HSBC and Oracle NetSuite unveiled the only solution that embeds banking services into a cloud enterprise resource planning (ERP) system, NetSuite AP Automation.
NetSuite AP Automation helps organizations improve profitability by making it easier and faster to process invoices and pay vendors, all from within NetSuite. As a result, customers can better control outgoing cash flows and easily scale end-to-end AP processes.
This is the largest fully embedded Banking as a Service deployment into a globally recognized cloud ERP system.
The launch of automated payment services with NetSuite makes payment processing simpler, faster, and more accurate. From within NetSuite, customers can determine precisely when and how to pay suppliers, ensure control over outgoing cash flow, and take advantage of early payment discounts.
Eligible transactions completed in NetSuite with an HSBC virtual credit card will earn credit, which further reduces operating costs and turns accounts payable from a cost center into a revenue generator.
NetSuite AP Automation is now available in the US as part of NetSuite’s SuiteBanking – the first unified suite that embeds financial technology into a cloud ERP.