ACH (Automatic Clearing House)
The Automatic Clearing House (ACH) is a payment system that facilitates the electronic transfer of funds between two or more entities. It enables transactions to be processed quickly and securely by automating the exchange of financial information between participating institutions via an electronic network. The ACH system has become an essential tool for businesses in procurement as it provides a fast, safe and cost-effective way to process payments and reduce paperwork associated with manual processes.
