Payment & Invoice Processing AutomationPurpose
1.2. Automated update of invoice records and ledger entries upon receipt or failure notifications from banks.
1.3. Automate digital reconciliation, providing transparency and audit-ready trails for wholesale agriculture transactions.
1.4. Eliminate manual status checks, automating customer alerts for paid/unpaid/failed banking events.
1.5. Enable automated pending payment reminders, credit control escalation, and cash-flow forecasting.
Trigger Conditions
2.2. Invoice marked for payment in ERP, triggering banking status inquiry.
2.3. Automated batch schedules for daily reconciliation runs.
2.4. Customer initiates payment through online portal, automating API request for real-time status.
2.5. Manual override action in accounting system submits automatable payment status request.
Platform Variants
• Feature/Setting: "PaymentIntents" API; automate webhook on "payment_intent.succeeded" for real-time payment confirmation.
3.2. PayPal
• Feature/Setting: "Webhook Events"; configure "PAYMENT.SALE.COMPLETED" event for automated status sync.
3.3. Plaid
• Feature/Setting: "Transactions API" with webhook, automates monitoring of incoming transfers.
3.4. QuickBooks
• Feature/Setting: "Payments API" for automated payment status polling and sync to invoice.
3.5. Xero
• Feature/Setting: "Bank Transactions"; automate "GET /BankTransactions" polling for status updates.
3.6. SAP
• Feature/Setting: "SAP Bank Communication Management (BCM) API"; automate posting and retrieval of payment status.
3.7. Oracle NetSuite
• Feature/Setting: "SuiteTalk SOAP Web Services," automate bank payment status mapping via batch sync.
3.8. Revolut Business
• Feature/Setting: "Business API / Transaction Events," webhook on incoming/outgoing payment.
3.9. Wise (formerly TransferWise)
• Feature/Setting: "Webhook for Transfers"; automate update on payment completion.
3.10. HSBC Connected Banking
• Feature/Setting: "Transaction Notification API," subscribe to inbound/settlement events for automation.
3.11. ICICI Bank API Banking
• Feature/Setting: "Account Statement API"; automate periodic fetch for payment reconciliation.
3.12. J.P. Morgan Access
• Feature/Setting: "JPM Developer API: Payments & Receivables," automate polling for payment lifecycle status.
3.13. Razorpay
• Feature/Setting: "Payment Webhooks," automate on "payment.captured" event for ERP update.
3.14. BBVA API Market
• Feature/Setting: "Notifications API," automate post-settlement alerts for reconciliation logic.
3.15. Intesa Sanpaolo API
• Feature/Setting: "Payments Status API," properly automate GET call on transaction status.
3.16. Citi API
• Feature/Setting: "Citibank Global API portal," automate webhook triggers for wholesale payment updates.
3.17. FIS Global
• Feature/Setting: "RealNet Connect REST API," automate status-pull on all B2B payments.
3.18. Square
• Feature/Setting: "Payments API Webhooks," automate trigger on status change.
3.19. Sage
• Feature/Setting: "Bank Feeds API" automates pulling bank transaction status.
3.20. Tink
• Feature/Setting: "Transactions – GET /accounts/{id}/transactions" to automate status extraction for all connected banks.
Benefits
4.2. Enables real-time updating for cash-flow, automating better financial planning.
4.3. Automated alerts to sales, credit teams, and customers improve collections.
4.4. Creates audit-ready, automated payment logs for compliance.
4.5. Boosts customer satisfaction through automated, proactive communication on payment statuses.
4.6. Reduces DSO by automating payment reminders and overdue escalations.
4.7. Minimizes fraud and duplication by automating cross-system data validation.
4.8. Automates support for multiple currencies and banking partners in wholesale agricultural operations.