Global Supplier Payments
Our mass payments methods
Using an automated system for mass global payments is the key to streamlining your Accounts Payable department. Not only can such a system reduce errors and headaches tied to traditional paperwork, it will ensure your suppliers get paid on time. Ultimately, automated global payments processing will strengthen your relationship with suppliers.
If you run a large company that must make thousands of payments, you will improve the quality of your business with an automation-based payment system. The software lets you schedule payments, determine payment method and type of currency. Imagine expanding your business to a global level while working with suppliers around the world. Using global payments systems simplify paying in over a hundred different currencies.
The system gives you enterprise-grade controls along with built-in compliance screening. At one time the cost of managing this data may have prevented many businesses from venturing into global operation. But now this massive global payments solution can be accomplished in a matter of clicks. This global supplier payments system eliminates all the extra phone calls to verify payments that AP personnel had to handle in the old days of manual paper processing and snail mail.
Easy Global Payments
One of the major problems with doing Accounts Payable manually is that it can lead to various types of errors and supplier disputes. Automation takes this human error out of the equation. The system incorporates thousands of banking rules that prevent payment errors. The days of accountants accidentally issuing duplicate checks or miscalculating exchange rates for different currencies are over if you embrace this solution.
Essentially, it allows you to save time on tedious and redundant tasks while giving your employees other work to prioritize.
You simply upload payment instructions and the automation platform does the rest. As long as you integrate your ERP with this solution, you will have more payment capabilities than ever before using less staff members. This solution also gives you access to various preferred payment methods based on what your business partners select in their self-service supplier portals.
Global Payment Methods & Convenient Configuration Options
The system is integrated with OFAC and SDN databases to screen transactions to ensure payees have not been blacklisted. This process prevents payouts to suspicious entities who may be fraudulently gaming your system. Furthermore, the system keeps logs on all transaction activity for auditing purposes. Since suppliers have access to the system as well, they can research their own payment history through their portal, which reduces and resolves payment disputes.
If you want to take the pain out of global payments online, you need an automated solution that pays your suppliers on time accurately. If you’re tired of the clutter generated from supplier faxes and emails about payment inquiries, it’s time to go for the accelerated solution that does everything right the first time.