 2pm ET
Duration: 1 Hour

IRS Compliance Rules Webinar: Option 3
Date: Thursday, December 1, 2011
Time: 11am PT / 1pm CT / 2pm ET
Duration: 1 Hour

Please visit our registration website to sign up for any of these sessions. Once the host approves your registration, you will receive a confirmation email with instructions for joining the session.

* Hackett Accounts Payable Performance Study, 2009.
PNC® is a registered mark of The PNC Financial Services Group, Inc. ("PNC") Banking and lending products and services and bank deposit products are provided by PNC Bank, National Association, a wholly-owned subsidiary of PNC and Member FDIC. Lending products and services, including card services, as well as certain other banking products and services, require credit approval.

No part of this publication may be reprinted without written permission. This newsletter provides general information only and should not be relied upon as specific legal, tax or accounting advice or recommendations.

Visa® is a registered trademark of Visa USA Inc.

©2011 The PNC Financial Services Group, Inc. All rights reserved.