Disputes Duplicate Electronic Funds Transfer (EFT) 
Stax
MARCH 27, 2025
Thats why 92% of consumers and 82% of companies reportedly made the switch to electronic payments, like Electronic Funds Transfers (EFT) and Automated Clearing House (ACH). EFT and ACH payments are fast, secure, and hassle-free. Thats Electronic Funds Transfer (EFT) in action.
Nanonets
NOVEMBER 30, 2023
For accounts payable internal controls best practices, strong internal controls should use technology-based systems to detect and flag possible errors, including duplicate invoices, and prevent potential fraud. AP automation systems flag exceptions and duplicate invoices to avoid payment errors.
Nanonets
JUNE 27, 2023
Additionally, manual processing increases the risk of errors, leading to invoice discrepancies, payment disputes, and time-consuming reconciliation processes. This can involve generating payment files, initiating electronic funds transfers (EFT), issuing checks, or utilizing other payment methods.
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