NetSuite International Electronic Payments Made Easy With Nolan Business Solutions

 

More often today it is common for companies to be growing globally and with that global growth comes the need to pay vendors and reimburse employees across a global landscape. This expansion can add complexity into the payables process of determining country-specific banking requirements.

 

For international payments, it is important to determine all necessary payment scenarios based on:

  • originating bank
  • originating and receiving country
  • originating and receiving currency
  • type of payment (i.e. check, wire, ACH, or virtual card) 

This all seems complex but is important to successfully build compliant files. Once the necessary scenarios are determined, a Nolan consultant can generate custom bank file formats to meet each payment scenario. Often through conditional values and or other methods, many of these payment scenarios can share a common bank file format.

The Nolan NetSuite Electronic Payments solution simplifies the payables process and the generation of bank files to reduce workload and improve accuracy of bank payments. Through our solution payments, both domestic and international can be generated in a consolidated process that is customized to your specific needs and validated with your banks.