Facta Vera - Payment Management and Automation
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Benefits of Electronic Payment Solution

If your AP payments could be automatically deposited directly into the accounts of your recurring vendors and employees for expenses, you’d lower your costs and increase your security and control over cash flow.

Facta Vera solution will give you that advantage with EFT and ACH capabilities, to meet any bank specification in a streamlined process.  Our comprehensive suite encompasses full payment management, routing and approval, process automation and presentment delivery. 

When it comes to recurring vendors and employee expense reimbursements payments, Facta Vera functionality streamlines your process, helping you seamlessly transition to electronic payments, making cash flow more predictable, and reducing your costs and exposure to fraud. Not only are transaction fees lower by moving payments to EFT/ACH form of payment than those for cheque issuance, your internal administrative costs are also reduced

Why Facta Vera is the right choice for your company

Managing AP payments is costly and time-consuming. Facta Vera can help transition to electronic payments, which offers benefits that increase your control over cash flow and reduce your costs through an array of attractive features.

Ease of use — Reduce the effort associated with cheque issuance for recurring payments by transitioning seamlessly to electronic payment.  Facta Vera solution will process your ERP/Financial system payment file and automatically generate cheques or electronic payments at a click of a button.  All process rules are built into the process so your staff does not need to make any decision or go through multiple steps to create different forms of payment.  Simply point and click and Facta Vera system will generate all cheque formats (along with Positive Pay and/or Payee Match submission), EFT and ACH formats.

Reduced costs — Handling time and postage costs are reduced when cheques no longer  need to be purchased, printed and mailed. Electronic payments also eliminate the need for cheque authorization/paper tracking and auditing, reconciliation and storage.

Advanced security features — Facta Vera has multiple levels of control, audit and reporting.  Segregation of duties if defined in the user account setup and restrictions are place on access and rights privileges.  Decision making is taken away from the users and rules are driven by your ERP/Financial system output eliminating potential for user error or fraud.  Finally, all transactions are logged in the Audit Trail, which provides comprehensive information regarding your payment processing and allow for drill down capabilities.

Multi-level approval capability — Facta Vera system allows you to segregate the duties of those who prepare payments and those who approve them. Approval rules adapt to your company’s specific requirements.  You decide who may authorize and sign transact and the flow of payment approvals.  Facta Vera system will automatically notify approval officers of payments requiring their approval, and even rout it to the next level based on your company specific set of rules. 

Integration with your systems — Our plug and play interfaces to most ERP/Financial systems and all financial institution specifications makes installation and integration quick and painless.  Our open system architecture also allows for customization to meet any required process.

Complex or simple

Facta Vera can process multi-currency payments and easily handle multiple bank specifications.  Your company maybe dealing with a Canadian and US institutions requiring different feeds and formats or a single institution with multiple accounts or companies, which will all be automated through a single system.

Comprehensive remittance presentment

Without the ability to deliver your remittances to vendors and employees for payment, success rate for conversion to electronic payment will be limited.  Without an automated remittance delivery cost savings will also be limited.  Facta Vera delivers a comprehensive electronic remittance advice delivery, through web, e-mail or fax, and if an occasional payee still requests paper, we can print it.

Additional benefits of electronic payment and presentment to your organization:

Predictable cash flow
Payment precision
Improved payee satisfaction
Ease of reconciliation

Facta Vera meets all of your payment processing needs

A technology leader with an enviable track record in the payment processing field, we have the expertise and experience to offer you a comprehensive payment solution and best practices.  With installations throughout North America, our superior customer service support, and 100% installation success rate, we hope to exceed your expectation.
     
     
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