Client Overview:
USA-based client in Washington D.C. deals in publicly traded software, data, and media business and manages its Accounting and Finance divisions using NetSuite Development Services.
Problem Statement:
The client encountered challenges in managing customer payments from customers as well as processing vendor payments and employee expense/salary payments internationally with various institutions.
Solution Provided:
Customized the Electronic Fund Transfer file format and updated the configurations of the bank (Wells Fargo, Royal Bank of Canada, HSBC, etc.) in NetSuite as per the required Bank file format and created a Host-to-Host integration (NetSuite to Bank Server) to process the vendor payments and employee expense/salary payments by creating a payment batch file with the NetSuite Approval process based on the payment limits.
We customized the Dunning module to help the client to send an email notification to the customer for the Invoices based on the due date.
Benefits to Client:
1. It helped the client handle payments internationally.
2. It aided the customer in batch-wise payment processing
3. Time savings - Many payments can be handled simultaneously.
4. Assisting the client in sending the customer a final email for their outstanding payments to using NetSuite Implementation Services.
