Start saving time now!Settlink allows you to easily manage and process mass payments.

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Settlink is a state-of-the-art service that simplifies your business' financial transactions.

Payment processing is one of the key operations for every business. A comprehensive, well-organized summary of your transactions between suppliers and customers is crucial in ensuring that your business' finances are in order. It also assists in avoiding unnecessary problems during month-end and quarterly reporting periods.

Experience and the reality of running a successful business prove to us that managing our finances can be a daunting challenge. In many companies, the question “What did our customer pay us for?”, is asked every day. As a result, accounting departments spend a lot of time billing and processing payments. This often involves direct communication with clients – thousands of emails and hundreds of hours on the phone. Even when clients specify what their payment is for, it is often necessary to manually clear their invoices in the financial/accounting system.

All this requires a valuable resource – employee time – time that can be saved. This is precisely why Settlink was developed!

Save with Settlink

  • Do you make a single payment for multiple invoices that pertain to a particular contractor?
  • Do your suppliers continually ask for explanations upon receiving payments?
  • Do you or your employees spend too much time processing incoming payments for multiple invoices?

If you answered “yes” to any of these questions, then Settlink is for you.

Our service is designed for businesses that regularly conduct transfers for many invoices or receive those types of transfers.

Advantages

I'm a vendor - payee

  • I receive information about all invoices for which transfers have been received,
  • the information is automatically entered in the financial/accounting system, which allows for incoming payments to be settled easily,
  • the accounts receivables are well-organized,
  • the history of transfers is clearly displayed,
  • and I save time:
    • the receivables department does not have to manually process transfers, that often require direct and time-consuming contact with business partners,
    • balances are summarized easily at the end of each reporting period,
    • incoming payments are automatically processed during the posting of bank statements for companies using SAP ERP*.
*Does your company use a different system? Please contact us to learn how integration is possible with Settlink.

I'm a customer - payer

  • ability to use the service without having to register, and free-of-charge
  • and I save time:
    • not having to contact your suppliers for explanations regarding outgoing payments,
    • not having to submit additional clarifications with your payments to your suppliers,

How does Settlink work?

Business scenarios with Settlink

1.Payer's system

When making a payment, Settlink receives a complete list of invoice numbers. Consequently, it assigns a unique identifier to the bank transfer description.

2.Payee's system

Incoming payments by the payer are reflected on the payee's account.

3.Payee's system

When processing a bank statement, the financial/accouting system automatically recognizes the unique Settlink ID number and retrieves the associated list of invoices.

4.Payee's system

This information allows for the processing of incoming payments and automatic invoice clearing, for which the payment pertains to.

1.Payer

Before making a mass payment, the customer/payer submits a list of invoice numbers (with the help of our service's form). The corresponding identifier is then manually saved in the bank transfer description that is being made to the payee.

2.Payee's system

Incoming payments are reflected on the payee's account.

3.Payee's system

When processing a bank statement, the financial/accouting system recognizes the unique Settlink ID number and retrieves the associated list of invoices.

4.Payee's system

This information allows for the processing of incoming payments and automatic invoice clearing, for which the payment pertains to.

1.Payer

Before making a mass payment, the customer/payer submits a list of invoice numbers (with the help of our service's form). The corresponding identifier is then manually saved in the bank transfer description that is being made to the payee.

2.Payee

Incoming payments are reflected on the payee's account

3.Payee

The payee recognizes the unique Settlink ID number in the bank transfer description. Upon logging into the service, a list of invoices associated with that ID is retrieved. The obtained information is then used to settle incoming payments in the customer's own financial/accounting system.

Integration and API

The diversity that exists on the financial/accounting systems market, led us to one of our main goals: unifying and simplifying communication regardless of the various systems used by our clients.

The result of our work is API, which can be utilized by any system with an internet connection.

API uses REST, which makes it possible to easily exchange data in real time.

We currently offer a ready solution for SAP ERP. Please contact us for more information regarding the time, requirements and costs associated with this service.

Does your company use a different system? Please contact us to learn how integration is possible with Settlink.

FAQ

Is the service secured?

The main objective during the design process of our service was the issue of data security. In this regard, Settlink does not require any sensitive information. Users do not need to specify the transfer amount, number of invoices, dates, and payer or payee details. The only required information is the list of invoice numbers, which is does not represent anything of value, except to the payer or payee. The simplicity of the service is also one of its greatest strengths – we did not want to create another system that would waste yours, your employees' and your business partners' valuable time.

Is invoice information available to everyone?

No, invoice information is only available to registered users that have an active subscription. Moreover, the same information cannot be accessed by different users.

How long does the implementation process take?

Full integration with SAP ERP takes about three or four days, as long as the system is configured to make automatic outgoing payments and and process electronic bank statements. However, for certain custom systems, implementation can take longer. Everything depends on the client's system configuration and number or character of additional enhancements in place.

Can you simultaneously send and receive information with the Settlink service?

Yes, upon logging into the service, a registered user gains access to a panel, where they are able to view a history of made and received payments.

Do you have to register?

Registration is not required if you only wish to generate payment summaries for your suppliers. However, it is required for all parties that wish to access invoice numbers with payment summaries.

Can the service be active for certain business partners only?

Yes, we are able to customize solutions for our clients that specific requirements to be met when generating payment summaries. For example, a minimum number of invoices for certain payment.

Contact Us

If you have any questions regarding our service, or would like to make an appointment for a presentation, please write to us.