Press Release: E&I Cooperative Services & PaymentWorks Announce New Agreement for Secure Vendor Management
Partnership Expands Affordable Access to Secure Vendor Management in an Era of Remote Work
by Angela Sarno
VP Marketing
PaymentWorksFebruary 4, 2021, Waltham, MA and Jericho, NY- PaymentWorks and E&I Cooperative Services (E&I) recently launched a competitively solicited lead public agency (LPA) contract for supplier information management (SIM) systems. This agreement creates an avenue for E&I members in higher education and K-12 to implement secure, repeatable, transparent vendor onboarding and relationship management.
PaymentWorks’ unique business identity platform automates the complex payee management process and eliminates the risk of business payments fraud by helping organizations make the critical shift to digital payments and secure their operations from external threats while safeguarding against existing manually intensive and error-prone processes.
“We have long championed management of the vendor master as the key to payment security,” said Taylor Nemeth, VP, Strategy for PaymentWorks. “With higher education and school systems prime targets for fraudsters— even before COVID-era workplace interruptions— we know E&I members are attuned to the risks they are facing with vendor management every day.”
Through this contract, E&I members can take advantage of several important benefits including automated verifications, ensuring compliance and Uniform Guidance, easy interfacing with any ERP system, fraud prevention, and competitive E&I member pricing.
“We are pleased to offer our members the comprehensive services available through PaymentWorks, while also delivering expertise on vendor management and the associated compliance and payments risks,” said Judy Schaffer, Vice President, General Products & Services at E&I.
For more information about the PaymentWorks E&I contract, visit: https://www.eandi.org/contracts/paymentworks/.
About PaymentWorks
PaymentWorks and our company’s Business Identity Platform eliminates the risk of business-payments fraud, which costs U.S. businesses more than $20 billion a year. By automating a complex, manual, people-intensive, and error-prone payment process, PaymentWorks protects organizations such as Hackensack Meridian Health, Johns Hopkins and University of Kentucky from business payments fraud and ensures regulatory compliance. To learn more about how we do it and the partners we work with, visit our website, check out our blog or listen to our podcast series, “PaymentWorks Presents Risky Business”.
About E&I Cooperative Services
E&I Cooperative Services (E&I) is the only member-owned, non-profit procurement cooperative focused exclusively on higher education. E&I delivers unsurpassed value to members through a broad portfolio of competitively solicited contracts, technology-enabled procurement solutions, and consultative engagements. The Cooperative’s strategic spend assessments enable members to make informed, analytics-driven decisions to capture more spend. By working together with industry-leading suppliers, E&I provides an exceptional member experience. For more information, please visit www.eandi.org.
