Alpha’s virtual account generator can be used to create purpose-specific virtual accounts that can, for example, be assigned to individual clients or invoices. Since only the customer you issue the account to will know the account number, this ensures that when a payment comes in, you will know immediately who has paid you and what it is for. Using Alpha’s system (or your own) you can then work towards fully automating your reconciliation process.
Reduce manual processes
Reduce time working out who funds are from and what they’re for, enabling your team to focus on more value-add tasks.
Utilising Alpha’s online platform or API, virtual accounts can be used to create a fully-automated end-end reconciliation process – one that eliminates manual involvement and provides real-time visibility of funds.
Improve working capital
The time it takes to reconcile payments after they’re received slows down cash conversion and therefore ties up working capital. With virtual accounts, you can quickly reconcile funds received, accelerating cash conversion and improving working capital.