Treasury Payments
One hub for all Initiation and Approval Workflows. Process 98% of Payments on time with enhanced security.
Centralized payment approval management. View, delegate, request information, approve, or reject payments.
Multi-level Approvals. Enhance the security and controls by defining approval workflows as per company policy.
Track real-time payments. Ensure sufficient funds and meet bank cut-off times, preventing delays and interest charges.
Avoid Delays and Interest Charges. Alerts for approvers as cut-off time is approaching and escalations based on rules.
Track payment progress. View the holistic status of all payments and manage payment releases within the system.
A payment workflow platform streamlines payment approvals by automating tasks, minimizing errors, and ensuring adherence to compliance rules. It centralizes payment processes, provides real-time status visibility, and eliminates manual inefficiencies, enabling faster and more informed decision-making.
By replacing manual workflows with automated systems, teams improve control over payment cycles and reduce risks of delays or errors. This technology ensures timely payment releases, enhances operational efficiency, and supports better cash flow management, minimizing bottlenecks.
A payment approval solution establishes structured processes, aligning approvals with company policies while reducing risks of errors and unauthorized transactions. It prioritizes urgent payments and fosters accountability by providing transparency into every payment stage.
This workflow helps businesses make timely decisions, minimize delays, and maintain operational consistency. It strengthens governance, improves cash flow management, and secures financial transactions for greater organizational control.
Payment approval solutions simplify multi-level approvals by automating payment workflows and routing tasks based on predefined roles and latest policies. Automated alerts ensure timely notifications for approvers, reducing delays and keeping critical processes on track.
This structured approach enhances collaboration and ensures compliance while improving overall efficiency. Businesses can handle complex approval scenarios with greater accuracy, transparency, and operational ease.
A payment approval system centralizes and enforces company-defined approval policies, ensuring compliance and reducing risks. Payments undergo a structured approval workflow, aligned with organizational rules, preventing unauthorized transactions and mitigating fraud. This enhances transparency and operational trust.
For example, urgent payments, such as a $10M EFT, may require multi-tiered approvals from designated groups in a specific order. Approvers can view, approve, or reject requests with detailed payment data. Features like bank cutoff monitoring, fraud detection, and status tracking further minimize delays, errors, and compliance breaches. The system ensures secure and timely payments while safeguarding organizational funds.
A payment workflow refers to the sequence of tasks, actions, or steps required to complete a process, ensuring smooth execution and collaboration. It defines how tasks move between individuals or systems, covering all steps from initiation to completion for streamlined operations.
An approval process is a specific subset of a workflow focused on obtaining formal consent or authorization for a task, document, or payment. While workflows handle the overall process, approval processes concentrate on decision-making stages, ensuring compliance, accuracy, and accountability in critical operations.
The Payment Workflows and Approvals Module centralizes the entry, approval, and execution of payments across the organization on a single platform. It eliminates the need for multiple bank logins, ensuring payments are managed efficiently and securely in compliance with company policies.
The module offers a unified portal for payment workflows, integrates fraud detection and sanctions screening, and supports real-time monitoring of balances and cutoff times. Its ability to automate bulk payments and approval workflows, along with enhanced visibility, makes it an all-in-one solution for treasury teams.
Yes. The Multi-Tiered Approval Workflow allows you to configure complex approval rules based on multiple parameters including:
The Bulk Payment Workflow feature manages the entire process for high-volume payment files, including:
Pre-approved payments undergo fraud detection and sanctions screening before being split, batched, and sent to the bank for execution. Approvers can review the total payable amount without accessing confidential details.
The payments solution gives real-time alerts for rejected or failed payments, allowing your team to quickly investigate and fix issues. You can see why the payment failed and take corrective actions to reprocess it.
Executives can easily view the payment status and history through the system’s dashboard. It provides detailed reports on payments made, payment stages, and any issues that may have occurred.
The system routes high-value payments through multi-tiered approval workflows, ensuring each step is properly approved by the right people. This prevents unauthorized transactions and ensures company policy is followed.
