Facta Vera - Payment Management and Automation
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Features at a Glance

Electronic Funds Transfer
Automatically generate electronic file for transfer to your bank (EFT, ACH. iACH, FEDI). Securely transfer payments to vendors and employees or even intra-company payments. Seamlessly process a batch of electronic and paper payments based on your ERP/Financial system information and drastically reduce manual user driven process and costs.

MICR Payments
Single point solution for printing MICR encoded paper payments eliminating manual interaction, reduce errors and eliminate paper waste with flexible formatting and output. Process unlimited bank accounts, unlimited bank specifications, multi-currency, both CMC 7 and E13B standards, logos, and secure signatures all in a single batch. You can process payments locally or across the network, print simultaneous filing copies on a network printer eliminating the need for manual sorting and preparing or better yet, we can image filing copies for both paper and electronic payments.

Payment Submissions

Positive Pay
Add Positive Pay functionality in a streamlined flow for only paper based payments. Reduce time and money by controlling the process through a single point and assuring all payments match and standards are always up to date.

Document Imaging
Facta Vera can interface to your corporate Document Imaging solution and automate the imaging process in a single straight through process. If your orgainisation does not presently have a imaging solution, Facta Vera can still image file copies for electronic filing.

GL Upload
Automate any requirements of data going back to your ERP/Financial system with our upload formatting capabilities.

Flexible Format Output
Facta Vera solution comes standard with formatted output. However, our robust open architecture delivers powerful formatting capabilities to meet most complex's of requirements. Best of all, no hard coding or programming changes is ever required, allowing our customers to maintain and mange their systems through EDIT mapper.

Extending beyond AP automation, Facta Vera can help automate processing and presentment of other corporate payments (i.e. Payroll), documents and statements.

Comprehensive Electronic Remittance Advice (CERA)
Meet the needs of your suppliers and employees with a comprehensive electronic remittance advice following payments submissions. Drastically reduce cost of payment processing and ensure that your payment conversion will be accepted.

Fully automated process
Since the process is driven by the ERP/Financial system information, Facta Vera solution can take a batch of payments and automatically process information based on codes provided. Automation of the process removes decision making by the users, eliminates possibility of errors, reduces manual labour presently required, all while seamlessly integrating required Forms of payments and providing central reporting and auditing.

Controlled by your AP user
Since the payment processing is a task for AP staff, our focus has always been to bundle the power and the capability with user simplicity. Our solution requires only a click or two and the tasks are completed. Furthermore, the solution can run in lights-out service mode, completely transparent to the users.

Plug n Play interface to ERP
Keeping with our simplicity, we deliver our solution with Plug n Play interface to your ERP/Financial solution. Furthermore, we will load your setup, banking specifications and all necessary information, thoroughly test all interfaces, outputs and processing prior to delivering the solution for site installation.

Some of our key plug n play interfaces:
ACCPAC, FACTS, Great Plains, MAS, Navision, Platinum, Solomon, Epicor, SAP, BAAN, PeopleSoft, JD Edwards, Lawson, Oracle, Geac Smartstream, Infinium, Movex, Ross, SunSystems, Silk Systmes, BPCS, CODA, PMS, Huon, Soft Voyage, Dovetail, Trans4M, Meditech.

We also interface to additional industry specific or custom systems and can create custom maps for specific requirements.

Plug n Play interface to Bank
Facta Vera solution interfaces to all EFT formats and ACH network specifications. Simply talk with your bank representative, and forward us your required specifications.

Payment Management

System access control
Facta Vera provides you with greater control over you payment processing. Access to system is tightly controlled and audited. Data reporting provides users the ability to match payment batch registers against the date about to be processed insuring that only approved data is processed. Multi-level access privileges allow for segregation of duties and accessibility to the system.

Payment view, sort and approval
Automation of payment management not only saves precious executive time by eliminating time consuming sorting, distribution, paper reviews and approving, it also tightens the payment loop. By routing payments electronically to executive officers for approval based on different thresholds (dollar amounts, company, bank, group or any combination), payments are approved prior to being generated, where traditionally a live negotiable payment has already been generated, and executive signature is more of a formality.

Finally, since its impossible to capture and sign off on electronic payment, with Facta Vera payment management solution your can provide the same control, routing requirements and approval your executives are already used to.

Payment routing and workflow
Payments can be automatically routed to different groups of executives for review and approval based on any combination of threshold requirements. Groups will received e-mail notifications of approval requirement and all approvals are recorded and available for executives within the same group to see.

Data report matching
For payment that are ready to be processed, AP users can review the data file report, drill down based on different Forms of Payments and match he data and totals against the ERP/Financial payment register to ensure they are processing required and approved data.

Facta Vera solution delivers additional reporting which would not be available in your ERP/Financial system. These would include reports such as payment approvals, batch and outstanding funds. Custom reporting is also available.

Comprehensive Audit Trail
All data processed by Facta Vera solution is logged in our Audit Trail. This report contains the who, when and what information and provides drill down capabilities based on any number of different requirements, including: Users / Session / Workstation / Data Range / Objects (Forms of payments, bank accounts, etc.)

• Benefits of automation reduce time and cost.
• Efficiently convert B2B payments to electronic.
• Use one powerful solution that’s quick to deploy, easy to use, and flexible enough to support all your payment processes.
• Eliminate IT costs and concerns associated with maintaining and upgrading separate applications.
• Increase collaboration and improve relationships with partners, customers and vendors.

Download Payment Automation Datasheet (.pdf)
Download Document Output Datasheet (.pdf)
Download Payment Management Datasheet (.pdf)


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