What are NetSuite Payment Automation Benefits?

2 benefits of NetSuite Invoice Management are: 1. Single Accounts Payable Solution. No need to leave NetSuite, use other applications, key in payment details, process payments, then come back to NetSuite to record the payment. 2. Increase Supplier Satisfaction. Automating payments results in faster payment processing cycles. Suppliers get paid promptly, creating strong relationships.

NetSuite Payment Automation Software

Pay invoice directly from NetSuite

What is NetSuite Payment Automation?

NetSuite Payment Automation provides a simple, fast and secure way to make payments directly from NetSuite. Embedded banking services provided by HSBC Bank USA N.A., member FDIC (HSBC) enable you to pay bills directly from NetSuite. As a result, organizations can better control outgoing cash flows and easily scale end-to-end accounts payable (AP) processes.

What is NetSuite Payment Automation & Bill Capture? (Video)

Easy and Secure Way to Make Payments

The HSBC virtual credit card offers qualified customers an easy and secure way to pay vendors without the risks of maintaining a physical credit card. The automatically generated single-use card numbers provide an additional layer of protection.

Learn How ERP Can Streamline Your Business

Free Product Tour

NetSuite Payment Automation Benefits

Single Accounts Payable Solution. No need to leave NetSuite, use other applications, key in payment details, process payments, then come back to NetSuite to record the payment.
Increase Supplier Satisfaction. Automating payments results in faster payment processing cycles. Suppliers get paid promptly, creating strong relationships.

NetSuite Payment Automation Features

Manually paying vendor bills is a time-consuming, labor-intensive and error-prone process. NetSuite Payment Automation provides a faster, easier and more secure way to make payments directly from NetSuite.

Payment Automation

Increase the accuracy and speed of payment processing with automated payment services provided by HSBC. Pay vendors via ACH, check or virtual credit card.* With an HSBC online checking and credit card account, pay suppliers via check or virtual credit card. An existing non-HSBC bank account can be used to auto-fund the HSBC account. An HSBC virtual credit card offers qualified customers an easy and secure way to pay suppliers without the risks of maintaining a physical credit card. The virtual credit card even includes a rewards program —eligible transactions completed with the virtual credit card earn 1% cash back.

*Banking products and services are provided in the United States by HSBC Bank USA, N.A member FDIC and subject to HSBC eligibility requirements. Customers will be onboarded through NetSuite AP Automation for HSBC products and pay fees to HSBC for banking services.

Payment Reconciliation

Payment information is downloaded into NetSuite daily. Automated matching of virtual credit card charges confirms transactions while flagging discrepancies for further review by accounting staff. Missing entries, such as bank fees, can be easily created, saving time and eliminating the potential for errors. Improve visibility by downloading monthly statements directly to NetSuite when they become available.

Account Dashboard

The SuiteBanking Center dashboard provides full visibility into your HSBC accounts. Monitor HSBC online checking and credit card activities, review account balances and manage account details, all from within NetSuite. Track the status of vendor bills, and build solid relationships with vendors by keeping them informed that payment is on the way.

Challenges NetSuite Payment Automation Solves

Time-Consuming and Labor-Intensive AP Processes. Automating the entire AP process reduces processing costs and increases productivity, allowing AP staff to handle bills more quickly.
Payment Delays. Manual processes lead to payment delays, which hurt supplier relationships and may drive up costs due to vendor penalties and/or inability to take advantage of early payment discounts.
Tedious Manual Payment Reconciliations. Improve the accuracy of accounting data by eliminating error-prone manual reconciliation and enabling a faster financial close.

How Much Does NetSuite Invoice Management Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and number of users. There is also a one-time implementation fee for initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.

NetSuite Payment Automation is an add-on module.

Ready to get started?

Contact NetSuite Now(opens in new tab)