Next Generation Payment Management Tools

The full value of electronic AR and AP process management does not end at the obvious efficiencies gained through automation. Electronification of AR and AP processes and data provide opportunities for additional capabilities to view, control organize, and manage the processes from a broad perspective. While significant value can be realized from pure automation, a solution that provides only for the obvious automation of process misses significant value available at the broader and strategic levels.

If processes are not available for view and control through a central interface and data is not available rapidly, then much of the efficiency is lost because the traditional problems associated with disparate processes and data formats are still impacting productivity. While automation may increase the number invoices and payments being processed, your AR/AP team faces the same challenges finding and accessing the data required for processing, as well as tracking and maintaining the process as a whole. This problem may actually be exacerbated by increased volume made possible through automation. Without sophisticated tools to track and manage the processes there is additional possibility for error and fraud.

Harbor Payments solutions offer value beyond the obvious benefits of automation. Our next generation solutions provide new ways to more effectively manage the AR/AP lifecycle. Our solutions include the features that will be demanded by the industry after the immediate benefits of automation become the norm.

Time Saving Organization Tools:

• Consistent, consolidated, centralized summary view and management of all AR and AP processes and banking relationships through a single web enabled interface
• Your AR/AP team members and management staff have at-a-glance status and summary views dynamically tailored to their specific responsibilities
• The Harbor Console gives the individual operator a graphical summary view of the status of all activities as well as a filterable and sort-able list of items requiring their attention
• Through the Harbor Console your team members have single click drill down access to view and control of the process details
• The central interface alerts operators as items become available for action
• With the Harbor Console your AP/AR team is always organized, no time is spent searching through threads, files or email to find relevant actionable information

Administrative Controls and Tracking:

• Alerts/risk limits/processing parameters increase security and reduce errant double payments while increasing control
• Total disbursement limits may be set per operator, per vendor, per business group, per department, individually, or by combination
• Alerts notify responsible operators and managers when spending approaches limits
• At-a-glance summary charts display scheduled, cleared and projected disbursement activity by multiple parameters with single-click drill down to view and control of detail
• Processing parameters may be set to increase control and specify clearing banks
• Harbor Payments Solution provide a centralized payment warehouse for all corporate disbursements improving cash management control

Self Service Dispute Resolution :

• Beyond automatic routing, status tracking and email collaboration, Harbor Payments solutions provide true automation of the dispute resolution process
• Harbor Payments solutions provide your vendors with self-service dispute resolution websites with line item detail control
• Your trading partners are automatically notified of disputes as they are found in the match process
• Automatic emails are sent to vendor describing the nature of the dispute and a link to the invoice in question available via the web
• The vendor may adjust the specific line item(s) under dispute or offer settlement separate of the specified line item(s) for faster payment
• When the trading partner’s representative has adjusted the invoice online, your team member responsible for the invoice is notified immediately via email and through their summary status web interface
• Because the match process and routing for dispute resolution is an automated process performed on every incoming invoice, your team may actually receive notification of dispute resolution before they ever need to view the dispute itself
• Your AP team spends much less time in calls or emails with trading partners and your trading partners enjoy faster payment