IncedoPay enables banks to empower their enterprise clients to unlock value from their Accounts Payables
Accounts Payable is traditionally a manual, time – consuming, expensive process when it comes to making vendor payments. Enterprises look after tools that offer security, simplicity and and cost effectiveness. Banks are trying to lead the way to innovation for their enterprise clients by providing end - to - end AP Automation solutions.
IncedoPay is an integrated Accounts Payable (AP) automation platform with automated payments, real - time visibility and insights, and enhanced security and compliance. IncedoPay enables banks to create better digital experiences for their enterprise clients while reducing payment processing costs for their customers and suppliers.
IncedoPay transforms the whole accounts payable process for banks by digitizing payments with a world class user experience for its clients. It is available as a white labeled product for banks. It supports multiple deployment models such as on-prem, enterprise cloud and license-based SaaS.
Reduce operational costs
Integrates with legacy ERP systems, eliminates maintenance costs and reduces payment errors.
World class user experience
Self-service portals for stakeholders with superior and personalized client / payee journey.
Quick integration and interoperability with multiple payment rails and real-time payment methods.
Risk and compliance management
Secure payments and reduced fraud, regulatory and compliance risks leveraging predictive analytic.
How it works
About this consultant
How it works
IncedoPay is an innovative and best-in-class integrated SaaS Accounts Payable platform for Banks—that reduces cost of ownership for enterprise clients, and empowers them to increase focus on strategic and value added treasury management activities. It can be configured for B2B, B2C and commercial cards based payments. The system leverages enterprise-grade architecture that can be customized and implemented as per bank’s ecosystem.
A bank’s enterprise clients can transform their accounts payable with IncedoPay’s best-in-class technological innovation, automated payment processes and approvals, and can make the Accounts Payable process agile. It also enables quick integration and interoperability with real-time payment methods that are cashless, cardless or paperless.
The typical stages followed for deployment of IncedoPay are -
- Scoping and solutioning
- Solution customization
- User Acceptance Testing and Pilot
- Roll-out to full scale
IncedoPay helps banks by catering to the needs of its enterprise clients. It provides solutions to the below challenges faced by the enterprises
- Disruption from Digital Natives
- Seamless digital payments
- Increased maintenance and operating costs
- Lack of real-time visibility and transparency
- Limited customization options
- Risk and Compliance Management
1) Identify problem statements
Product SME plans detailed discussion with customer to understand current ecosystem and problems.
2) Platform demo
A demo is planned to showcase how it solves customer's problems.
3) Business model agreement
Detailed business model and scope of work is submitted for the go-ahead and approval.
4) Scoping workshop
Detailed scoping is done with various stakeholders, so system can be customized and configured accordingly.
5) Integration specifications
Customer shares the integration specifications of the system that are required to be integrated.
6) Payment flows
Payment workflows for required payment methods are configured in the system.
7) Front end customization
Customize and configure the front-end of the application based on business requirements.
8) Deliver, train and support
Solution and user training a delivered and necessary support as per SLA's provided.
3rd party integration support
Provide support in accessing specifications, and test environments for all integration points in scope.
Make SME support available
Provide required configurations, clarifications and approvals
Provide Test data
Provide test data, sample incoming and outgoing files.
Provide Infrastructure support wherever it is required for end to end testing and validations.
About this consultant
Incedo is a Digital Transformation expert operating in multiple verticals including banking. Incedo brings deep payments domain expertise and an Integrated Platform and Services to help clients realize accelerated business impact.
Incedo is an AWS Partner with AWS Migration Competency and AWS DevOps Competency designations. With over 3,500 professionals in the US, Canada, Latin America and India, and a large, diverse portfolio of long-term Fortune 500 and fast-growing clients worldwide, including financial services, telecom, product engineering, and life sciences industries.
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