Paymaster by FourQ Systems Streamlines the Global Vendor Invoice Management Process
Paymaster is a full-service software solution for automating and centralizing the global vendor invoice management process, including invoice receipt, validation, audit, approval, payment, and inquiry.
- Automate Manual AR/AP Processes to Increase Productivity, Improve Accuracy, and Reduce Costs
- Eliminate Late Fees, Penalties, and Past-Due Invoices with On-Time Vendor Payments
- Achieve Balance Sheet Compliance and Transparency
A More Efficient Way to Process Invoices
FourQ’s Paymaster solution supports automated, centralized invoice management—eliminating inefficient manual processes and associated costs.
Centralized & Automated Invoice Processing
Tax Accuracy and Recovery in 100+ Countries
Compliance & Tax Audits
Automating invoice processes with specific acceptance criteria allows companies to reduce the number of resources spent on billing investigations, disputes and resolutions, settlements, and reconciliations.
Our tax team works to understand your tax exposure and continually monitors international tax changes to automate and optimize your workflows to mitigate unnecessarily incremental tax costs and penalties.
Paymaster is built with a focus on compliance and provides the most up-to-date compliance documentation possible for tax authorities and real-time audits.
How it works
Collaborate with Internal Team and Consultants
Collect Information about All Vendors and Suppliers
Develop Rules for Invoice Validation
Establish a Project Timeline
Educate Vendors on Program Requirements
Identify SPOCs with Vendors
Establish Project Timelines with Vendors
Manage All Vendor-Related Activities for On-Boarding
Implementation & Testing
Validate Automated Invoice Processes
Validate Automated Payment Processes
Test Reporting Platforms
Test Dispute Processes, Ensuring Proper Teams are Notified
Go-Live, Scalability, Support
Develop a Go-Live Plan for Visibility and Urgency
Ensure Vendor Inputs Align with Requirements
Ensure Payment Outputs Align with Requirements
Validate Reporting Data
Learn how FourQ Paymaster identified $22M of invoice errors from a single service provider in its first year of use.
Proven, Scalable, Long-Term Solutions to Old Problems
While a shared services model offers many advantages for multinational companies, this centralized approach can present challenges when it comes to managing vendor invoices across multiple entities and countries.
From direct costs such as vendor late fees, penalties, and missed opportunities for discounts, to less tangible but equally costly issues like payment inaccuracies, internal inefficiencies, unnecessary overhead, and compliance risks, these challenges all come at a price.
For organizations operating globally that conduct business with many vendors, effective invoice management is essential to avoiding these challenges and the associated costs.