"Offering a way to easily initiate PayPal payments from within NetSuite fills an electronic payment gap because a payees bank account information is not always readily available.”
Salt Lake City, Utah (PRWEB) May 01, 2014
Piracle Inc., today announced its enhanced suite of electronic payment tools by integrating PayPal into their Accounts Payable solution for NetSuite http://www.piracle.com/piracle-pay-service-for-netsuite/.
Accounts Payable departments are predominantly shifting to electronic payments to pay their vendors, customers, and employees. Piracle has pushed the envelope by offering electronic ACH, EFT, Wire transfers, and now the ability to make PayPal payments directly from NetSuite.
“We are excited to launch our newest electronic payment tools for NetSuite because it gives the ultimate in payment flexibility to our customers. Offering a way to easily initiate PayPal payments from within NetSuite fills an electronic payment gap because a payees bank account information is not always readily available.” said John Bechard President and CEO of Piracle Inc.
Electronic ACH payments are an easy and cost effective way to make Accounts Payable payments. This payment method, however, requires bank account information for the payee. Making a payment with PayPal only requires an email address. This provides a great way to make local and international payments to vendors and customers whose bank account information is unavailable. Piracle has integrated this option into their Piracle Pay solution for NetSuite, which satisfies a need for alternatives to typical ACH payments.
Piracle’s Controller, Kandice Lambert CPA remarked: “Our Accounts Payable department now has a variety of ways to make electronic payments. We had a need for PayPal payments because some of our vendors were not set up to receive ACH payments. Plus, it is a more secure way to issue payments than exchanging credit card information. Now we can tailor our workflow to accommodate each vendor’s preference.”
Piracle also offers a novel way to issue ACH payments. Traditionally, NetSuite users would issue electronic ACH payments using a third party vendor outside of their normal established banking channels. This process increases the payment cycle time and is costly for the NetSuite user.
With Piracle Pay Service, electronic ACH payments using a third party vendor are no longer necessary. Now it is possible to initiate a ACH payments using a NetSuite user’s existing banking relationship for a more efficient and cost effective alternative. This payment option also transmits an email remittance to the payee, alerting them that a payment is in transit to their bank account.
To this end, another arrow added to Piracle’s payment quiver is an electronic ACH self enroll tool. This gives Piracle Pay users the ability to email vendors, customers, or employees a link to a secure webpage where they will enter their own bank account information. That information is populated into their NetSuite account for use with Piracle Pay. At that point, the vendor, customer, or employee can now be paid electronically.
Bechard realizes the importance of making the transition to offer more payment options at a time when the market is ready for such a monumental change.
“We have developed our comprehensive payment solution, knowing that there would need to be a paradigm shift in the perception of electronic payments. Changing the payment workflow to electronic payments can actually be a simple process. That is why we have made painstaking efforts to anticipate and remove the obstacles our customers would encounter in making that transition.“
This type of payment innovation is likely, the catalyst needed to align organizations with the direction of the way all payments will be made in the near future.
About Piracle Inc.
Piracle Inc. has offered payment management tools for over 22 years. Piracle became a NetSuite user 7 years ago and realized NetSuite users could benefit from the tools they had developed for other accounting applications. Piracle Pay Service is now the only certified Built for NetSuite Payment EngineTM that allows users simplify their payment processes without ever leaving NetSuite. http://www.Piracle.com