NACHA Releases “Essentials Guide” to Support Businesses
NACHA Releases “Essentials Guide” to Support Businesses with Implementation of Same Day ACH
Resource Provides Accounts Payable, Receivable and Credit Professionals with Guidelines to Implement Same Day ACH in Their Businesse
HERNDON, VA – Today, NACHA – The Electronic Payments Association® announced the release of the "Same Day ACH for Businesses Essentials Guide," a comprehensive resource that businesses can use to support the various uses, impact, and implementation of Same Day ACH. Same Day ACH, an initiative that will speed up automated clearing house (ACH) payments by enabling the sending and crediting of payments on the same day, becomes effective Sept. 23. The free resource will provide key guidance on Same Day ACH opportunities, benefits and value to businesses, and action plans for sending and receiving same-day payments.
"Through our Corporate Relations efforts, NACHA regularly engages businesses to discuss their payment needs and opportunities," said Rob Unger, Senior Director, Product Management and Strategic Corporate Relations at NACHA. "With respect to Same Day ACH, businesses are seeking help to understand how Same Day ACH can reduce costs, improve processing efficiencies, and, very importantly, enhance customer service. The purpose of the "Essentials Guide" is to enable payables and receivables decision makers to initiate conversations in their organizations regarding Same Day ACH preparations because Same Day ACH will affect every business that currently uses the ACH Network."
NACHA’s new "Essentials Guide" is a suite of materials that includes a PowerPoint presentation, an infographic, and three separate "essentials" documents outlining Same Day ACH implementation considerations for payables and receivables processes, including Hire-to Retire, Order-to-Cash, and Procure-to-Pay. The resources can be used internally or shared with other business partners to further education and understanding of Same Day ACH.
In addition to this new resource, NACHA’s Corporate Relations Program provides other educational opportunities for businesses, including Webinars and informational newsletters, to help support their implementation and use of ACH payments. Its most recent Webinar, Same Day ACH for Businesses: Defining Opportunities & Implementation Essentials, featured a panel of three corporate accounting and finance professionals responsible for the multi-million dollar cash flows of top U.S. corporations, who shared the essentials of Same Day ACH compliance and their best strategies, tips, and tactics for enhancing payments and receivables performance. Additionally, NACHA’s Corporate Relations Program leverages its corporate payments subject
matter experts to disseminate actionable data and practical information to support businesses in their efforts to use to ACH payments.
To download a copy of Same Day ACH for Businesses Essentials Guide, visit www.nacha.org. For more resources on Same Day ACH, including the "Same Day ACH: A Guide to Opportunities and Implementation" publication, visit www.nacha.org/same-day-ach. For more on NACHA’s Corporate Relations Program and its initiatives, visit www.nacha.org/corprelations.
About NACHA – The Electronic Payments AssociationSince 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S. The Network moves money and information directly from one bank account to another. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.