Bank of America to help Boston Med go paperless

Wednesday, 03 June 2009 13:11

(PRNewswire) — Bank of America announced today that Boston Medical Center has chosen the company to transform a significant portion of the hospital's accounts payable paper checks into electronic payments. Based on the bank's experience managing a vendor network of nearly 75,000 suppliers, Bank of America estimates that Boston Medical Center will convert 67 percent of its paper checks to electronic payments within the first six months. "We were looking for a payments solution that would help us quickly go paperless and at the same time reduce significant costs," said Ron Bartlett, chief financial officer of Boston Medical Center. In order to help BMC migrate payments from paper to electronic, Bank of America will employ its Comprehensive Payables software, enabling Boston Medical Center and its vendors to reduce payment-processing costs associated with paper checks.