- Remotely and securely manage all payments (settling client invoices & pay vendors with ease and flexibility from anywhere in the world)
- Scheduled direct debit customer collections
- to settle outstanding invoices to avoid fees and due dates
- Lower risk of fraud – run your electronic information through a system that screens for any red flags (no more handwritten and mailed cheques)
- Support for more than 50 international bank formats
- Enhanced EFT capabilities with filtering options support bill display, partial payments, bill management and other controls.
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Electronic Payments Solution for NetSuite Module Features
✔ Multi-Currency Processing
✔ Worldwide Bank Support
✔ Contactless Electronic Payments
✔ Choose Your Language Preferences
✔ Create Custom Payment Templates
✔ Fast implementation
✔ Easy Electronic Funds Transfers
✔ Direct Debits (DD) Supported
✔ Scheduled Payments (Avoid Late Fees)
✔ Lower Risk of Fraud
✔ Automated Payment Batch Creation
✔ Manage approval workflows to obtain required authorizations
✔ Process multiple payment batches simultaneously in separate queues
✔ Filtering options for bill display, partial payments, bill management and other controls
The Benefits of Adding the Electronic Bank Payments Module for NetSuite
Our NetSuite configuration for Electronic Payments allows businesses to upgrade to electronic and contactless payments, using our best practice to remotely manage their day to day transactions and streamline their vendor flows.
1. Get Worldwide Bank Support and Set Up Payments in Multiple Currencies
Electronic payments through NetSuite supports more than 50 bank formats across the world. With the licensed version of this module, you can also customize your own templates if standard doesn’t fit your requirements.
2. Remotely Manage Approval Workflows
Approval workflows will be automated in NetSuite, so that payment batches will be automatically routed for approval to select parties. Each approver within your team gets an email alert to notify them of the current stage of the approval process and to let them know what they need to review and approve.
Users will be able to draw data from the same source, ensuring that everyone, from every department, has access to the same data when they need it.
3. No More “The cheque is in the mail” excuses from clients
Electronic payments will allow clients to pay you directly without contact or a cheque in the mail and your accounting department will be able to tell immediately whether or not payment has gone through.
4. Contactless Payments & Signatures
No signatures required! Manage all payments remotely and securely through NetSuite.