Streamline your vendor bill payments
Designed to seamlessly connect your ERP or accounting software with your bank’s payment processing capabilities. FISPAN brings automation to the entire vendor payment workflow by partnering directly with your bank and eliminating the need for manual payments, file uploads and journal entries.
How it works
FISPAN simplifies your payment processes by integrating seamlessly with your ERP or using FISPAN’s Companion Portal. Simply configure your vendor’s payment details, select the vendor bills you need to pay, and submit the payments, all without leaving your financial management software.
Configure vendor payment information: Store vendor bank account information securely within your ERP or FISPAN’s Companion Portal and set a default payment method.
Select bills to pay: FISPAN displays all open and approved bills within your ERP or the Companion Portal, allowing you to easily select the bills you want to pay.
Choose the source account: Select the appropriate bank account based on the bills selected.
Confirm payment(s): When you’re ready, simply click Pay. FISPAN automatically closes the bill(s) and sends them to your bank for approval and release.
Many supported payment methods
FISPAN’s solution supports various payment methods including: ACH, Check, Domestic Wire (multiple countries/currencies), USD International Wire, International FX Wire, Bacs (UK), SEPA (EU), CPA (CA), EFT (multiple countries/currencies) and Virtual Credit Card.
In addition to the standard payment fields supported natively in the ERP, we introduce new custom fields to capture detailed domestic and international payment information.
FISPAN streamlines your vendor payments within your native NetSuite, Sage Intacct, Dynamics 365 Business Central, QuickBooks Online or Xero Software workflows. This means no more toggling between your bank portal and your ERP or accounting software.
Integrated vendor management
Quickly set up vendor payment information, select their preferred payment method, and store their email address(es) for automated remittance advice emails, all directly within your ERP or accounting software.
Bypass the payment processor
FISPAN’s direct bank connectivity ensures your vendor payments are processed efficiently and accurately, without the added complexity, fees, and long payment processing times associated with a separate payment platform. Your payments are sent directly to the bank for processing, providing a streamlined and cost-effective solution.
Vendor bank account information tracking
Easily track changes to vendor bank account information to safeguard against fraudulent transactions.
Our built-in vendor approvals workflow allows entitled users to approve or reject changes to vendor bank account information to prevent unauthorized or incorrect updates.
Our solution pulls in all vendor bills that are in an approved and open status.
Whichever roles/users have been granted permission to do so by the system administrator.
This answer may vary on a bank-to-bank basis, please contact us at info@fispan.com for more information or get started here.
If the payment either fails validation or is rejected within the bank’s approval portal, the bill is reopened within the ERP/accounting software and the payment record is reversed.
Ready to get started?
Oracle NetSuite
Sage Intacct
Microsoft Dynamics 365 Business Central
Intuit QuickBooks
Xero
