Globys Payments automates invoice-to-cash with straight-through processing

Globys Payments adds multi-pay, intelligent remittance automation, and expanded payment gateway support. The new features allow a customer to digitally pay multiple invoices with one payment while automating capture of remittance advice so that it is automatically applied to each invoice within the accounts receivables of the supplier.

In the B2B invoice-to-cash process, payments and remittance advice from a customer are almost always submitted through different channels. Consequently, an accounts receivable department is left with the challenge of reconciling payments to invoices in order to recognize revenue and close books. This B2B reconciliation is compounded with complexity because of the myriad of billing accounts and invoices corporate customers have. The result is a highly manual and error-prone process that can slow throttle accounting operations.

Straight-through processing provides a single channel to both submit payment and remittance advice electronically. Straight-through processing removes operational costs and errors of a fragmented, manual payment workflow by linking payment information and remittance advice together. Straight-through processing replaces the multi-step email and document process for B2B customers with an easy-to-use, integrated online experience to help drive adoption of electronic payments.