“Incorrect, or out-of-date information can lead to poor decision-making and sub-optimal business performance. If CFOs are to act as strategic advisors to the business, it is essential for them to have up-to-date accurate information to report back to the C-suite and board.”
How it works
AccessPay is the connector between your back-office and your banking estate.
Utilising an API or sFTP connection, AccessPay pulls intra-day statement files from your connected banks and pushes them automatically to your back-office system, automatically transforming them into a format that’s consumable by your ERP, TMS or reconciliation tool.
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Achieve a faster financial close
With ERP-bank integration, the reconciliation process can be fully automated both intra-daily and on end-of-day schedules, ensuring timely access to financial data – faster than ever before.
The opportunity for increased frequency of reconciliation means it can be performed more regularly whilst finance teams save significant time compared to doing this manually.
Finance teams can easily access transaction data from multiple bank accounts for a more streamlined and efficient reconciliation process.
Make strategic decisions with accurate data
For industries like Financial Services and the Legal sector, financial data richness is essential for accurate reporting.
And, in the investor landscape, a company’s revenues and financial position hinge on the speed of accounts completion, influencing investor judgment.
ERP-bank integration assures data accuracy, consistency, and the timely exchange of financial data to empower organisations with the tools they need to make well-informed, strategic decisions, trusting their company’s statement data is accurate and up-to-date.
Mitigate the risks of manually accessing bank portals
Manually accessing bank portals can increase the risk of data breaches due to the potential for fraud via data manipulation.
Human error can also result in inaccurate financial reporting, posing compliance threats for regulated organisations who require rich data to stay compliant.
ERP-bank integration ensures your bank statement retrieval process can be fully automated, reducing the number of high-risk users managing your accounts. It also standardises payment controls and eliminates the possibility of fraudulent data manipulation, safeguarding sensitive systems and ensuring regulatory compliance.
Watch our short demo to see how AccessPay integrates with NetSuite
The same process applies to all ERPs and other back-office applications including Sage and Dynamics 365.
Find out how AccessPay integrates with your core back-office applications and ensure a faster close.