Using Electronic Data Interchange (EDI) with INB allows your company to gain more control over cash flow, increase the efficiency of your payables processing, and reduce fraud.
EDI transactions are sent electronically through the ACH network and typically contain more information than standard ACH payments. EDI transactions allow you to transfer funds and give remittance detail such as invoice number, pay dates, and instructions to your trading partner.
INB gives you the capability to originate and accept EDI transactions by instructing your customers or trading partners to send your payments and remittance information directly to us. We will post the incoming payments to your account and make your remittance detail available on a secure website, so you can automatically update your receivables system.
With INB’s Electronic Data Interchange, you can receive information at any time by accessing the secure website. Your company will save on time and costs associated with manual processing and mailing, and since we process the payments for you, there is no need to invest in an EDI translation system.