Smaller Businesses Targeted by Wachovia's Online Payables Service
US bank Wachovia’s Treasury Services Division has introduced a PC-based Online Payables service. The solution will enable Wachovia customers to manage the payment process via a secure Web site, eliminating the need for pre-printed check stock and reducing expenses related to printing and sorting equipment, according to the bank. The solution accepts multiple file formats and integrates with a company’s pre-existing accounting software applications. Payment files are generated through the customer’s accounting software and then uploaded to the Online Payables application. The details of the file can then be viewed and processing decisions made.