Integrated Payables

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Automate Your Payments to Increase Efficiency and Revenue

Integrated payables streamlines the payment process by giving you the ability to send vendor payments in a single, secure online payment file from your accounting system to Northrim, which then processes and executes payments by ACH, check, virtual card (vCard) or wire on your behalf.

This new payment solution, accessed through Northrim’s Business Online Banking, can:

  • increase efficiency by eliminating the manual process of printing and mailing checks.
  • convert check transactions to vCard transactions, which may be eligible for revenue share.
  • save money by lowering the costs associated with printing and mailing checks.
  • implement controls to combat fraud, including submit, review and release capability.
Vendor Outreach Strategy

Vendor Outreach Strategy

We will work with your vendors to set them up to accept ACH and vCard payments to reduce payment-processing times and give you a real-time view of your cash flow.

vCard Payments

vCard Payments

Virtual cards allow Northrim to issue a specific card number for one-time use to your vendors, for a specific value. Not only is this a highly secure method, vCards may come with the added benefit of monthly revenue share.

Customers that would like to include the payment method of vCards will be required to be a customer of our Commercial Purchase Card program.

Reduce Costs

Reduce Costs

When Northrim processes payments for you, there is no need for check printing soft and hardware, check paper stock or special fonts and ink. you can also save on the cost of postage — the integrated payables service provides address cleansing and postal sorting, resulting in the lowest possible postage costs.

Security

Security

Each vendor registered for payment is verified through a vetting process. Knowing the importance of data privacy and security, the infrastructure provides extensive security and control over payment and remittance data received from you.

Vendor Support Center

Vendor Support Center

Our provider, FIS, will support your vendors with its customer support center. Its representatives manage inquiries, card-processing issues, technical support, bank account maintenance and more.

For more details about integrated payables and its benefits, please contact the Treasury Management team at (907) 562-0062 or treasurymanagement@nrim.com.