The Background

Located in Florida, one of the top ten largest public school systems in the United States sought to optimize its payables functions to offset nearly $3 billion in annual expenses. Educating over 270,000 students across 320 schools and educational centers, the school system faced exceptionally high operational costs, particularly for electricity. To help cover some of these expenses, they aimed to implement a virtual card program to earn rebates.

The Solution

REPAY leveraged its vendor implementation service to address the school system’s concerns, helping them optimize and simplify payments to their vendors, including the electricity provider.

Unlike traditional bank programs, REPAY offered a customized solution that met the school system’s critical payment flow and efficiency criteria.

The Results

REPAY beat out other major banks to win the school system’s business. REPAY’s dedicated implementation team helped them start processing payments just ten days after signing the contract, sending over $50 million in electronic payments, including virtual cards and ACH.

• Over $750,000 in annualized rebates, paid monthly
• Elimination of 8,000 paper checks
• No implementation costs or ongoing support fees

The school system has been impressed with the REPAY solution and additional
revenue stream. New vendors are continuously added to the process for
further rebate increases.