Financial controls – Efficiency, security and compliance in one solution
How do you know you’re paying the right payee? Australian Banks don’t match Payee Names with BSB and Account Numbers so they can’t verify before you pay. This means your organisation is living with the risk of fraud due to incorrect payment details. eftsure’s cloud-based solution mitigates this risk by verifying payee details from vendor onboarding to payment file reviews to point of payment.
With eftsure you can:
- Avoid paying fraudulent invoices: Whether internal or external, many scams start with a fake invoice. eftsure matches the invoice information with Australia’s largest database of verified bank and business details.
- Secure Progress Payments: Progress payments are particularly vulnerable to cybercriminals. They happen often, are usually large amounts and are under time pressure. eftsure will never be compliance about any payments
- Secure vendor onboarding and management: Use eftsure’s web portal to build custom onboarding forms and invite suppliers. eftsure will then independently verify all required suppliers details making compliance and Account Payable processes more efficient and secure.
- Check Tax statusses: Is the vendors ABN and GST registration status valid and current, has it been cancelled, does it match to their trading name(s)? We check when the vendor is onboarded and every time a payment is made.
“We are receiving increasingly sophisticated attempts at electronic fraud. eftsure provides state of the art protection against those frauds. Its simple to use … I won’t authorise it unless I know its been checked by eftsure.”
Michael Gowing, Group Financial Controller, Toga Group
eftsure construction customer ROI
Security or efficiency, why not both?
Save 28 minutes per new supplier
Every time you onboard a supplier.
Save 59 seconds per line item
Save a minute per line item per pay run while improving security at the same time.
25% to 0% VMF anomalies
Reduce anomalies in VMF by using third-party verified data.