CIBC Pay EDI

An easy way to make your Accounts Payable process more efficient

Pay EDI can be used just to make EDI-formatted payments to your suppliers in Canada, or as part of a complete payables outsourcing solution that combines electronic and cheque payments. Simply send CIBC one file that indicates the type of payment you wish to make and CIBC will provide remittance details to your suppliers in the format you have requested. A complementary service, Cheque-Mate, will use EDI-formatted payment instructions to create and send a cheque to suppliers for whom you do not have banking information, or who prefer to receive a non-electronic payment.
 

Make your Accounts Payable process more efficient

  • You don't need to send supporting information in the mail because Pay EDI provides a payment with detailed remittance information to your suppliers
  • You can send instructions for simple EFT payments, more complex EDI payments, and the preparation of physical cheques in a single file
     

Gain better control of your cash flow

  • Time your payments to the due date for accurate cash flow forecasting
  • Take advantage of supplier discounts while reducing your handling costs for payment processing - your file can include payments with multiple due dates
  • Never miss a payment by future-dating your payments in advance of the due date
  • Funds will be withdrawn from your bank account on the date you specify
     

Offer convenience and security to your suppliers

  • Your suppliers will receive their money on time, every time
  • No need for your suppliers to prepare deposits and visit the bank or banking machine
  • CIBC offers two levels of security
     

Run your business your way

CIBC Cash Management Solutions can help you take better control of your banking needs - giving you more time to focus on what matters to your business. Get started today:

  • Talk to your CIBC Representative for details or call our Business Contact Centre at 1-888-947-7736