Domestic Payments
in Stampli Direct Pay
Automate and centralize your invoice payments with complete choice over your payment methods.
How Stampli supports Domestic Payments
As part of Stampli’s Direct Pay, we make Domestic Payments as efficient, visible, and controlled as we make your AP processes. Stampli Domestic Payments centralizes payment management and accounts payable into one convenient system, offering real-time invoice and payment data and a complete audit trail that includes all stakeholder and vendor communications.
The problems that AP teams face
Many businesses struggle with disjointed payment processes that lack visibility and are time-consuming to manage. Manual payment tasks and lack of automation lead to inefficiencies.
Â
However, other payment providers restrict choice by pushing their preferred payment methods to both you and your vendors, instead of giving you flexibility to choose the best method as you see it.Â
Â
They also make you batch ACH payments by asking you to pre-fund an account, stripping away identifying information and making reconciliation complex and time-consuming.
Stampli’s approach
Stampli Domestic Payments differentiates itself by giving you the flexibility to choose your preferred payment methods without any pressure. Unlike other providers, Stampli doesn’t force you into using specific methods or make you pre-fund an account to batch ACH payments. With Stampli, your bank statements display each transaction individually, making reconciliation simple.Â
Â
Robust and customizable approval workflows ensure proper separation of duties and compliance. You can customize the approval process based on invoice amounts, ensuring payments are made according to your company policies.
Â
The system also sends remittance emails with detailed payment information and maintains a clear audit trail of all payment activities. Moreover, Stampli Domestic Payments uses robust risk mitigation tools, such as fraud detection and automatic compliance checks, to protect your business.
Key features
Diverse payment options
Including ACH, check, credit card, or any other payment method outside of Stampli.
Customizable approval process
Define workflows based on payment amount to approve payments from your bank account based on your corporate policies.
Remittance emails
Stampli sends an email for each payment including details such as method, invoices being paid, amount, and more.
Payment audit trail
View invoice and payment activity, updates, and details on a single screen to know exactly what invoices are getting paid.
Robust risk mitigation
Employ fraud detection and automatic compliance checks to safeguard against potential threats.
Vendor management
Collect and manage vendor payment details. Take advantage of early payment discounts, apply credits, and collect necessary info.
Seamless ERP integration
Effortlessly connect with ERP systems and automatically sync payment data for improved efficiency.
Transparent transaction details
Provide clear bank statement information and detailed remittance data to make reconciliation easy for you and your vendors.
Stampli Success Stories
CASE STUDY
Los Angeles Area Chamber of Commerce simplifies their domestic payments process
Learn how LA Area Chamber of Commerce upgraded their AP team’s domestic payment systems with minimal disruption.
Domestic Payments FAQ
What payment methods does Stampli Domestic Payments support?
Stampli offers diverse payment options, including ACH, check, credit card, or any other payment option outside of Stampli for greater flexibility.
How does Stampli help with payment approvals and compliance?
Stampli allows you to define customizable approval workflows based on payment amounts. This ensures funds are only released according to your corporate policies and maintains proper separation of duties for compliance.
What transaction details will show on my bank statement?
With Stampli, your bank statements display each transaction individually, not as lump sums. This makes reconciliation much easier compared to other payment solutions that batch payments together.
How does Stampli assist with managing vendor payment details?
Stampli makes vendor management easy by collecting and organizing all the necessary payment details. You can offer vendors their choice of payment methods, collect documentation, and take advantage of early payment discounts or credits.
What international payment capabilities does Stampli provide?
In addition to Domestic Payments, Stampli enables you to send payments to vendors across 100+ countries. It supports flexible currency options and allows you to set target FX rates. Built-in FX rate tools help you get the best value by automatically executing payments when your desired rate is met.
Can Stampli integrate with my existing ERP system?
Yes, Stampli seamlessly connects with your ERP system to automatically sync all payment data. This improves efficiency by eliminating manual data entry and ensures your ERP always has up-to-date payment information.
Stampli's financial automation platform
Learn More about Domestic Payments
Learn more about the power of Stampli.
Meet with an AP Expert today.