PAS Flow – electronic
payments approval
payments approval
The Payments Approval System (PAS Flow) is a solution for
planning, controlling and efficient managing a company’s budget and expenses.
planning, controlling and efficient managing a company’s budget and expenses.
What is Pas Flow system intended for?
Automation of initiation,
approval and control of
payment execution processess
approval and control of
payment execution processess
Remote approval of
payments by
authorized persons:
via LAN or the Internet
using secure protocols
payments by
authorized persons:
via LAN or the Internet
using secure protocols
Reduction of time
for approval of payments
by company departments
for approval of payments
by company departments
Mitigation of all types
of risks related to failure to
perform or improper execution of payments
payments
of risks related to failure to
perform or improper execution of payments
payments
Centralization of storage and
prompt provision of any information on
payments and budget expenditures
for making management decisions.
prompt provision of any information on
payments and budget expenditures
for making management decisions.
How it works?
Please note: the roles listed below are generic and can be reconfigured to fit your business processes.
Initiator
Issues a payment order
Arranges and controls
the execution process
the execution process
Accountant
Checks the validity
of payments
of payments
Gives permission
Budget Service
Monitors budget execution
Compares current expenses and planned budget.
Treasury Department
Identifies the settlement bank and availability of funds
Shows flow of funds in the payment position
Artist –
Assignee – Client bank
Assignee – Client bank
Submits a payment order to the settlement bank
Controls the execution of bank payments
Benefits of Pas Flow
1
Low Cost
Low financial and labor
costs for system implementation,
training and support
of user workplaces
costs for system implementation,
training and support
of user workplaces
2
MINIMUM TECH. REQUIREMENTS
The system can function even at low Internet speeds.
3
HIGH SECURITY LEVEL
Payment data is
securely protected
by encryption
securely protected
by encryption
4
HIGH SYSTEM SCALABILITY
A simple system expansion with an increase in
users number
users number
5
EASY SYSTEM SETTINGS
Opportunities for its development and integration
with other services
with other services
Key functionalities
User-friendly issuing of
payment orders:
payment orders:
generation of payment order using a pre-set form or template;
payments validity check: BIC, TIN, account;
attachment of supporting documents files;
Payments approval process:
creation of standard payments approval routes;
approval and adjustment of payment, as well as suspension of approval;
change of approvers;
payment cancellation;
automatic saving of all approval changes history;
Execution and control:
automatic and manual control of payment status at any stage of its life cycle;
opportunity of phased partial payment of the payment order;
automatic uploading of payments to the client bank and automatic processing of transcripts.
Additional PasFlow modules
M-Monitor: module for payment position keeping and cash flow monitoring.
Intended for:
- 1. Increasing the transparency of cash flow (both of own one and of subsidiaries);
- 2. Obtaining up-to-date data on account balances for prompt decision-making on payment;
- 3. Obtaining data for analytics and cash management: depositing with %, transfer, etc.
B-Monitor: module of keeping and budget performance monitoring.
Intended for:
- 1. Controlling the business process of spending money from the budget;
- 2. Approval of payments between company employees located far away from each other;
- 3. Improving the work of the unified budgetary service in holding companies or with a distributed branch structure.
Which companies are suitable?
For companies with a large volume of
hard-copy payment documents:
where a detailed control
and monitoring of financial
flows is required;
hard-copy payment documents:
where a detailed control
and monitoring of financial
flows is required;
Companies with branches involved
in payments approval located
far away from each other;
in payments approval located
far away from each other;
For companies requiring a single financial center:
budget service/accounting/treasury in holding companies or with a distributed branch structure;
budget service/accounting/treasury in holding companies or with a distributed branch structure;
Companies with a payment
settlement center working
with various authorized
banks and their payment systems.
settlement center working
with various authorized
banks and their payment systems.
Learn more about the PAS Flow!
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