Our webinar series is back for 2023 and as is tradition, our partner delivering the session provides us with a guest blog to whet your appetite. On Thursday 19 January, Zone&Co’s VP of Sales for Expansion Apps, Jurian van Maanen, will be exploring automation of accounts payable and payment management processes in NetSuite with a demo of two Zone Apps.
Traditionally, two of the most manually intensive and frustrating processes for any finance team are accounts payable (processing and storing supplier invoices) and reconciliations (bank, credit card, or PSP/payment gateway).
Why? Well firstly, both are, and always have been, universal accounting requirements – invoices have always been sent/received and paid, and payments have always need reconciled for both internal cash management as well as external auditing requirements.
It seems because these tasks have always been done manually, it is more acceptable or expected that these tasks are still completed manually.
Secondly, there are a number of complexities to both, not least the number of channels where data is delivered to finance teams (emails, letters, PDFs, .CSV files, on-screen statements etc.) which can make it feel difficult to just match ‘A’ to ‘B’ without someone taking a look at it.
The latter point is probably the most pertinent.
Until the last few years, in many cases, the technology available to finance users did not accelerate as quickly, nor was it as affordable, as the technology available to the other players in the process. For the specific examples addressed in this article, you only have to look at how much more complex the AP job became, almost overnight, when PDFs and emails came into play, never mind the evolution of EDI and e-Invoicing.
Likewise for payments, the relentless evolution of not only e-commerce, but omni-channel commerce, has wildly increased the volume and complexity of transactions which need to be reconciled by businesses. Card payments alone present a different challenge, but introduce multiple payment gateways, digital wallets, and split/subscription pricing alongside your other ‘traditional’ payment methods and you can see how quickly things can get out of hand.
That is until now, NetSuite users. In this article, we introduce two of Zone&Co’s leading and most widely deployed SuiteApps:
ZoneCapture (formerly Fast Four Scan & Capture) was originally launched in 2017 based on requests from various NetSuite customers for a solution which was:
Today, fulfilling the entire wish-list above and then some, ZoneCapture is used by 500+ NetSuite customers globally to eliminate manual data entry and improve processes throughout the entire procurement and AP functions of their businesses.
The end-to-end process will be explained during our webinar, but some of the most popular features of ZoneCapture are:
Similar to ZoneCapture and all of the other Zone Apps, ZonePayments has evolved from real-world NetSuite user requirements and requests. With their Bank Reconciliation SuiteApp, Zone&Co has a history of automating reconciliations of bank and credit card statements for NetSuite users globally.
ZonePayments has been developed specifically to integrate NetSuite with payment service providers and automate the reconciliation of payments against corresponding orders and invoices in NetSuite. Driven by Stripe’s rapid expansion, which has reportedly seen the platform grow to process in the region of $400 Billion globally on more than 3 million websites, it is the first payment service provider to be supported by the app.
Like before, more details will be provided during our webinar, however the core advantages of ZonePayments for NetSuite users are:
About Zone&Co
With a range of ‘Built for NetSuite’ SuiteApps, Zone&Co makes life easier for the finance teams of 1,000+ NetSuite customers globally. Whether you’re looking for a solution to complex billing, off-the-self advanced reporting, or a straightforward interface to manage day-to-day tasks such as AP automation, payments, reconciliations or approvals, Zone&Co has got you covered.
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