Hi,

I am trying to research Paperless AP and have hit some walls. A great product I have found though is called EFT-O-Matic. It plugs into the Financial Edge and what it does is generates e-mail notifications to vendors that you have generated EFT Payments for. This is an amazing find, especially for my organization as I had mentioned to my boss that I could not handle the switch to EFT Payments without this functionality. It works by way of templates, so you write a standard message to vendors - as many separate standardized messages as you want - and then choose which vendors to send the message to. It automatically pulls in information like vendor name, date, payment amount. What amazes me is that it creates a table of the invoices paid that shows invoice number, description and invoice amount. If you do international wires (we do about 30 a month), you will be happy to know that, although there is no way to fake out the FE and call those EFT Payments, you can call them Bank Drafts and the EFT-O-Matic will generate those e-mail notifications as well.

I have been impressed with the product and the vendor (Palmettotech). The service is amazing, they have a very responsive team that will take the time to explain all the features of the product to you well. The cost is worth the benefit of saved time and frustrations. So many times, I have accidentally sent the Wire Transfer notice to the wrong Field Office Accountant, now, that won't happen because the e-mail address is pulled from the vendor record! You can send the notifications to several people. Additionally, if there is no e-mail address on the vendor record - you can add it from the EFT-O-Matic page, it is as simple as selecting to "Set e-mail address for contact" and right there, you can type in as many as you want.

I am passing this information along because I have found myself bogged down in information about work flow and imaging and really wanted to at least take a step toward paperless and EFT-O-Matic allowed me to do so. We are going full force starting with Employee Reimbursements starting on Tuesday, which we would not have been able to do without the automatic generation of the EFT Notices. I hope this helps anyone else who is trying to go paperless!

Also, I have provided a link here in case my description has failed to mention anything, you can watch a demo: http://www.palmettotech.com/eft