Payment Manager
- Uma Srinivasan (Unlicensed)
You may now securely pay your service providers online using ServiceChannel’s payment processing system, Payment Manager. This system is free to use, reduces administrative load, and provides benefits such as:
- Automatic scheduling of invoices for payment based on aging.
- Visibility into payment status through Service Automation; email notifications when payment is scheduled, initiated and when completed.
- Control over payments, including the ability to pay through bank accounts/credit cards and expedite/ defer payments.
- Potential savings when you have early payment agreements with your service providers or take advantage of rewards when you pay using your corporate credit cards.
Setting Up Payment Manager
Should you not have Payment Manager available for your account, speak to your ServiceChannel Representative to enable it for your company. (When enabled, Payment Manager appears as an item in the top-left menu for users with Financial Admin/Financial Authority roles).
The process to set up Payment Manager involves the below:
- Setting up your Payment Manager account by specifying your preferences and payment methods. See Payment Manager Settings for more information.
- Onboarding your service providers: Your service providers need to provide certain information for verification by ServiceChannel’s payment partner to ensure compliance with financial regulations; this verification is mandatory before providers can be paid through Payment Manager. Note that the onboarding process might take a few days; we recommend that you plan accordingly when setting up Payment Manager. (See Provider Onboarding for Payment Manager for more information on the verification process for your service providers.)
Once the above steps are complete, you can start using Payment Manager for payments. Note that all your providers must be verified to receive payments. Should any of your providers remain unverified, their invoices will not be scheduled for payment through Payment Manager; both you and the provider will receive an email notification in such a case.
