The integration of Finvi Payments into the Artiva RM platform is aimed at helping accounts receivable management (ARM) departments in streamlining their operational systems and payment platforms. Here are some key points from the disclosed information:
- Integration Details: Finvi has officially integrated its Finvi Payments solution into the Artiva RM platform, creating a cohesive and comprehensive solution.
- Benefits for ARM Departments: The integrated solution is designed to help ARM departments bridge the gap between their operational systems and payment platforms. It offers several benefits, including enhanced revenue recovery, uninterrupted payment plans, automation of payment reversals, and simplification of reconciliation challenges.
- Statement from Dan Ward: Dan Ward, the Vice President of Payments Commercialization at Finvi, emphasized the strategic importance of this integration, stating that it fulfills the promise of having payments and a core application under the same umbrella.
- Development Speed and Resource Optimization: The seamless integration of Finvi Payments and Artiva RM is expected to increase development speed, allowing for quicker provision of features and functionality. This will free up resources for more innovative and value-added projects and reduce the time spent on manual tasks.
- Finvi Payments’ Key Features: The Finvi Payments solution consists of three essential components:
- Account Updater: Automatically checks and updates card information without requiring customer intervention.
- Automatic Payment Reversals: Keeps the Artiva RM system up to date in case of payment returns.
- Advanced Payments Reconciliation Report: Speeds up the reconciliation process by providing information on when payments clear and how much money each client has.
- About Finvi: Finvi is a leading provider of enterprise technologies that streamline and expedite revenue recovery for various sectors, including healthcare, government, accounts receivable management, and financial institutions. The company focuses on process automation, modern communication and payment tools, and compliance to create innovative solutions with a service- and innovation-centered approach. This approach empowers clients to generate more significant revenue at reduced costs while focusing on effective engagement with those who pay.
This integration appears to offer significant advantages to organizations dealing with accounts receivable management, simplifying payment processes and enhancing overall efficiency.