Invoice Processing Automation Tool

Payment and invoice processing was a tedious task for McQueen Autocorp. The finance team faced inefficiencies in their daily day-to-day operations as the processes needed to be carried out manually through a separate app. Maruti Techlabs was roped in to synchronize their finance ecosystem. We migrated the entire financial system to ACH API, the most popular mass payments platform for B2B transactions. Instead of dealing with separate payment files, Maruti Techlabs created a standardized NACHA formatted ACH file generator that automated the entire process and made it wholly electronic and transparent.

The client was using a third-party application to process monthly payments to its multiple vendors manually. Invoices for each payment had to be generated via the third-party app and then updated separately in the client’s system. Separate payment files led to a broken workflow with increased chances of errors and rejections.

Maruti Techlabs understood the client’s payment cycle and migrated from the manual payment process to the ACH (Automated Clearing House) mode of payment. ACH is a way of moving money electronically between bank accounts without writing checks or entering credit card numbers manually every time you need to make a payment. For payments made via the ACH network, both sender and receiver need to comply with a set of guidelines provided by NACHA.