When it comes to payments, enterprise businesses and modern platforms need three things: speed, certainty, and orchestration. For Orum customers such as Grid, Public, Flexent, CreditGenie, Beem, Kanmon, and many others, we’re delivering that and much more — transforming payment technology and enabling increased conversions, improved profitability, and growing revenues.
Today we’re building upon that transformation with a powerful new way to organize, track and report on funds with even greater precision. It’s called Subledgers — and it gives the control and clarity needed to power even the most sophisticated flow of funds and payment operations.
Subledgers allow you to segregate balances by flow of funds or by each of your customers. This means you can create subledgers to track individual transactions related to specific areas of your business, such as accounts payable and accounts receivable. If you're a platform, you also can create subledgers for each of your customers — giving you a real-time ledger that tracks the activity for each customer so you can run sophisticated treasury management while keeping detailed financial records.
Funds allocated to a subledger are reserved exclusively for that subledger’s use. Moving funds into a subledger or back from the subledger to the enterprise balance is called a book transfer and can be executed via API or via Monitor.
With subledgers, you can:
If you’re already using our Deliver API for your payment technology, subledgers are now available to you under your existing terms.
Unsure if you need to be configured with subledgers? Read the Subledger Guide for full details and then send a note to service@orum.io and we’ll point you in the right direction.
If you’re interested in delivering payments 24/7 with our extraordinary ‘Direct to Fed’ money movement solution or want to instantly verify bank accounts with our innovative technology, schedule a demo today — we’d love to give you a closer look.