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Allmar CFO

Since 1957, Allmar has become Canada’s largest supplier of door and hardware solutions for the commercial, industrial, institutional and residential markets. Spread across 13 locations between B.C. and Ontario, Allmar’s service team of over 300 highly knowledgeable and experienced employees, including many Architectural Hardware Consults (AHCs), meet customers’ design, consulting, installation and service needs specializing in everything from hollow metal doors and frames, wood doors, locksets, door operators, lockers and washroom accessories. Paul Porco oversees all the numbers as the Company’s Chief Financial Officer.

Deflating a Bloated System

It used to take Allmar about eight time-consuming steps to pay a vendor, says Paul. From producing reports, to getting signatures, to stuffing envelopes, to mailing cheques, it went on and on.

The effect was wasted time and money. Sometimes not all cheque signers were available. Sometimes cheques would get lost and need to be replaced. There was always the risk of fraudulent cash chequing. The cost of paper and postage are always going up. Plus, the company could rarely cash in on early payment discounts.

It was an unsustainable system in a digital world, and the Company knew it was time to move on.

“We believed there were efficiencies, greater security and cost reductions to be obtained by an electronic payment solution,” he says.

Less Time, More Discounts

The Allmar Team found Telpay after a few months of research. It quickly made their lives easier, says Paul.

For one, they don’t have to spend all of that time and money on bank reconciliations and paper cheques anymore. For another, Telpay allows them to request services and guarantee payment within a business day or two.

That quick turnaround also means that they’ve been taking advantage of those early payment discounts — to the tune of a 22.7% increase, says Paul. Also, that’s without increasing accounts payable resources.

Today the company makes about 95% of its payments via Telpay.

 

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LOCATION:
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario

CUSTOMER SINCE:
2016

WHAT WE USE TELPAY FOR:
Vendor Payments

WHY WE SWITCHED TO ELECTRONIC PAYMENTS:
“We believed there were efficiencies, greater security and cost reductions to be obtained by an electronic solution.” – Paul Porco