Overview

Payment Automation is a powerful combination of technology automation provided by NetSuite and banking services provided by HSBC for capturing and paying vendor bills.

Payment Automation is a part of the AP Automation paid module. For information about enabling Payment Automation, contact your account representative.

The Payment Automation SuiteApp is available on the Marketplace, and it's free to download. For more information, see Installing from the SuiteApp Marketplace.

For an overview of transaction charges associated with using Payment Automation, see HSBC Processing Fees.

Payment Automation provides the following benefits:

• Time savings – process vendor payments faster. You can stay in NetSuite and do not have to use another application to enter payments details and process payments.

• Increased transparency – track payment status through payment processing stages.

• Early payment discounts – use different payment options to simplify the process of paying suppliers. For financial savings, take advantage of early payment discounts offered by suppliers.

• Increase supplier satisfaction – automate payment results to achieve faster payment processing cycles. Your suppliers will get paid promptly, which will create strong supplier relationships.

• Extended payment terms – with virtual cards, you can extend the credit terms for up to 55 days depending on when payments are processed in the billing cycle. For more information, see Virtual Card Billing Cycle.

General Notices