How a fast-growing pharmaceutical manufacturer ditched the paper chase to gain speed and savings
In this case study, read how Nephron and Fifth Third Bank partnered to increase efficiencies, reduce expenses and expand payment acceptance methods for suppliers.
Streamlining the supplier payment process with enhanced options
South Carolina-based pharmaceutical company Nephron wanted to move from paper checks to using commercial cards – with the goals of reducing their fees and expanding supplier payment options. The Fifth Third team determined that a pairing of traditional commercial cards and ePay was the best solutions to help improve Nephron’s AP efficiency and acceptance. With the launch of these paired solutions, Nephron’s overall ePay program is expected to grow by 44% from its first year to the present through strong supplier enrollment and the company’s continued growth.
"Fifth Third has been a great partner for us in every sense of the word. The additional revenue from this program has been pivotal to our pandemic response. These incremental funds enabled us to launch a CLIA-certified facility to provide COVID-19 testing for our community and offer other on-site services, including free barbers and childcare for our employees when schools closed. We now even create the ‘Big Check’ every year to celebrate and promote it!"
– Lou Kennedy, Nephron CEO
With Fifth Third’s ePay, companies can:
- Improve cash flow
- Streamline end-to-end payment processes
- Reduce costs
- Increase payment mix
- Increase defenses against fraud
- Strengthen supplier relationships
- Integrate electronic payments into your existing processes
- Reduce or avoid per-transaction fees