Intacct customers now have online access to a bill payment system that, at the push of a button, arranges for the immediate payment of dozens or even hundreds of bills. In addition, because the bill payment service is fully integrated into the Intacct system, customers are able to browse through bills in their accounts payable systems, select bills for payment based on early payment discounts or other criteria, while their general ledger accounts update automatically. Customers who want to use the new Intacct bill payment service can easily access it from within the Intacct system. Bill payment information is securely forwarded over the Web to Payformance, which prints checks bearing the customer's logo, puts them in envelopes, then stamps and mails them the same day. Users can also elect to extend the electronic bill-paying circuit by taking advantage of wire transfer payments that eliminate the need to mail paper checks.
Wire transfers deliver payment to creditors in one business day.
By outsourcing the labor needed to print, fold, stuff, and mail each check, businesses can realize a significant savings. With this partnership, Intacct customers can perform this job at lower cost and with no effort. It is a dramatic example of the benefits of web-based services. The Payformance alliance is the latest of several strategic alliances that integrate key services into Intacct's core accounting offering. The alliances enable Intacct subscribers to take advantage of the benefits of the Web for such tasks as online auditing, professional billing and expense reporting, payroll, and human resource services.