De Connectie saves a lot of time with Verification of Payee
Client case study for municipalities
API for organisations
integration
Faster vendor onboarding
Always up to date customer data
Update new data directly in the administration
Preventing fraud and errors
Bearing in mind that phantom invoices, phishing, etc. are common and that insufficient checks were made on supplier data, a stricter check was introduced. This meant that every supplier was emailed to ask if they could send a copy of their bank details. Suppliers found this strange and it caused a huge backlog. An employee then said: “I think this can be done differently”. This is how De Connectie ended up at Bluem. Now, when a new supplier is created, first a print screen is made confirming that the Verification of Payee for Organisations has been carried out. This is then sent to a second check, which also performs this check. This prevents fraud and errors.
Check performed within seconds
The implementation went smoothly and the dashboard could be used almost immediately. Ten employees in customer relations and accounts receivable management work with this and are very satisfied; Jane says that the job satisfaction has increased.
In addition, they used to ask suppliers to send a copy of their bank details; this often took 1-2 weeks. With Verification of Payee, the payment details are checked within seconds. The solution is customer-friendly and gives De Connectie a better image; suppliers no longer wonder whether De Connectie believes them.
Efficient business processes
De Connectie checks for company name and IBAN. When an invoice arrives, the system searches for the bank account based on this trigger. The supplier does not notice this, except for the ‘no match’ message. Relation management then performs the old-fashioned, manual action: they ask the suppliers to send a copy of their bank details.
With Verification of Payee, De Connectie always has the correct data of its suppliers. In addition, changes in account numbers can be immediately adjusted in the administration. In short: always the right customer data and more efficient, safer business processes.
International checks
In the future, De Connectie would like to be able to check foreign suppliers. Cross Border checks would therefore be interesting. In addition, the Companies Check may be interesting; it confirms the Chamber of Commerce number while performing a Verification of Payee Check. This helps organisations with their AML and KYC/KYS requirements and saves a lot of manual work.
"We have taken a hit in our business processes and are closely monitoring developments in Verification of Payee so that The Connection can continue to improve customer friendliness and efficiency."
Jane Hofman, team leader financial administration De Connection
More interesting client case studies
Verification of Payee for Organisations helps Grolsch with preventing fraud
Following an attempted fraud at another international brewery, Grolsch started to use the Verification of Payee for Organisations.
Decrease in fraud and fake orders at STRATO
Since the introduction of Verification of Payee, we see over 80% less
fraudulent orders relative to
from a year earlier.
Mitros improves processes
by using Verification of Payee for Organisations
Thanks to this solution, we know for sure
That we can get to the right person or
organisation pay.
