We already know that Oracle NetSuite ERP optimizes almost all processes in a company, including in the financial area. However, one of the biggest problems still faced by all businesses is the time spent performing bank integrations and reconciliations. Employee productivity decreases significantly due to the effort required to manually perform each of these operations.
Furthermore, the possibility of errors in manually sending each payable and receivable document to the correct bank, in the required format, and verifying each payment, increases in direct proportion to the company's growth.
Analyzing our clients' needs regarding this issue, we developed a product that integrates banks with ERP systems, thus bringing significant optimization to the entire company's financial sector: ACS CNAB.
ACS CNAB enables the sending and processing of payments to suppliers, taxes, employee expenses, and electronic billing to clients registered in the Oracle NetSuite ERP system, through the generation of bank files.
With this solution, the user selects the accounts payable and accounts receivable and triggers the generation of the remittance file; the file is stored in predefined folders in the Oracle NetSuite file repository. Thus, it is only necessary to upload and approve these files in Internet Banking.
During the return process, the user uploads the file generated by the bank to the ERP system, which automatically identifies the transactions by date and value and reconciles them.
ACS CNAB has a process for rescheduling, canceling, and extending electronic billing statements.
Main benefits
- Streamlined creation of bank documents. After manual data entry, accounts payable and accounts receivable are created automatically.
- Fast reconciliation. After uploading the return file, reconciliation is automatic.
Resources
- Generating files for electronic billing remittances, supplier payments, and employee expenses;
- Process for rescheduling, canceling, and extending the payment of electronic billing documents;
- Automation of offsets and confirmation of records based on reading the return file;
- Automatic reading of return files;
- Grouping of accounts payable by supplier.
In addition to this product, we have also developed two other solutions: ACS Boletos (generation and storage of payment slips) and ACS ASI (integration with Banking VAN).
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