Ensuring your Payees continuously meet their compliance obligations, or exceed the standards you set, can be a time consuming and inefficient, and in most cases is simply not viable. How often do you check if your vendors ABN is up to date or their GST registration declaration is valid? Failure to perform regular checks can result in capital and reputational losses.
Eftsure's "Know Your Payee" compliance solution simplifies the collection and management of compliance information on your payees and delivers non-compliance alerts. Where possible, EFTsure collects the required data from third party sources and provides alerts where relevant. You decide what information is required from your third party relationships and the EFTsure compliance solution ensures the data is not only collected but maintained where the data has a date of validity.