In today’s digital world, it’s critical that businesses have systems in place to automate their financial transactions. The most efficient way is through bank integration. NetSuite allows businesses to easily connect with banks, view account balances and activity, process wire transfers, ACH payments, and check deposits, and conveniently generate reports on financial transactions, among others.
Streamline your bank transactions and get these benefits:
You can automatically match bank receipts with invoices and eliminate the need for manual data entry.
Your invoices and payments will be automatically posted to your accounting module, saving you time.
You can automatically process checks for payment and print or issue them electronically. All you need is a printer connected to your computer.
NetSuite allows you to accurately track fund deposits and reconcile them with your books.
NetSuite allows you to automatically create journal entries for your bank transactions.
You can easily process vendor payments and keep track of vendor balances.
Speed up processing large number transactions since won’t have to manually enter data, the time it takes to process your payments and invoices will be reduced.
If you want a free, native solution then the Bank Feeds SuiteApp is the answer. It allows you to connect to your bank account and automate your banking transactions. With the Bank Feeds SuiteApp, you can:
The Bank Feeds SuiteApp is a free application and it’s available on the NetSuite App Store. If you want a more comprehensive solution that includes additional features such as multi-currency support, automatic bank statement reconciliation and credit card processing, then you can consider a more comprehensive integration solution.
For those with more complex requirements, the answer is to get a more robust bank integration solution. Our proprietary iPaaS or integration Platform-as-a-Service- Excelym.IO may be the most cost-effective integration platform in the market.
We’ve integrated NetSuite and HSBC (Hongkong-Shaghai Banking Corporation) for a global software/SaaS company and successfully covered a couple of complex business processes and workflows.
Visit our product website to learn more and sign up.
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