Wondering what the vendor payment process is all about?

We get it.

You already have your plate full – running a business, making vendor payments, AND handling vendor grievances all at once!

And if you try to make a vendor payment without knowing how the vendor payment process works,  then it will be like throwing darts blindfolded while hoping to hit the bull’s eye at the same time!

Sometimes it works. Some other times….not so much.

But, there’s a way…

Did you know you can complete your vendor payouts from net revenue, while automatically calculating the correct taxes?

Or did you know for a fact that with automated vendor payment portals, you can bid goodbye to manual accounting forever?

Here in this blog, you will learn all about the vendor payment process and how to streamline the same with a straightforward solution.

Table of Contents

• What Is Vendor Payment Process?
• ‍Accounts Payable Function
• ‍Payment Centralisation
• What Is Payout’s Role in Vendor Payment Process? does it work?
• ‍How Does It Work?
• ‍How Can This Simplify Your Life?
• ‍Why Use Payout?

What Is Vendor Payment Process?

The accounts payable team can process vendor payments for bulk transactions. Similarly, it may be carried out by small or medium-sized business accountants or the owners.

It mainly involves two components:-

Accounts Payable Function

It comprises almost all of a company’s payments outside of payroll. The accounts payable department may carry out the accounts payable process in large MNCs. If it is a medium-sized firm, the company staff handles it, or in the case of a small business, the owner is responsible for it.

Payment Centralisation

This is a core component of the vendor payment process to save time, energy, and effort while making corporate payments. Everything is consolidated in one central point in the software.

what Is Payout’s Role in Vendor Payment Process? does it work?

There is a growing need among businesses – to spend less time on manual work and do more productive work. The easiest way for businesses is chasing this goal is through a vendor payment system.

Vendor payment portals like Payout have been created to facilitate the above. Payout specifically is a product that streamlines the vendor payment process and allows your business to quickly send payments to vendors, without having any complex invoicing process.

Payout is ideal for businesses of all sizes, from startups and SMEs to enterprise companies.

How Does It Work?

The vendor payment process through Payout works solely through automation.

Follow 3 simple steps –

1. Download the template
2. Input the amount and vendor beneficiaries
3. Upload and send payment to all your vendors

How Can This Simplify Your Life?

If you manage a business, you know how important it is to keep track of your spending and stay within your budget.

That’s why Payout is such a valuable tool – it smoothens the vendor payment process and makes it easier for you to stay on top of your finances.

Payout streamlines the entire process so that businesses can focus on the two things that count – growth and survival.

With Payout, you can manage all your vendor payments in one single dashboard.

Why Use Payout?

• Automated Vendor Payment Platform

Making bulk payments is now only a click away.

• 24×7 Online Payment

Your traditional bank might be on a holiday, but Karbon Payout never is. Experience seamless, fast vendor payments 24×7.

• User-Friendly Payment Portal

Our design focuses on only one idea – Simplicity. We have simplified the process beyond your imagination. Book a Demo and find out how.

• Bulk Payment to Manage Multiple Vendor Payments

Instant beneficiary addition and fast bulk payments make Karbon Payout stand out from the rest.

• Uncapped Vendor Transactions in a Day

You can make unlimited vendor transactions in a single day with no restrictions.

• Vendor Payout Links

You can send the Payout Link to your vendor, where they can add themselves to the portal. This ensures two-way transparency in the transaction process.

• Automatic Tax Calculation (coming soon)

All GST & TDS calculation is entirely automatic with the option of exporting this data to your book-keeping software.

If you’re in dire need of a quick, simple freeway for the vendor payment process, Karbon’s Payout is your answer!

Spare 15 minutes and book a free demo now.

We won’t lose much with 15 minutes, but we promise, you will have a lot to gain at the same time.

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