Payment factory published on 18.12.2015 Advisory, sales and implementation support on bank account structure, system integration, bank connectivity, reporting, smooth and secure execution of all corporates’ payments. All these elements together could be labelled as a Payment Factory. Description Benefits Description A Payment factory is an Accounts Payable (AP) structure that centralises activities and standardises processes that previously took place at a subsidiary level. The concept of a Payment Factory comprises advisory, sales and implementation support on bank account structure, system integration, bank connectivity, reporting and smooth and secure execution of all corporates’ payments. As a Payment Factory is a concept and not a product, a Payment Factory will differ from corporate to corporate. Distinguishing factors are: Industry Corporate organisation Payment methods Geographical scope ERP and TMS systems used Preferred communication channel between Corporates and Banks Downloadthe leaflet Benefits Cost efficiency by reduction in costs related to payments, processes, labour, funding and IT. Control over Accounts Payable processes and related transactions. Harmonisation and Centralisation of payment processes. Cash efficiency through a faster turnover of cash within the organisation (speed-up of Cash Conversion Cycle). Working Capital management by reducing the need for working capital and reducing the need for external funding (reduce Cash Conversion Cycle). Accurate Cash Forecasts. Visibility on cash positions. Experience of a bank which has implemented over 250 payment factories in various European and Asian countries, with many different ERP systems and communication channels between corporates and banks.