eftsure

Eftsure is a comprehensive B2B payment protection software designed to mitigate the risk of payment error, fraud, and cyber-crime. According to the vendor, Eftsure offers a solution to safeguard business payments and ensure the accuracy and security of payment transactions. It caters to businesses of all sizes, from small enterprises to large corporations. Professionals in finance, accounts payable, risk management, procurement, compliance, audit, and government agencies and healthcare organizations can benefit from Eftsure's advanced features and functionalities.

Key Features

Supplier Management: Eftsure provides secure and efficient onboarding, verification, and management of supplier information. It simplifies supplier invitations, form completion, and document collection. The software enables streamlined verification and approval of supplier information, including ABN and GST registrations.

Payment Protection: Eftsure helps identify and prevent errors, fraud, and scam attempts before releasing funds. It offers real-time alerts throughout the procure-to-pay process and ensures secure payment preparation. The software includes early detection of fraudulent invoices during eft payment preparation and offers automated verification of ABA files or single eft payments.

Segregation of Duties: Eftsure allows for a digital interface to manage visibility and assigned tasks. It facilitates user setup with tailored permissions and roles. The software ensures data security by providing partial access to specific users and automates notifications for new suppliers, bank account changes, and document expiries.

Audit and Reporting: Eftsure centralizes reporting to simplify audits and ensure compliance. It provides comprehensive management and monitoring of payment and supplier data. The software offers visibility into supplier lists, detecting any anomalies and ensuring accurate and up-to-date supplier information. It also generates detailed payment reports for financial control, fraud detection, and compliance purposes.

EftsureID: Eftsure enables secure collection of invoice payments. It mitigates the risk of invoice impersonation fraud and protects accounts receivables. The software prevents hackers from impersonating organizations and provides customers with an additional opportunity to verify the authenticity of invoices before payment. It safeguards identity and reputation by preventing fraudsters and scammers from impersonating users.

Integrations: Eftsure enhances security and streamlines payment verifications through integrations. It utilizes REST APIs for automated data exchange and real-time updates. The software securely transfers payment files using Secure File Transfer Protocol (SFTP). It integrates with existing systems and software to streamline processes and reduce errors, providing access to leading brands.

User set-up control: Eftsure allows users to customize information submission for approval, submission timing, and responsible approvers. It provides control over the approval process, ensuring that only authorized individuals with the necessary expertise approve the organization's information.

Pre- and post-onboarding approvals: Eftsure supports approvals both before and after onboarding suppliers. It ensures thorough review and approval of supplier information, minimizing the risk of payment error, fraud, and cyber-crime.

Multi-level and hierarchical approvals: Eftsure enables multiple levels of approval within the organization's hierarchy. It ensures a systematic and structured approval process, involving the appropriate team members in reviewing and approving supplier information.

Customizable conditions for approvals: Eftsure allows organizations to set specific approval conditions based on their unique requirements. It offers flexibility to tailor the approval process according to the organization's policies and procedures.