EFT provides a Positive Payback

The Company

The client this case study relates to has a single Sage Intacct implementation that is used to manage around fifteen related companies.

These companies all pay vendors by cheque rather than electronically, but use Positive Pay for enhanced security. Details of cheques issued are sent to the company's bank, which will only honour presented cheques that match the details provided.

The parent company wanted to implement Orchid’s EFT Processing for Sage Intacct to streamline their Accounts Payable processing, knowing that Positive Pay is one of the many file types it supports.

The Challenge

Each of their multiple companies makes their own banking arrangements, often using different banks.

This created an unusual challenge when implementing EFT Processing.

  • In a standard EFT Processing for A/P setup, the EFT-related fields for a given Vendor are determined by the EFT file format being used, which in turn is specified by the bank for which the EFT file is to be generated.
  • In this case, the bank being used, and hence the EFT file format and associated  Vendor EFT fields, vary depending on the company making the payment.

The Solution

The flexibility built into the design of Orchid's EFT Processing module allowed it to handle this.

A custom EFT format file was created. Conditional processing was embedded into this file that allowed the output to be dynamically generated in the format required by the paying company’s bank.

This allowed multiple EFT file formats to be supported for the same Vendor, getting around the usual one-to-one relationship.

The Result

The client was able to automate the creation of Positive Pay files for transmission to multiple banks with confidence that the correct file format was being used.

They now benefit from considerable time savings, plus reduced risk of human error, despite their unusual setup.

We call that a positive payback!

A complex multi-company setup wasn't going to get in the way of implementing a Positive Pay EFT solution for this client.


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