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Solutions
: Payment : Payment Harbor |
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The Payment
Harbor solution is robust, modular and flexible. The following
process outline shows functionality available through Payment Harbor.
Functionality is available as modular components that integrate
with your existing systems. With Payment Harbor the final solution
is defined by the client, not dictated to the client.
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The
Payment Harbor Process |
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- 1 - Capture
- The client's accounts payable, payroll, ERP, or
other back-end systems output the payment data files
- Payment Harbor captures
the data files and converts them to a central, standard
format
- Payment Harbor
is pre-integrated with SAP, PeopleSoft, Baan,
Oracle, Lawson and many others through an archived
library of over 1,000 installs
- Payment Harbor's
pre-processor (or mapper) validates payee information
- 2 - Aggregate
- Captured, converted
data files are encrypted, validated and loaded
into the centralized Payment Harbor database for
all payment data
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This centralized payment database may either
reside at the client's location or as a managed
solution by Harbor Payments
- 3
- Format
- Payment
output is initiated by the user through
the web-based dashboard or automatically
initiated using user-predefined internal
logic
- Payment Harbor outputs data files specifying
authorization, type of payment, timing, payment medium (check, ACH,
EDI, PayCard, etc.)
- 4
- Route
- The
authorization process, if required,
is electronically routed to the appropriate
user through email or the web-based
dashboard
- All
transactions, past and pending action,
appear on the user-specific dashboard
- Alerts notify specific users of
transactions in need of attention
- Processing parameters increase
control and specify clearing banks
- 5
- Execute/Originate
- After
authorization, the payment files are
routed to the designated payment processor
- Payment
Harbor facilitates internal printing
both as centralized and/or remote,
outsourced print and mail, ACH, EDI,
wire to banking partners and third-party
networks
- Payment
Harbor provides warehousing of authorized
payments for later payment date for
increased cash control
- Batch
wire capability is available to reduce
banking fees
- User-defined
automatic risk limits are provided
to increase security by holding origination
of high dollar payments or abnormal
payment quantity
- Payment
Harbor's Fund-on-Issue program offers
guaranteed interest yields on un-cleared
funds, during settlement
- 6
- Reconciliation, Tracking and Exception
Handling
- Extensive
data dissection and reporting allows
for in-depth spend analysis and control
- Querying
is available on over twenty data fields
- Comprehensive Positive
Pay check for data entry errors which cause 90% of exceptions
- Following
check clearing, same-day access to
check images improves customer service
and record keeping
- Real-time
Internet access to stops and voids
improves efficiency and convenience
- Age
of payment data is tracked to address
escheatment issues and reduce administrative
burden
- Expensive
stops can be avoided by setting minimum
values of stopped payment, then automatically
deferring to payment voids
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