Name: eftsure
Author: eftsure

Help Desk

Web and Video Conferencing

Customer Support

Bug  Tracking

WebOps

Development

Business Intelligence (BI)

Collaboration

Visual Collaboration

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Enterprise

Accounting

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Corporate Learning Management

HR Management

On-Demand Payment

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Talent Intelligence

Talent Management

Workforce Analytics

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Human Resources

3D Printers

API Management

App Development

Browser

Cloud Storage

Component Content Management

Data Observability

Enterprise Architecture Management

Fraud Detection

Hosted Virtual Desktop

Hyper-Converged Infrastructure

Integration Platform as a Service (iPaaS)

Internet of Things (IoT)

Interoperability

MLOps

Network Access Control (NAC)

Network Performance Monitoring

Remote Support

Requirements Management

Security Awareness Training

Session Border Controllers

Voice Recognition

Web Application Firewalls

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Business Card Scanning

Content Management

Content Marketing

Digital Signage

Direct Mail Automation

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Online Reputation Management

Search Marketing Intelligence

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AI Meeting Assistants

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### Supplier Management
Users consistently highlight EFTsure's supplier management as a valuable asset in streamlining the onboarding process for new vendors. The system's functionality and ease of use are commended for providing comprehensive information to effectively onboard suppliers and identify any discrepancies in paperwork. However, some users express concerns about the cumbersome process when rejecting vendor invitations. Despite minor challenges, the overall sentiment leans towards positive experiences with EFTsure's supplier management features, particularly in enhancing internal controls and mitigating risks associated with fraudulent activities in supplier payments.

### Vendor Onboarding
Users have varying opinions on EFTsure's vendor onboarding process. Some users appreciate the time-saving aspect and the ease of use in requesting onboarding forms for new suppliers. They find the verification process trustworthy and compliant with organizational standards. However, there are concerns raised by some users regarding the user-friendliness of the portal for suppliers, suggesting the need for more guidance and tips to navigate the onboarding form effectively. Additionally, there are suggestions for improvements in the search option under supplier onboarding. Despite these mixed reviews, EFTsure's vendor onboarding process seems to offer a balance of benefits and areas for enhancement according to user feedback.

### Implementation and Training
Users consistently highlight eftsure's implementation process as thorough and well-guided, providing adequate training opportunities for a smooth onboarding experience. The ongoing support and assistance from the EFTSure team have been commended, with users expressing satisfaction with the level of training received. The platform's user-friendly interface and integration capabilities with existing systems have also been positively noted, contributing to an overall positive user experience in terms of implementation and training.

### Payment Verification
Users generally praise eftsure's robust payment verification process. The feedback highlights the peace of mind that comes from knowing that bank details are thoroughly validated before making payments. Many users appreciate the quick onboarding process for new suppliers and the ease of use in verifying accounts. However, there are occasional concerns raised about the communication methods with suppliers and the potential for account closures not being promptly reported. Despite these minor issues, the overall consensus leans towards eftsure's payment verification being a reliable and essential feature for ensuring secure transactions.

### Payment Processing
Users consistently praise eftsure for its streamlined payment processes and risk mitigation capabilities. The ease of use and the assurance of payments reaching the correct bank accounts are highlighted as key strengths. Some users have mentioned initial challenges in understanding the offshore staff processes but appreciate the support provided by the EFTSure team in resolving any issues. The system's ability to verify supplier details efficiently and the availability of training have been noted as valuable aspects of eftsure's payment processing functionality.

Eftsure is a comprehensive B2B payment protection software designed to mitigate the risk of payment error, fraud, and cyber-crime. According to the vendor, Eftsure offers a solution to safeguard business payments and ensure the accuracy and security of payment transactions. It caters to businesses of all sizes, from small enterprises to large corporations. Professionals in finance, accounts payable, risk management, procurement, compliance, audit, and government agencies and healthcare organizations can benefit from Eftsure's advanced features and functionalities.

## Key Features

**Supplier Management**: Eftsure provides secure and efficient onboarding, verification, and management of supplier information. It simplifies supplier invitations, form completion, and document collection. The software enables streamlined verification and approval of supplier information, including ABN and GST registrations.

**Payment Protection**: Eftsure helps identify and prevent errors, fraud, and scam attempts before releasing funds. It offers real-time alerts throughout the procure-to-pay process and ensures secure payment preparation. The software includes early detection of fraudulent invoices during eft payment preparation and offers automated verification of ABA files or single eft payments.

**Segregation of Duties**: Eftsure allows for a digital interface to manage visibility and assigned tasks. It facilitates user setup with tailored permissions and roles. The software ensures data security by providing partial access to specific users and automates notifications for new suppliers, bank account changes, and document expiries.

**Audit and Reporting**: Eftsure centralizes reporting to simplify audits and ensure compliance. It provides comprehensive management and monitoring of payment and supplier data. The software offers visibility into supplier lists, detecting any anomalies and ensuring accurate and up-to-date supplier information. It also generates detailed payment reports for financial control, fraud detection, and compliance purposes.

**EftsureID**: Eftsure enables secure collection of invoice payments. It mitigates the risk of invoice impersonation fraud and protects accounts receivables. The software prevents hackers from impersonating organizations and provides customers with an additional opportunity to verify the authenticity of invoices before payment. It safeguards identity and reputation by preventing fraudsters and scammers from impersonating users.

**Integrations**: Eftsure enhances security and streamlines payment verifications through integrations. It utilizes REST APIs for automated data exchange and real-time updates. The software securely transfers payment files using Secure File Transfer Protocol (SFTP). It integrates with existing systems and software to streamline processes and reduce errors, providing access to leading brands.

**User set-up control**: Eftsure allows users to customize information submission for approval, submission timing, and responsible approvers. It provides control over the approval process, ensuring that only authorized individuals with the necessary expertise approve the organization's information.

**Pre- and post-onboarding approvals**: Eftsure supports approvals both before and after onboarding suppliers. It ensures thorough review and approval of supplier information, minimizing the risk of payment error, fraud, and cyber-crime.

**Multi-level and hierarchical approvals**: Eftsure enables multiple levels of approval within the organization's hierarchy. It ensures a systematic and structured approval process, involving the appropriate team members in reviewing and approving supplier information.

**Customizable conditions for approvals**: Eftsure allows organizations to set specific approval conditions based on their unique requirements. It offers flexibility to tailor the approval process according to the organization's policies and procedures.

Ease of Implementation: Users have found the ease of implementation of eftsure to be beneficial in aligning their Vendor Master data and tightening internal controls for risk. Several users have stated that the software's seamless integration with existing finance systems makes it convenient to incorporate into their workflow. 

Excellent Support and Training: The support and training received from eftsure staff have been excellent, according to multiple users. They appreciate the positive experience they have had with the company, as it has helped them effectively navigate and utilize the software's features.

Verification and Security Features: Users highly value eftsure's ability to verify supplier details such as ABN, bank account name, etc., providing an added assurance. The software's functionality and ease of use ensure that all necessary information is available for onboarding new vendors while highlighting any discrepancies with paperwork. Additionally, users commend eftsure for its ability to prevent fraudulent payments, which is especially crucial in today's climate of sophisticated scams.

Cons:
1. Onboarding process can be time-consuming and require micro-management: Some users have found the onboarding process to be lengthy and requiring excessive attention, leading to frustration and the need for constant supervision.
2. Confusion caused by supplier-facing comments section: Several reviewers have expressed confusion over the comments section in the software, which is intended for suppliers but can cause misunderstandings about communication channels.
3. Software occasionally experiences glitches and slow refresh rate: A number of users have reported occasional glitches in the software, including slow loading times and delays in data refreshment, impacting overall user experience.

Users of eftsure have reported a variety of use cases for the software, all of which contribute to mitigating payment risks and streamlining processes in their businesses. One key use case is the elimination of the risk of paying to the wrong account. Users have found that eftsure saves them valuable time and effort by reducing the need for phone calls and emails to verify supplier bank accounts. This feature provides a peace of mind in ensuring that payments are made accurately without any potential errors or fraud. 

Another important use case is the effective management of the supplier onboarding process. Customers have praised eftsure for providing a smooth experience in this regard. The robust features of eftsure, such as bulk actions and bank overlays, have proven to be particularly useful for finance managers in reviewing payment risks. Additionally, users have found the validation process to work well, although some adjustments were needed for suppliers who were not ideally suited to the eftsure model.

Furthermore, users have turned to eftsure as a means of minimizing risks from scam and phishing emails, which are increasingly prevalent in today's business environment. By utilizing eftsure's thorough implementation process and exceptional after-installation help, customers have achieved risk mitigation and enhanced security in their payment processes.

Overall, eftsure has provided an easy-to-use solution that brings confidence and comfort to small and big businesses alike. The online portal and professional interactions with suppliers have facilitated efficient payment processes. Users have also commended the excellent level of support and availability provided by the eftsure team, who offer adequate training and assistance throughout the implementation process. Government users, in particular, highly recommend eftsure for its helpful staff and readily available support when needed.

SAP Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration.

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eftsure

Accounts Payable

Features found in accounts payable software products

Automated Accounts Payable Processes

Accounts payable processes are automated based on pre-determined workflows.

Vendor Management

Holds information related to vendor terms and contracts.

Tax Form Preparation

Allows users to create and share tax forms within the platform.

Payment Management

Features that allow for the management of payments across various forms of finance/accounting software.

Customizable Approval Policies

Policies for different types of approvals can be customized, sent to multiple approvers, automatically approved, etc.

Financial Document Management

Invoices, expense reports, and associated documents are stored within the platform for any future needs.

Payment Status Tracking

Tracks what stage payments are at in the process, from approval to receipt.

Payment Audit Trail

Allows admin users visibility into the entire payment process, from receiving the expense claim or invoice to the payee receiving payment.

Duplicate Bill Detection

Detects duplicate invoices or expense reports to prevent double payments.

Advanced OCR

Automatically imports information from invoices, receipts, expense reports, and other 
scanned documents into the platform.

Electronic Funds Transfer

Funds can be transferred via EFT as opposed to paper checks.

PCI Compliant Security Measures

Banking and finance information is protected according to Privacy Shield and GDPR standards.

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eftsure

Overview

What is eftsure?