Global Payments

This Cashbook module allows companies to run Global payments from one location across multiple payment banks, accounts and ERP platforms or environments.

You start by running a payment selection for a specific date across all open invoices across multiple ERPs, Environments and Companies. This payment selection creates multiple open journals by each environment, region, company and payment account. From there an email-based approval process is run whereby local Financial Controllers can approve the payment amounts. Treasury can review payment amounts and then transmit payment files to whatever bank(s) that are in use. Finally all invoices are updated in their originating ERP systems closing the accounts payable subledger and creating the necessary general ledger entries.

This module is a revolutionary approach to Shared Service Centers and can save millions on IT expenditure to create a common ERP/IT architecture across companies.

This module includes Cashbook’s Automatic Email Remittance and becomes even more beneficial when implemented with the Bank Statement Upload & Bank Reconciliation modules

Features

Benefits

• Creates the ability to run Shared Service Centers without the need for a common ERP platform or version updates.
• Global companies can employ a global solution for all sites across multiple different banks.
• Automated processing of data reduces manual entry and consequently reduces the possibility of fraud and increases financial control.
• Elimination of manual effort allows companies to allocate more staff time to other higher-value activities