Faster and better payment cycles with no headaches
Company budgets are lost to financial errors every year
One of the critical challenges for finance teams is ensuring visibility and accuracy of the payment approval workflow to eliminate errors and boost efficiency.
The B2B payment process is complex and highly manual. Enterprise businesses have thousands if not hundreds of thousands of vendors to manage, thousands upon thousands of invoices requiring payment,as well as multiple systems, numerous people, and many steps involved in the process. Furthermore, many finance teams are still using inefficient legacy systems and cumbersome spreadsheets to manage their payment cycles.
The following problems lead to incorrect payments and mistakes that cost businesses a lot of money:
- Duplicate payments
- Matching errors
- Fraudulent payments
- Payment to the wrong bank account
- Data entry errors
- Lost invoices
- Late payment fees
Trustmi’s Payment Flows module enables teams to efficiently and securely manage their approvals for payments so that they can pay their vendors the right amount on time.
- Leverage advanced AI technology to ensure your payments go to the right place for the right amount and on time.
- Have global visibility into invoices, vendors, internal approvers, and every step across the approval chain.
- Use a cutting-edge tool that uncovers vulnerabilities across the workflow, detects suspicious signals, and eliminates fraud risk.
- Incorporate compliance controls into your payment workflow to ease reporting later on.
- Automate your payment workflow to boost efficiency, save time, and avoid losses.
- Run your process your way with an easy-to-use platform and intuitive interface.