Vendor Payments

Paying vendors is often the final step in the Purchase-to-Pay cycle. When goods are ordered, a Purchase Order (PO) is deployed and an invoice is recived once the goods arrive. Once compared with the PO, the details are entered in the Account Payable system.

The Accounts Payable Function

Accounts Payable covers nearly every transaction outside of payroll, making it an important, but costly and complicated, process. It’s even more difficult for large companies with international subsidaries that have their own accounts payable departments.

Centralize Your Payments

When all your company's payments are in one, central location, financial processes are sped up and group controls are improved without drastically changing the subsidary payment process or interfering with locally-handled payments and supplier relationships.

Service Organization

Vendor Payment works with Single Services Centers (SSC) and Organizations (SSO) so payments can be made through a single operating entity with standardized processes and reduced costs. Much like with Intercompany Netting, centralizing your processes brings new clarity and ease to managing global finances.

Work with Cash Management

Vendor Payments can be combined with a centralized bank account pooling structure or an In-House Bank structure (IBH) to act as a bank to the parent company and its subsidiaries. It builds on the controls and benefits of an SSC and increases control and transparency.