Introducing payment operations automation.
What if you can customize the workflow your business needs to send, collect or reconcile payments, with no code or developer effort?
Hyphen is developing a no-code payment automation platform to help businesses and developers solve B2B transaction initiation, approvals, and reconciliation with automated workflows
The Problem
Payments from and to a business are disconnected from the logic, documentation, and accounting behind that transaction. Even after a decade of advancement in digital payments, this context behind the money in the bank for most businesses is still lacking.
Payment operations refer to the processes and systems that are used to manage and facilitate financial transactions. This includes activities such as processing and approving payments, reconciling accounts, and ensuring that payment systems are secure and compliant with business policies. Payment operations are focused on managing the movement of money within an organization or between organizations.
As opposed to payments in consumer transactions, business payments are often complex and involve multiple parties, including vendors, customers, financial institutions, and other intermediaries or software platforms. As a result, businesses must have effective systems in place to manage payment operations in a timely and accurate manner.
This is what Payment Operations Automation solves.
The internal and external processes are critical before or after money moves in an organization. Automating these routine tasks is critical to ensuring that payments are made efficiently and accurately and that the financial health and performance of an organization are tracked and monitored.
Here are some detailed examples of B2B paymentOps processes:
Today, more than 60% of mid to large organizations in Africa rely on paper and manual processes to address these tasks and this limits growth.
In a nutshell, Payment operations automation is a series of workflows, to automate and streamline payment-related tasks and processes, including payment initiation, approval, reconciliation, and monitoring.
If you desire to customize the logic and automate repetitive money movement tasks for any business payment use-case, then you should tryhyphen.com
