{"id":689868,"date":"2022-09-28T12:07:09","date_gmt":"2022-09-28T16:07:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/netsuite-announces-accounts-payable-automation-to-increase-the-accuracy-and-speed-of-processing-bills-and-making-payments\/"},"modified":"2022-09-28T12:07:09","modified_gmt":"2022-09-28T16:07:09","slug":"netsuite-announces-accounts-payable-automation-to-increase-the-accuracy-and-speed-of-processing-bills-and-making-payments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/netsuite-announces-accounts-payable-automation-to-increase-the-accuracy-and-speed-of-processing-bills-and-making-payments\/","title":{"rendered":"NetSuite Announces Accounts Payable Automation to Increase the Accuracy and Speed of Processing Bills and Making Payments"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n New fully embedded banking services provided by HSBC enable vendor payments to be made from within NetSuite <\/i>\n <\/p>\n

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\n LAS VEGAS<\/span>
\n <\/span>, Sept. 28, 2022<\/span><\/span> \/PRNewswire\/ — SUITEWORLD 2022 — To help organizations address the time consuming and labor-intensive Accounts Payable (AP) processes, Oracle NetSuite<\/a> today unveiled NetSuite AP Automation. The only solution that embeds banking services into a cloud enterprise resource planning (ERP) system,<\/a> NetSuite AP Automation helps organizations improve profitability by making it easier and faster to process bills and pay vendors all from within NetSuite. As a result, organizations can better control outgoing cash flows and easily scale end-to-end accounts payable processes<\/a>.<\/p>\n

“Accounts payable plays an important role in helping organizations manage cash flow, control costs, and maintain strong relationships with vendors, but all too often the process is slow, tedious, and error-prone,” said Evan Goldberg<\/span>, founder and EVP, Oracle NetSuite. “By simplifying and automating the entire bill payment process \u2013 from data capture to payment and reconciliation \u2013 NetSuite AP Automation eliminates these challenges. This helps businesses streamline and improve a key operation, empowering AP teams to operate more efficiently and ultimately reduce costs.”<\/p>\n

With automated payment services provided by HSBC, payment processing is simpler, faster, and more accurate. From within NetSuite, organizations can determine precisely when and how to pay vendors to ensure control over outgoing cash flow and take advantage of early payment discounts.<\/p>\n

“HSBC is at the forefront of the embedded banking revolution. This is the largest fully embedded Banking as a Service deployment into a globally recognized cloud ERP system,” said, Barry O’Byrne<\/span>, Chief Executive Officer, Global Commercial Banking at HSBC. “Business customers increasingly want integrated, accessible solutions at their fingertips. Our embedded banking solution with NetSuite allows customers to manage payments and automate reconciliations at the point of need, without switching screens or multiple logins.”<\/p>\n

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With NetSuite AP Automation, eligible transactions completed with an HSBC virtual credit card earn credit, which further reduces operating costs and turns accounts payable from a cost center into a revenue generator.<\/p>\n

NetSuite AP Automation helps organizations:<\/p>\n