Payment Manager

Reduce Payment Processing Costs

Payment Manager Icon

How Our Contractor Payment Management Software Works

You get a consolidated invoice, and send a single payment.

ServiceChannel then pays hundreds of your contractors via EFT.

How It Helps

Reduce Payment Processing Costs

Eliminate remittance costs to 100’s of paper checks

Reduce Headaches

Reduce the volume of payment inquiries

Boost Service Levels

Encourage better service by paying contractors on time

Improve Payment Data Access

Provide convenient access to vendor payment history, minimizing payment inquiries

Companies using ServiceChannel Payment Manager can save $3-4 per transaction or more through improved payment processing efficiencies.

Your contractors benefit as well from improved cash flow and ready access to all payment information. Checks are no longer “in the mail.”

Process

1. Upon approval, contractor submits invoice for approval via ServiceChannel Work Invoice Manager

2. ServiceChannel simultaneously creates an EFT payment request to your company consistent with the aggregate-open invoice data amount due
3. Your company funds a custodial account (owned by you) with amount requested

4. ServiceChannel processes ACH payments to contractors once funding received

5. ServiceChannel posts payment information online; your A/P ledger is updated to reflect payment status