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Brex, the corporate card and spend management platform for startups and enterprises, today announced Brex Embeddedpayments – a new API-driven payments solution that makes it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards.
Deeper software integration is important because, explained Petrzela, “it can significantly streamline workflows and turn what can be manual, labor-intensive process into a fully automated, electronic process, from calculating a bill and issuing an invoice all the way to receipt of payment.”.
Collecting large transactions using traditional payment methods such as cheques and wire transfers typically results in prolonged paymentreconciliation periods, excessive administrative burdens, and significant risks due to human error. This automation minimizes manual intervention and reduces administrative workload.
This integration also provides a secure environment for handling Acumatica payments, ensuring that sensitive customer data is protected through encryption and compliance with industry standards. Its tokenization technology ensures that cardholder data is securely stored, reducing the risk of fraud while maintaining PCI compliance.
With PCI-compliant tokenization supported through integrated payment gateways, NetSuite ensures businesses maintain high-security standards while streamlining payment workflows. Optimize paymentreconciliation and reporting Automating reconciliation in NetSuite enhances financial accuracy and efficiency by reducing manual intervention.
Integration with financial management For a seamless payment integration, ensure the payment processing module is well-synced with accounting and financial modules for real-time data updates. Utilizing automation features for paymentreconciliation can save time and reduce manual errors.
How does NetSuite streamline cash application and paymentreconciliation? NetSuite automatically matches incoming payments with open invoices, reducing manual reconciliation efforts. With integrated payment processing solutions like EBizCharge, transactions are recorded in real-time, ensuring accurate financial records.
Automated invoice collections send timely reminders to customers, helping to minimize overdue payments and improve overall collection rates. Additionally, a robust payment processor should integrate seamlessly with accounting systems, enabling real-time paymentreconciliation and reducing errors in financial reporting.
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