Accounts Payable automation - Solution

Accounts Payable Automation (AP)

Accounts Payable Automation - Payment Notification Process - The Accounts Payable (AP) area of Travelex used to do cheque runs followed bymanual posting of the cheques and remittance advices to suppliers. This was a verytime consuming and paper intensive process taking up another 40 hours of stafftime every week for 1000 cheques. Travelex intended to move to EFT payment froma cheque based system. However, this meant a gap from the date of the payment tothe date suppliers would actually receive the remittance advices by post. This gap was going to create inevitable confusion amongst suppliers and Travelex staff timewould have been further consumed clarifying supplier queries on payments.

The Accounts Payable department has now switched to electronic funds transfer (EFT), instead of paper-based cheques system. Esker's solution complements the EFT operations by deliveringremittance advices electronically. Esker's solution sealessly integrates with SAP and recognisesremittance advices from the SAP print stream, delivering the remittance advices to the correctsupplier by fax simultaneously with EFT payment. "Suppliers are more comfortable about receivingpayment from us — (...)

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