EDI enables financial systems among different companies, financial institutions and government agencies to transmit, receive and process orders, invoices, payments and other electronic communications using a standardized document format.
Electronic payments processing can help you:
- Make secure just-in-time payments to suppliers in the U.S. and abroad.
- Automate traditionally manual payments issuance, saving time and money on check preparation, postage.
- Increase data security and integrity of your files and communications.
- Speed reconciliation and payment matching to POs and invoices and report on payables more frequently.
- Improve cash forecasting processes with up-to-the-minute balances.
- Get secure 24/7 access to files on computers and mobile devices.
Electronic payments processing is often used to:
- Originate payments to overseas customers and suppliers using our accessGLOBAL ACH® application.
- Transmit checkwriting requests to be fulfilled through our CheckMint® service.
- Initiate system-to-system bulk wire transfer payments.
If you want to augment or replace some of your paper-based payments systems, a Treasury Solutions Specialist can work with you to implement a program that can be fully integrated into our compatible cash management services.