Payments and Reconciliation

A workflow based system designed for the management of both financial and vendor payments, the Payments and Reconciliation system objectives are :

• To provide automation for the modification, approval, signature, remittance and reconciliation of electronic payments
• To reduce the cost associated with paper-based payments
• To enable decentralized approval process in total security
• To simplify the remittance process by eliminating the challenges of handling multiple financial formats, communication protocols and security systems

Created to ease the difficulties of managing multiple payment systems while insuring secure workflow communication, the XRT payments solution enables web entry of payment requests or direct upload from ERP systems. In addition, the system offers multiple authorization levels and digital signature also accessible via a browser. Finally, the notification function across phone, fax, e-mail and wireless devices greatly enhances the efficiency of the workflow.

When paired with the reconciliation tool, this solution offers a highly effective payment centralization system. Significant savings can be immediately observed once paper payments and the use of various front end systems have been eliminated. Not to mention, the additional saving coming from the potential payment term negotiation.

Key features include :

• Certified interfaces with PeopleSoft and SAP
• More than 25 payment formats supported
• 1-to-1, 1-to-n and n-to-n automatic or manual reconciliation
• Digital signature from either a browser or the windows application