Get your American transactions done in a New York minute
Electronic Cash in / Cash out files
Paper checks are still a common means of payment in the USA, even though ACH transactions are on the up and up in business to business applications, in particular. These payment methods are time consuming to process manually, therefore your bank offers electronic files for receipts, payments and bank statements, each with their own file layout. Sounds good, but how to overcome the developing of the different electronic file formats for each bank/payment type? Data validation? Automatic reconciliation? Automatic processing of miscellaneous cash? And how about maintenance when you upgrade Oracle E-Business Suite or getting new electronic banking software in the future?
APRO Banking Gateway
The APRO Banking Gateway is specially developed to process all incoming and outgoing American cash flows, regardless of format or bank, using the standard Oracle interface. Painstaking conversions are a thing of the past as the system supports all typically American files, like lockbox files, electronic bank statements and credit cards, and effortlessly creates ACH direct debit, ACH payment, wire, positive pay and electronic cheque files. It automatically streamlines the entire financial process by matching receipts to invoices and reconciling cash flows with bank statements.
Process
So, how does this solution work, then? The APRO Banking Gateway links up to the Oracle E-Business Suite to automatically process incoming and outgoing cash flows:
• Incoming Cash Flows: The APRO Banking Gateway is a standardised solution that recognises all known formats (and will be updated to support any newly developed ones). It automatically extracts and matches lockbox files, AP payments and GL entries for easy processing in Oracle Financials. The program also processes miscellaneous transactions like interest, bank charges and inter-company cash flows through text recognition.
• Outgoing Cash Flows: The APRO Banking Gateway converts standard Oracle payment and direct debit (remittance) batches into any desired format for banks around the world. The system features a payment hub for batch approval and a sound security system. It supports all standard file transfer protocols.
The APRO Banking Gateway can be installed and implemented within as little as five days, including key user training.
Quick, Easy, Efficient
A streamlined, intuitive system. The APRO Banking Gateway is a user-friendly, automated application that supports all US banks and formats for smooth, secure processing of all your company’s cash flows. This standardised solution requires no complicated customizations whatsoever. Get more our of your Oracle E-Business Suite:
Get your American transactions done in a New York minute