Netcash for Creditor Payments and Security Rating
Netcash is a unique application that assists you to verify and validate bank account details and bank account numbers.
In cases where customers apply for credit from you, you can verify the customers’ credit rating before granting the credit.
Supplier banking details can also be verified and validated to confirm that any payments that are electronically paid to suppliers will be paid into the correct account.
With Netcash, you will create a cash book batch with all the required payments that are calculated from the supplier age analysis which is sent to Netcash. Netcash will distribute the respective amounts to the suppliers using the banking information from the supplier masterfile. You will in turn only transfer the total of all the supplier amounts to Netcash. Using this process, you have one transfer instead of multiple transfers.