How Volopay's automated Bill Pay makes account handling smoother?
Paying bills is a part and parcel of running a business. But it can also become a rather troublesome task, especially when the volume of bills is high and the deadline looms closer than ever.
Volopay is the one-stop destination for all Bill Pay solutions. From domestic to international money transfers, vendor payouts, remittance services to over 160 countries across the globe, the automated Bill Pay feature is an innovative solution that helps customers, companies, and clients all over the world in paying their bills to vendors.
Not only that, our Bill Pay feature assists in maintaining General Ledger (GL) through seamless sync with renowned accounting software like Xero, Deskera, Quickbooks, NetSuite, and more.
Do you struggle to pay your bills on time? One of the reasons for this delay could be the usage of diversified channels for paying bills. When you are paying one vendor with cash, another with cheques, and yet another with a business credit card, slip-ups are common. Volopay provides a unified payment platform to help you pay your bills across the globe without missing a beat. Simplify and streamline your business payments by collating them all onto one single source. Simply top up your company capital onto Bill Pay and keep all your payments safe and secure.
Volopay’s vendor matching feature helps you build a veritable network of reliable and trustworthy vendors and helps you cut your supply chain costs down by negotiating better deals such as early payment discounts. Get a bird’s eye view of your entire vendor roster, with relevant data and sensitive information completely secure. You can access individual vendor history, along with any future automated bill payments scheduled. Reduce reliance on your employees and provide more precise and automated solution.
Our department feature gives you an overview of the company capital allocated to each department. It is a budget dedicated to a particular department for a particular period of time. The funds can be further utilized to automate bill payments to vendors. With Volopay, you can process vendor payouts and get a clear insight into your departmental budget seamlessly. Get updates in real-time and provides you a transparent view of who spent how much and where, and adjust accordingly.
Volopay lets you submit, process, and approve invoices in one place and sync your paid invoices to your accounting software. Reduce the reliance on paper-based invoices with a physical location to put them, as well as digital invoices that are buried under a mountain of emails. Simply submit them in the system once, set up automated Bill Pay, and forget it!
Are you tired of paying high FX charges for all international payments, with nothing in return? Volopay’s most remarkable feature is our lowest FX charges along with a massive cashback on every FX transaction. This means that every time you process FX business payments, you gain a portion of it back!
Volopay’s Bill Pay feature comes equipped with multi-level approvals up to five levels for each transaction. You can design a customized approval workflow for each bill payment process and assign it to more than one approver into any order of verification authority.
Volopay’s bill payment process is extremely simple and easy to execute. There are two methods of making bill payments. One is non-SWIFT/local transfers to send funds in their local currencies. The other is SWIFT mode to send funds in USD to other regions. SWIFT refers to an expansive messaging network used by banks and other NBFCs to accurately and safely send and receive money transfer instructions.
One of the most important components of Bill Pay is automation. Set up automatic payments to all your vendors from one single platform. With automated billing, you can keep track of all your future payments with our live dashboard. You can also switch from automatic recurring payments to manual business payments. Automated payment system comes with push notifications and email alerts to tell you whenever a bill is due or has been automatically paid.
Adopt Bill Pay software combined with a spend management solution for your business. From vendor and invoice management, automated approval workflows to accounting integrations.
Volopay’s Bill Pay features a host of nifty solutions that take away the time-consuming process of manual data entry and workflow setup
Set up an automatic payment through one-click bill creation. All you have to do is upload your invoices to the platform and make manual data entry a thing of the past.
One of the biggest issues in the bill payment process is duplicate invoicing which if left unchecked, can create a big dent in the company capital. With Bill Pay, automatically detect business payments that are either identical or too similar.
In case you do not know your vendor’s payment details, don’t worry! Email your vendor for their bank account details and will set up automatic payments when they upload the bank details.
Set up multi-level approval setups with real-time approval request notifications. The approval gets automatically routed to the next available approver or backup approvers in case others are not available. When business payments get processed, the payment confirmation and transaction details can easily be downloaded or exported to the accounting software of your choice instantly, leaving a crystal clear audit trail for you.
Our unlimited virtual cards are great for setting up automatic recurring payments. You also enjoy amazing cashback offers of up to 5% on all FX transactions, making spending a way to save! Our virtual cards can even get added into your Google Pay app to do payments at POS machines as well. For vendors who do not accept cards, you can do cross-border B2B money transfers, remit services, and even set up automatic payments for recurring salaries of remotely-working employees.
Automatically sync your transactions to the accounting software of your choice, such as Xero, QuickBooks, Netsuite, Deskera, and MYOB. Unlike traditional legacy accounting systems, Volopay requires little to no manual data entry and integrates into your accounting software so well that you get real-time updates on expenses as they occur. The trigger feature helps you set up autofill information for any vendor, user, department, or card. Just fill in the information once and let our magical innovation do the rest!
Manual accounting is a time-consuming and chaotic process and is highly prone to human error. Volopay’s automated Bill Pay makes business payments, invoice management, and AP workflow smooth.
Allocate a certain fund value for early payments, set your expected rate of return and we will surface the offer to your suppliers based on all the invoices we have collated.
Auditing your business payments is crucial in maintaining transparency in your accounting process. Instead of waiting weeks for manual data entry computation, simply audit your transactions. Gather all necessary documentation required to process a transaction so your accounting team never has to chase after invoices and receipts ever again.
Volopay’s bill payment process fine-tunes your AP workflow to run at optimal efficiency. Our advanced multi-level approval workflow for manual and automated Bill Pay adheres to company expense policies with real-time notifications for approvers and any employee expense non-compliance.
Our unlimited virtual cards come with a unique 16 digit number, CVV, and an expiration date, backed with VISA’s powerful security measures. Keep your company capital safe from theft and fraud by using virtual cards instead of your business credit card. Create one-time burner cards for trial SaaS subscriptions or recurring ones for necessary SaaS tools and ad spending. Earn cashback of up to 5% on all FX transactions!
A centralized vendor management system helps you keep track of all vendor data and protects it from getting lost or mixed. Our software acts as a central hub for your entire supplier database so you never have to enter bank details for recurring vendors over and over again.
We are committed to changing the way businesses pay. Our legacy payment systems cannot keep up with the dynamic corporate environment anymore. The all-in-one spend management solution for businesses replaces multiple payment methods for multiple vendors. Our Bill Pay simplifies and streamlines corporate payments.
With one-click bill creation, duplicate invoice detection, automatic invoice data capture, flexible and rewarding payment options, seamless accounting integration with leading software such as Xero, QuickBooks, Netsuite, Deskera, and MYOB and an unbelievable cashback of up to 5% on all FX transactions — Volopay truly does it all!
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