5 Reasons to Adopt a Payment Hub

Payment hubs are an increasingly popular way to address the complex global and cash management issues that organizations face today. With increased security, improved control over funds, and real-time visibility into cash flow, adopting a payment hub seems like a no-brainer. But if your treasury team is unfamiliar with the concept, how do you make the case? By starting with the basics, like these five key benefits:

1. Security and Standardization A successful payment hub provides a platform for strengthening you organization’s internal controls and processes, including a powerful but flexible approval workflow and increased automation for greater visibility.
2. Streamlined Global Payments Payment hubs are able to manage global transactions accurately and efficiently, whether disbursing electronic payments or managing on-premise or out-sourced check production. This approach allows maximum flexibility and lowest cost routing.
3. Multi-bank Connections Most mid to large organizations have multi-bank relationships. A payment hub offers secure connectivity between banks and solves for multiple ERP platforms.
4. Effective Liquidity Management and Cash flow Forecasting A payment hub can provide visibility across all bank accounts enterprise-wide. Access to up-to-date financial data gives an accurate glimpse into you organization’s true cash position at any point in time.
5. Preventing Fraud and Financial Crime Creating a payment hub with the ability to monitor user behavior and track payments gives your organization a big advantage in the fight against crime and can prevent internal fraud issues.

A payment hub is more than just a centralized system, it is also a core business strategy. Have the discussion today and start reaping the benefits tomorrow!