BB&T Payables and Invoice Management
Streamline accounts payable, reduce costs, minimize risk and improve your internal accounting.
Is your accounts payables team weighed down by outdated manual paper-based processes, weak controls, and insufficient protection from payment risk? Are they chasing approvals, presenting piles of invoices for signatures, printing paper checks, stuffing envelopes, supplying postage, and finally bringing the resulting stack of payments to the local mailbox?
Today, your businesses should demand an efficient AP department. Introducing BB&T's Payables and Invoice Management. Now your business can experience the benefits of increased AP efficiency, reduced processing costs, greater control of outgoing cash flow, minimized payment risk, and improved internal accounting records.
In the next few minutes, we'll show you what BB&T's Payables and Invoice Management fully integrated AP platform can do for you. Automate your manual data entry with our Invoice Capture feature that automatically extracts data from vendor invoices. You can take your AP process paperless and have your vendors email invoices directly into the system for capture.
Once an invoice is in the system, you can easily route it to the appropriate approver. If multiple approvals are required for high-dollar invoices, you can set up hierarchical approvals based on the vendor or other invoice characteristics. Upon approval, the invoice can be synced back into your accounting system.
When you are ready to submit invoices for payment authorization, simply select the ones you want to pay. Enter the amount, schedule the payment date, select the payment method, and press Submit. Whether sending a check, paying electronically via ACH, or using a credit card to pay vendors, you'll follow the same approval workflow.
BB&T's Payables and Invoice Management solution features controls such as Segregated Payment Approval and Check Positive Pay Support that can help protect your business from fraud. In the Payment Approver Application, you have full visibility into invoice and payment details as well as any supporting documentation. With a simple click, you can approve payments wherever you are for processing, or you can send them back for corrections.
Once your payment is approved, it is sent to your vendor directly from your bank account, and remittance details are emailed to your vendor. Then payments are posted back to your accounting system. Eliminate the need for dual data entry. It's easy to automate your accounts payable process with BB&T's Payables and Invoice Management. Let's streamline your accounts payable process, reduce your costs, offer you greater control, minimize payment risk, and improve your internal accounting.
Now your business can experience the benefits of automation. Contact your local BB&T relationship manager or call us at 800-774-8179.
The information provided is not intended to be legal, tax, or financial advice. BB&T hopes you find this information useful but we cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided to assist you in estimating the approximate costs associated with any bank activity. Your actual costs may vary. You should consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.
Branch Banking and Trust Company, Member FDIC.
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Branch Banking and Trust Company is now Truist Bank. Learn more.
BB&T and SunTrust have merged to become Truist. Both institutions will continue to offer independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees and pricing. Our friendly teammates at your local SunTrust branches will be happy to walk you through their respective products. You can also learn more by contacting them at 800-SUNTRUST or SunTrust.com.