4 ways to Mitigate Risk with Electronic Payments for NetSuite

When we talk with prospects about Electronic Payments we are frequently asked how EPayments from Nolan Business Solutions mitigates risk. This blog discusses four ways in which the product minimizes risk for you.

Firstly, use an electronic payments system where you securely log-in at your bank site using your secure banking credentials.

Secondly, another way is to remove risk by not having a third party that removes money from your bank and then pays your vendors on your behalf.

Thirdly, connect directly to your bank and pay from the one source. The advantages of this are:

  • You remove risk because you already have a relationship with your bank and you trust them.
  • Keep all your operating cash within your bank.
  • Pay from only one source. Vendor check printing can be done by your bank on your behalf, as can as ACH payments, International wires, and paying by credit card.

Fourthly, you can eliminate in-house check printing and all the risk associated with this. Your bank can print your checks on your behalf. They can also create a safe pay system and will only cash the checks that they have on their internal list.

Nolan Business Solutions Electronic Payments creates a banking output file that you upload to your bank by using your secure banking details. Secondary approvals can also occur within the bank's business portals. Nolan Electronic Payments works with any bank and allows you to maintain one payment relationship and protects your security and reduces risk. With the Nolan Electronic Payments solutions your bank can print your checks, ACHs, and wires on your behalf. Better yet, all this happens directly from within the NetSuite accounting system.

By Nolan Business Solutions, an International Microsoft Dynamics GP ISV and NetSuite Provider

 

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