Brazil’s first cloud-based ERP banking integration will help businesses streamline payments, improve expense management and reduce costs
THE Oracle NetSuite NetSuite Inc. recently announced a cloud banking integration with Banco do Brasil to help businesses in Brazil improve the speed, accuracy and security of their banking and financial transactions. By combining the power of NetSuite’s integrated cloud business system with Banco do Brasil’s digital banking solutions, the new integration makes it faster and easier for customers to pay bills, send invoices and receive payments, all from within NetSuite.
“Finance teams in Brazil can’t afford to waste time on manual processes or wait for important information,” said Gustavo Moussalli, vice president, Latin America, Oracle NetSuite. “With integrated, simple and secure banking capabilities, NetSuite is helping companies in Brazil increase efficiency, enhance financial visibility and optimize cash flow.”
The integration between NetSuite and Banco do Brasil will help companies in Brazil centralize and automate digital banking, billing, accounting and financial reporting processes, while also ensuring compliance with the country's banking regulations.
As a result, NetSuite customers in Brazil can:
- Simplify bank reconciliation processes: Customers can automate transaction matching and streamline account reconciliations with automatic import of bank flows. By eliminating manual, error-prone processes, finance teams can gain real-time access to cash positions from bank statements to improve financial visibility and enhance decision-making.
- Optimize accounts receivable processes: Customers can automatically generate invoices and receive payments via bank slips and instant transfers on Pix. With direct payment options, finance teams can reduce days of sales receivable (DSO) and optimize cash flow.
- Speed up accounts payable processes: Customers can automate invoice scanning and complete supplier payments in NetSuite. By automating accounts payable processes, finance teams can improve supplier relationships and optimize cash flow.
About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite offers an integrated system that includes financials/enterprise resource planning (ERP), inventory management, HR, professional services automation, and omnichannel commerce, used by more than 41,000 customers in 219 countries and dependent territories.
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