The New Star of Open Banking “Bulk Payment System”

Netekstre
24-01-2023
5 min Read
The New Star of Open Banking “Bulk Payment System”

Bulk Payment System; It is suitable for the use of companies in every sector that make supplier and market payments. It is a rational, innovative, planable money transfer method that can be integrated with ERP (Enterprise Resource Planning) systems and rules can be created by making special developments for the needs of companies. The Collective Payment System, which is put into service by many banks in our country, is made available with a general framework agreement. The customer representative at the branch you work for will be happy to assist you. Because this system not only makes your life easier, but also reduces the operational costs of the banks, as your written payment instructions that you have sent to the bank before will be carried out through this system. Money transfers are carried out quickly, without the need for the passwords of the banks to which the money is transferred. According to the system working hours and conditions in the framework agreement with the bank, the payments are transferred securely from your bank account to the recipient accounts. Benefits of the Bulk Payment System To list the functions of the Bulk Payment System that provide benefits to its users; • You do not have to give your bank passwords to your employees. • You can rule payment orders to be paid at a future date. • You can break down payment transactions by preparer, controller and multi-step approval levels. Thus, the relevant departments only do the work under their own responsibility and get rid of the business follow-up processes. • You can perform the approval mechanisms within the company's internal dynamics without sending them to the bank system. • Sequential approvals can be defined, and you can restrict the amounts approved by the approvers to the amounts in the signature circular. • You can limit users on the basis of registration and file amounts. • You can assign multiple users to the same role for the preparer, controller, and approver roles. • In addition, you can manage all the banks you work with from a single panel, and ensure that the payments are made from the desired bank account. In this way, companies using a single panel do not pay EFT costs. • You can track your payment statuses and create reports specific to your company. You can examine in detail why the unpaid records could not be paid, and if you wish, you can trigger the repayment process. • You can integrate it into your ERP systems and upload payments on a current account basis. You can close the paid records in the customer's current account via the ERP system. • In addition to bulk payment, you can also perform individual money transfers and do not keep your urgent payments waiting. • With SWIFT transfer, you can also transfer foreign currency other than TL. This system also allows import payments. These features save time in finance/accounting operations. You can digitize your processes end-to-end by adapting the Bulk Payment System to your internal processes with additional developments specific to your business.

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