Purpose
1. Eliminate manual intervention by automating supplier payment schedule creation and execution for aggregate suppliers in construction materials.
2. Ensure timely, accurate, and policy-compliant payments based on invoice data, approval status, and payment terms.
3. Improve financial transparency, cash flow control, and auditability across finance and account reconciliation processes.
Trigger Conditions
1. New approved supplier invoice received in accounting system.
2. Completion of goods receipt note matching the invoice.
3. Payment due date approaching as per contract terms.
4. Supervisor approval of consolidated payment batch.
5. Exception handling event or compliance alert raised in ERP.
Platform Variants
1. SAP ERP
• Feature/Setting: SAP FI—Set up vendor invoice workflow, configure F110 for automatic payment run.
2. Oracle NetSuite
• Feature/Setting: SuiteFlow—Automated payment approval routing, Scheduled Payments API call.
3. QuickBooks Online
• Feature/Setting: Bill Pay API—Automate bill creation and schedule; enable automated reminders.
4. Xero
• Feature/Setting: Batch payments with OAuth2 API; configure auto-approval for specified suppliers.
5. Microsoft Dynamics 365 Finance
• Feature/Setting: Vendor payments workspace, configure Power Automate for payment scheduling trigger.
6. Zoho Books
• Feature/Setting: Scheduled payments via Vendor Bills automation API; notification setup.
7. FreshBooks
• Feature/Setting: Automated recurring expense and bill payments; Webhooks for payment status.
8. Sage Intacct
• Feature/Setting: Vendor Payment API; set payment approval rules and batch triggers.
9. Tipalti
• Feature/Setting: AP Automation; configure auto-scheduled supplier payments and bank integration.
10. Bill.com
• Feature/Setting: Scheduled Payments Workflow, automate payment approval tiers.
11. Stripe
• Feature/Setting: Scheduled Payouts API, configure payment release based on webhook triggers.
12. Plaid
• Feature/Setting: Auth/Payments endpoints to trigger and validate supplier payments.
13. Brex
• Feature/Setting: Expense management automation; scheduled ACH/wire payments setup.
14. SAP Ariba
• Feature/Setting: Invoice automation rules; enable Payment Proposal API for schedule triggers.
15. Coupa
• Feature/Setting: Invoice & Pay API; workflow configuration for periodic supplier payouts.
16. Workday
• Feature/Setting: Accounts Payable Automation; schedule batch supplier payments via integration connector.
17. Paypal Business
• Feature/Setting: Payouts API; configure recurring and scheduled mass payments.
18. Wise Business
• Feature/Setting: Batch Payments API; schedule weekly or milestone-based supplier disbursements.
19. Payoneer
• Feature/Setting: AutoPay schedule; API for bulk vendor payments.
20. JD Edwards
• Feature/Setting: Accounts Payable Automation – set Payment Processing Parameters for suppliers.
21. Odoo
• Feature/Setting: Automated vendor bills and scheduled payments in Accounting module.
Benefits
1. Eliminates late payment penalties and improves supplier trust.
2. Reduces administrative overhead and errors via hands-free operation.
3. Enforces compliance with company policy and audit trails.
4. Enables real-time insights into cash flow and outstanding liabilities.
5. Scales seamlessly as supplier base grows or contract terms evolve.
Finance & Account Reconciliation