The Cash Manager is the Partner to SnapAP that allows your organization to become electronic and paperless in your Payment Process! With the concept of upfront controls, you will see fewer defects downstream and much improved processing cycle times freeing up valuable time for payment approvers.
Electronic Payment Files
Payment files are sent to the Cash Manager just prior to their due date. The Cash Manager allows you to manage your cash by selectively releasing payments to smooth out your cash flow. It provides an “Electronic Drawer” to store payments that are not released immediately.
Electronic Bank Files
Once payments are released, the Cash Manager creates an electronic bank file and sends it via secure media to your bank so that they can deposit the money for your suppliers electronically. No more paper to file!
Cash Manager is installed and training is provided internally. GSCM then works with you to implement the tool for your suppliers. All you need is to get your suppliers’ banking information. Once the banking information is entered, the Cash Manager sends a notice to your suppliers asking them to confirm the banking information to close the loop. Once confirmed, the process is complete and payments are sent electronically!
The Cash Manager is able to manage all payment types, from EFT, Cheques, Bank Wires or any other Payment Type. The process is as easy to use as on-line banking and is available 24/7. Payments are posted in the GL after the payments are released ensuring more accurate cash information. The system sends suppliers an Electronic Payment Advice when the payments are released to the bank. This all leads to positive relations with your suppliers.