Automating payouts is a huge step in supercharging your organization’s financial operations. You’re saving time, improving your staff’s efficiency and productivity, saving money on supplies needed for manual payment, improving relationships with your vendors, suppliers & contractors and becoming more tax-compliant.
There are so many benefits that come with payment automation and we want to help you get started.
Collect’s smart and intuitive payment dashboard was built with your organization in mind, and it takes just 3 steps to automate your payouts:
1. Request a Demo
To begin, fill out the form here to help us understand your business. Next, we’ll schedule a personalized demo for you and your team, where our in-house payment specialists will give you a tour of the Collect dashboard and how you can personalize it for your vendor management, payouts and all your business’s financial operations.
2. Upload Invoice
After the demo and you’ve completed the onboarding/sign-up process, it’s time to start automating your bill payments. The first step is to upload your vendor’s invoice. For every uploaded invoice, the dashboard automatically reads the amount, vendor name, invoice number and due date. It also calculates tax and discounts if applicable, saving your man hours. Next, you can schedule payment and everything else will be taken care of, including automated delivery of receipts to vendors.
You can also set up an approval flow so that every payment is approved by a finance manager before they are made. The approvers also get automated reminders that ensure they approve payment before an invoice due date.
3. Track and manage invoices
Invoices are automatically categorized based on their status to help you keep track of all payments, overdue and unpaid invoices. After uploading your invoices, all you have to do is perform routine checks to ensure everything is on track and all approvals have been done.
What else can you do with the payment dashboard?
- You can pay vendors In any currency. Wherever your vendors, freelancers, suppliers and contractors are in the world, pay them from a single dashboard.
- Receive payments from customers via bank transfer or payment links
- Transfer money to anyone across the world
- Pay staff salaries seamlessly with the bulk transfer feature
Ready to get started with automating your financial operations? Click here.