An easy way to make your Accounts Payable process more efficient
Pay EDI can be used to make EDI-formatted payments to your suppliers in Canada. 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.
Make your Accounts Payable process more efficient
You don't need to send supporting information in the mail because Pay EDI provides the payment with detailed remittance information to your suppliers
You can send instructions for simple EFT payments and more complex EDI payments
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 45 calendar days in advance of the payment due date
Funds will be withdrawn from your bank account on the date or dates you specify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:
Message Authentication (MACing) to validate that the message has not been changed while in transit
Encryption to scramble the data during communications
Control your banking needs
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.
Talk to your CIBC Representative for details or call our Business Contact Centre at
Building vibrant, sustainable communities
Read our Corporate Responsibility Report and Public Accountability Statement.