By Fiona Jones
5 Feb, 2019
Iplicit is all about making your running your business easier, by giving you the information you need at your fingertips and integrating functionality to streamline your business processes.
Our latest example of this philosophy is our supplier payment functionality. Administering the money leaving a business can be as time-consuming as managing the finances coming in. Who to pay and when to pay are key decisions. It’s not all about who shouts loudest gets paid first. Other considerations include invoice due dates and payment terms, who gives you the best settlement discounts and what will your cash position look like next week. These are choices that can help you make the most of your money by avoiding late payment penalties and maximise early payment discounts and at the same time only parting with the cash you need to.
Working alongside our superb cash flow forecasting and aged creditor reporting tools our payment run functionality starts by providing an extensive range of selection criteria to help you identify the supplier invoices that matter to you most. Invoice due dates, payment currencies, payment methods, supplier type are a few of the ways you can target who and how much you want to pay. Decide what is the most convenient way for you to pay; cheque, BACS. CHAPs. Payment files are tailored to meet your banks specifications.
Iplicit payment run functionality takes all this into account. It allows you to take control. At the touch of a button invoices compatible to your criteria are automatically presented. You don’t have to accept the results – manually tweak the selected results – adding in or taking out items as you see fit. Whatever the currency, whatever payment method.
If you don’t need a full payment run but have individual supplier payments to process then Iplicits quick payment facility allows you to deal with these simply and without any fuss.
Just because Iplicit makes it easy doesn’t mean you have to compromise on control. Our workflow process ensures that your authorisation requirements are applied to all transactions. And as with many aspects of Iplicit functionality it’s available to you whenever, via mobile devices as well as desktop.
All this comes complete with out of the box reports for payment listings and summaries, immediately available to support up your payment runs process.
When your payments are ready to go send remittance advice to your suppliers via email or post – and store a copy for your convenience against your suppliers.
If you want to take control and manage your working capital as effectively as possible then get in touch and see how we can help you help your business.
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