EFTsure is a third-party validation subscription.  The primary focus is to validate business and bank account details.  This helps minimise fraud – both external AND internal.

New vendors MUST go through the EFTSURE onboarding process before any invoices are paid.

The onboarding form collects information we require to satisfy financial compliance, and safety compliance

Automatic reminders are sent to vendors for insurances (PL, WC, PI), trade licences (QBCC, etc.) and safety docs (SWMS & Plans) every 12 months, or based on Expiry Date entered

Payment details are also checked each payment run to ensure the details in the bank load file still match to EFTsure’s validation.

Will be used for employee onboarding in the future.