A more efficient way to reimburse employees
Like most businesses that cater to vacationers and business travelers, Sunriver Resort saw reduced revenues due to the COVID-19 pandemic. The temporary shock to its businesses led to leaner staffing in its accounting department, where the recovery has highlighted the need for greater efficiency in payment processes.
Transitioning from paper to digital
Sunriver Resort started looking for ways to use Zelle® payments after hearing about the network and its advantages from U.S. Bank, a Zelle Network® partner.
“We do all of our banking with U.S. Bank,” Peterson says. “Anything that is money related already goes through them, so it was only logical to partner with them on the Zelle® project.”
The Zelle Network® allows businesses to send money using only the recipient’s U.S. mobile phone number or email address. It eliminates the costs of printing and mailing checks and avoids the risks associated with collecting and storing payee bank account information needed to initiate the same payments through the Automated Clearing House (ACH) network. Zelle® would give Sunriver the ability to directly transmit funds from its bank account to the accounts of its employees and other recipients, making those funds instantly available.
The convenience factor
Peterson initially introduced Zelle® reimbursements as an option for department managers, who have travel expenses and receive reimbursements as often as twice a month. They’ve loved it, she says, particularly because a number have been working off property since the onset of the pandemic, and a digital payment option eliminates extra trips into the office. “Most of them have opted to receive Zelle® payments because it’s just so much easier.”
Work of the convenience of digital reimbursements has spread quickly. Peterson says the managers have been great spokespeople for Zelle® and she’s begun offering this alternative to check payments to the rest of Sunriver’s employees.
In 2021, Sunriver replaced more than $50,000 in check payments with Zelle® digital transactions, Peterson says. That’s just a small portion of the company’s total reimbursement payments, and Peterson plans to continue to promote Zelle® adoption. “I’d like to see all of our employees on it.”
Keeping payments secure
The ability to avoid storing sensitive information on Sunriver’s own services – which the company would have to do if it made electronic payments via ACH – has been a major plus from a risk management perspective. “While we haven’t had a major security event, our move to Zelle® was preventative against such an occasion,” Peterson says. That was a very compelling benefit that led us to consider Zelle®.”
A streamlined payments solution
With Zelle®, Sunriver has increased the efficiency of its employee expense reimbursement payment process, and the business has started migrating Zelle® benefits to other types of payments.
“As an A/P person, I love Zelle®,” Peterson says. “It’s such an easy tool to use. I prepare the batch, get it approved online by our executives, send it over to the bank, and the payment is immediately deposited into the recipient’s account. I don’t have to worry about storing payees’ personal information, and I know our IT and security people like that, too.”
For more information about Zelle® and other payment innovation options, check out this overview from the treasury management team at U.S. Bank.