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Vendor Payments

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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 received when the goods arrive. Once compared to the PO, the details are entered into the Accounts Payable system. Our Vendor Payments module simplifies and expedites this process with centralized payments, increasing payment control and service quality.

The Accounts Payable Function

Accounts Payable covers nearly every transaction outside of payroll, which can be costly and complicated. It’s even more difficult for large companies with international subsidiaries that have their own accounts payable departments. Vendor Payments helps streamline these often convoluted processes.

Centralize Your Payments

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

Service Organization

Vendor Payments works with Shared Service Centers (SSC) and Organizations (SSO) so payments can be made through a single operating entity with standardized processes and reduced costs. Like the centralization of Intercompany Netting, consolidating 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 (IHB) 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.

Vendor Payments Benefits

  • Save money with fewer payents and FX centralization
  • Better liquidity planning and control of cash flow
  • High-level view of exposures and counterpart risks
  • Bargaining power toward banks and suppliers regarding volume and pricing
  • More efficient group financing
  • Seamlessly integrates with other modules and cash management tools

See GTreasury in Action

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