Vendor Payment Management
Easy Tracking & Payment Collection
Automate your accounts payable and vendor payment workflows by centralizing all processes on one platform.
FINAC Vendor Payment Can Manage
Custom Workflows
Set up advanced approval processes that fit your needs perfectly—Automate decisions to make things run smoothly.
Boost Your Profitability
Prevent losses from GST ITC non-compliance. Track budgets and department costs to control spending.
Smooth Integrations
Keep your financial data synced in real time and let automatic reconciliations handle the details for accurate accounting.
FINAC Simplifies Your
Vendor Payments Management Processes
- Create and Send Invoices
- Create and Manage Contracts
- Make and Receive Payments
- Generate and Export Reports
- Compliance Management
- Customer Relationship Management
- Automatic Input Tax Credit Checker
- Backup and Restore
Manage all aspects of your
vendor payments
Create and Send Invoices
You can easily generate and send professional invoices to your vendors. This feature streamlines your billing process, reduces manual errors, and ensures timely payments.
- Quickly create invoices with branding, color, logo , & customizable templates and pre-filled vendor information.
- Send invoices directly to vendors and monitor their status in real-time.
- Set up automated reminders for overdue payments to maintain cash flow efficiency.
Create and Manage Contracts
Easily create, customize, and manage all vendor contracts in one secure location. Use templates to draft agreements quickly, track key milestones, and ensure compliance with all terms, reducing the risk of disputes.
- Quickly draft contracts with pre-built, customizable templates.
- Securely store and access all contracts in one place.
- Receive notifications for renewals and key contract dates.
Make and Receive Payments
You can make and receive payments directly through FINAC, with automated scheduling and real-time tracking to enhance cash flow and vendor relationships.
- Supports multiple payment methods like bank transfer, check, upi, credit, debit card for vendor convenience.
- Automatic Reconciliation - Matches payments with invoices to reduce errors.
- Payment Controls - Set limits, approval workflows, and access levels for security.
Generate and Export Reports
Easily generate detailed financial reports to gain insights into your payment activities. Finac allows you to customize and export reports in various formats, helping you make informed decisions and maintain transparency with stakeholders.
- Customizable Reports to focus on specific data, like vendor payments or outstanding invoices.
- Multiple Formats - Export reports in Excel, PDF, or CSV for easy sharing and analysis.
- Real-Time Data - Access up-to-date information for accurate financial tracking.
Compliance Management
Ensure all vendor transactions meet regulatory requirements with built-in compliance management. FINAC helps you monitor and enforce adherence to legal standards, reducing the risk of non-compliance and associated penalties.
- Automated Compliance Checks - Regularly verify transactions against regulatory requirements.
- Documentation Storage - Securely store compliance-related documents and records.
- Audit Trails - Maintain detailed logs of all compliance activities for transparency and review.
Customer Relationship Management
Enhance your interactions with vendors through integrated Customer Relationship Management (CRM). This feature helps you track communications, manage relationships, and build stronger partnerships by providing a complete view of vendor interactions and history.
- Access comprehensive profiles with contact details, transaction history, and communication logs.
- Record and review all interactions and communications for better relationship management.
- Set reminders and automate follow-up tasks to stay on top of important vendor engagements.
Automatic Input Tax Credit Checker
Automatically verify and optimize your Input Tax Credit (ITC) with FINAC. It ensures that you’re claiming the correct credits on eligible expenses, reducing errors and ensuring compliance with tax regulations.
- Real-Time Verification - Automatically check ITC claims against purchase records for accuracy.
- Error Reduction - Minimize mistakes by ensuring all eligible credits are captured.
- Regulatory Compliance - Stay compliant with tax regulations through accurate ITC management.
Backup and Restore
Safeguard your data with automated backup and restore capabilities. FINAC ensures that your vendor payment information is securely backed up regularly and can be easily restored in case of data loss or system issues.
- Automated Backups - Schedule regular backups to protect against data loss.
- Easy Restoration - Quickly restore data to its previous state with minimal downtime.
- Secure Storage - Store backups securely to prevent unauthorized access and data breaches.
