WU Payee Manager
Manage your international vendors with a combined tool
Firms that must manage a large number of foreign vendors and supplies often have difficulty keeping all the individual banking details for each party organized and up-to-date, especially when changes occur. Our international payment platform is specifically designed to manage this common challenge and simplify the process for both firms and their vendors.
The online platform lets payees update their own banking details through an encrypted self-service environment and track the progress of their payments. Not only does this help ensure accuracy in payment details, but it also reduced manual work for accounting staff who would no longer need to field questions about a payment’s status or arrival time.
How does it work?
Launching Payee Manager is easy and hassle-free. Just follow these simple steps for a successful implementation:
1. Inform your vendors
An informative email campaign can educate vendors on the new process and benefits to their organization. A message invites them to add their banking information on an encrypted website. Note that Western Union Business Solutions will supply the campaign and customize it with the firm’s logo and colors.
2. Monitor new signups
To keep you informed on the actions of your vendors, firms will receive an email notification when each vendor adds their details and are given the change to approve the addition. It’s also easy to see who has not yet responded to the email call to action.
3. Start making payments
Once a vendor completes their enrollment, that’s it! They are automatically listed within the WU® GlobalPay platform. Firms can begin using the platform to easily make their payments and recipients will receive an automated notification and can also track the status of their invoices online.
4. Ongoing vendor self-management
In the future, if there are any changes to their details, vendors can easily login and adjust their banking details, contact information and user access rights. Firms will be automatically notified of all changes via email, so they are keep informed of updates.
5 ways Payee Manager can help
- Help reduce costs to your business by switching from check to electronic payments
- Improve relationships with vendors by paying accurately and on time
- Reduce manual processes for handling payment inquiries
- Cut out manual reconciliation of remittance data
- Improve reporting and meet mandatory audit requirements
Payee Manager: Overview
- Edit payee company details
- Add bank account
- Modify/change bank account
- Delete bank account
- Add new contact details
- Delete contact details
- Track payment
- Payee user administration
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