Simple, secure electronic bank transfers
EFT (electronic funds transfers) is the ideal way to pay your suppliers. Using an EFT solution can help you achieve a more predictable cash flow, reduced costs and make more informed business decisions. Increasing your payables should be a core business strategy as paying your suppliers on time can assist with supplier discounts or rebates on early payment.
Key benefits of EFT
- Security - mitigate the risk of fraud. EFT payments cannot be lost and, if using encryption, cannot be fraudulently altered.
- Cost reduction - No need to mail cheques, or chase for a cheque to be signed. Cost reduction can be achieved through saving on posting and time & effort. Time that can be spent on more value add tasks.
- Audit control - visibility over your payments, providing timely confirmation of bank payment status, returned transactions or inaccurate supplier data.
B4B provides a seamless link between both your payables module and your bank(s) for electronic bank transfers.
It is an easy to use yet sophisticated payment management tool catering for today's global banking requirements. B4B brings international and domestic payments together, allowing multi-national companies to set up a global payments operation from a single source. This reduces inaccuracies, time and cost. B4B has a large library of banking formats for across the globe and supports CHAPS, Faster Payments, BACS, SWIFT, SEPA and many more.
Security for bank payments is paramount for any organisation. B4B includes fully encrypted data within the solution as well as PGP Encryption where the bank allows. Add to this a multi-tier approval matrix to assist in fraud prevention and audit controls and you can see why B4B maintains its position as the premier payment management solution for Microsoft Dynamics GP and Infor SunSystems users. B4B provides a swift return on investment.
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