Say goodbye to manual data entry—automate, validate, and upload bulk payments seamlessly.
Pain Point
A client providing outsourced accounts payable (AP) services struggled with a time-consuming and error-prone payment process. Each payment required manual data entry into the bank’s portal, increasing the risk of mistakes and inefficiencies. Their key challenges included:
- Manual Data Entry: Each invoice had to be keyed in one by one, slowing down processing times.
- Error-Prone Processes: Human errors, such as typos in payment details, led to delays and corrections.
- High Verification Effort: Payments required additional checks, consuming valuable time and resources.
- Managing Multiple Bank Accounts: Handling payments across different clients and financial institutions made reconciliation cumbersome.
What if There’s a Better Way?
To streamline their AP process, Backbone implemented an automated bank bulk payment tool that:
- Extracts outstanding invoices directly from Xero, ensuring accuracy with no manual data entry.
- Generates a bank-ready bulk payment file, formatted to meet the bank’s specifications, allowing direct upload.
- Applies pre-set validation rules to flag potential errors
- Supports multiple bank accounts and entities, enabling firms to manage AP seamlessly across clients.
Results: Faster, Error- Free Payments
With automation in place, the client significantly reduced processing time and eliminated manual errors. Payments could now be selected in bulk and uploaded in seconds, allowing the finance team to focus on higher-value tasks rather than spending hours on data entry.
By removing inefficiencies, Backbone enabled them to process payments faster, more accurately, and at scale—because in today’s world, no one should be stuck keying payments manually.
📹 Watch the demo below to see it in action! 🚀
#AccountingMadeEfficient #Automation #AccountsPayable #Xero
