Create, execute and reconcile Bulk Payouts in under 30 seconds with ZTLment
9 Aug 2023
Frederik Fuglsbjerg, Marketing
Managing a high volume of smaller payouts to stakeholders has historically been a labor-intensive and error-prone process. Traditional methods involving manual verification, reconciliation, and transfers can lead to inefficiencies, delays, and potential discrepancies. In today's dynamic business environment, there's a growing need for a solution that not only accelerates payouts but also ensures transparency, security, and accuracy.
Finance workflows, without the work
At ZTLment, a big part of our product philosophy is around “finance workflows, without the work”. We want your payments to flow as easily as possible, while still ensuring:
✅ End-to-end payout compliance
✅ Four-eyes approval flows
✅ Administrative work like reconciliation and audit take place in the background
How it works with ZTLment
Extract all payout data from your ERP
Upload your payout data in the ZTLment dashboard
Bulk approve all payments
Sign off on all payments in one swipe
All payouts are automatically reconciled with end-to-end audit trails in the background
Advantages of Using ZTLment Smart Contracts for Bulk Payouts
Efficiency and Automation: Smart contracts automate the entire payout process, from initiation to payout distribution. This not only saves time but also frees up resources to focus on higher-value tasks.
Transparency and Trust: Smart contract’s inherent transparency ensures that every transaction is recorded and tamper-proof. Stakeholders can track their payouts in real-time, fostering trust between the company and its stakeholders.
Accuracy and Reliability: Human errors can lead to costly mistakes in traditional payout methods. Smart contracts execute precisely according to predefined rules, reducing the risk of errors and ensuring accurate payout distributions.
Cost Savings: By eliminating intermediaries, companies can significantly reduce transaction costs associated with bulk payouts. This cost-effectiveness can translate into higher profitability and competitive advantages.
Instant Settlements: With smart contracts, payouts are executed automatically once conditions are met, leading to near-instant settlements. This is especially beneficial for global transactions involving different time zones and currencies.
Curious to see more about what ZTLment can do to automate your finance workflows? Feel free to book a demo below!
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