Have you ever thought about the idea of having your account payables function enter the 21st century and make all vendor payments electronically (ACH)? Have you attempted to investigate your options, and realized the complexity of the project?
You probably started to wonder how you were going to accomplish what needed to be done….
Your bank talking about the need to start a project to work with your IT on being able to process your ACH payments
IT and the bank telling you about the need to create a process to produce NACHA files to send to the bank whenever electronic payments are made—and you thought “do I really need to know this?”
The IT guys saying that they’d have to prepare the system to receive files from the bank and update the payables system with payments that were successfully executed and with those that failed. They probably even talked about having to punch holes in the firewall—and you went “wait…what? holes were?”
Your account payables team complaining about having to do extra work to pay some people with ACH and still cut checks for those vendors that won’t accept electronic payments
Your internal auditors asking about controls to ensure that files are not sent to the bank more than once, controls to handle stop payments and controls to reconcile the bank account from which the electronic funds are withdrawn
If this sounds like situations you have been in recently then we’ve got some BIG news for you!
Intacct, the best in class cloud ERP system, and American Express have created a seamless integration to help you make vendor payments easily. Working together they offer a cost effective, seamless and secure way to pay your vendors. You can pay vendors with direct deposit (ACH), with your American Express corporate card, or even with a printed check. All within Intacct and without having to get your IT and the bank engaged in a long, complex, painful project.
You have a secure way to do electronic payments using the American Express Global Corporate Payments infrastructure.
You can quickly setup the process. Yes, yourself! You activate it from your Intacct subscription page. No need to get IT and the bank involved.
You can keep your current bank and you can pay to any bank.
All your banking information is verified, including your banking officer, account details, and bank connectivity.
The process is easy. Just select the bills to pay, approve them, and relax. Intacct sends the payments to American Express and they automatically route the ACH payment to your vendor's bank. No need to generate and send ACH files manually.
You can automate your payments to be sent as soon as they are approved and to automatically post to the GL.
Those vendors that take American Express can be paid with your Amex corporate card.
For vendors that prefer to be paid with the good old paper check, Intacct Check Delivery Service will handle the printing and mailing of your checks. This saves you time and money on printers, ink, preprinted checks, and postage.
Eliminate all the hassles of paying vendors with the integration that Intacct and American Express offer. Electronically submit your payments from within Intacct and have your vendors be paid in any way they want: check, electronic deposit (ACH) or American Express credit card. Easy, safe and cost effective.
Contact us and we will tell you more about how to streamline your vendor payment process with Intacct and American Express.