Customer FAQs
Frequently asked questions about sharing information using Codat
To address your customer's questions or concerns, use the information we provided below. The answers are written from your organization's perspective, so you can share them exactly as they are or amend them to reflect your business processes.
Why am I sharing my data?
Sharing a spend file is one of the essential pieces for driving the success of your card program. This information enables us to accurately analyze your spend, identify cardable opportunities within your supply chain and, ultimately, help you achieve your AP goals. This includes improving working capital, preserving float, increasing rebate revenue, or other goals your finance team may have.
However, we understand that it can be challenging to share this information. Sharing this information directly from your financial software is a new option that saves you time and removes the hassle of manually submitting financial data to us. The journey to connect your financial software takes just a couple of minutes and is a faster and more secure way of providing this information. It also means that we will have access to the most up-to-date and relevant financial data to provide our service.
What is Codat?
We are working with Codat to provide a solution that enables direct integration to your financial software via Codat’s platform. Codat provides the technical infrastructure that allows us to access your financial information by aggregating your financial data and sharing it with us. We use this to provide you with a customized service. If you choose to share your data with us via Codat, Codat will not share it with anyone else. Codat does not sell the data they have access to.
How is my data accessed?
Your data is accessed securely using your accounting software. You control this access and Codat will ask you to provide authorization before the access is granted. Neither we nor Codat will have access to your login credentials through the connection.
What data am I sharing?
You are sharing your supplier and accounts payable information. This allows us to calculate who you are paying, how much you are paying, and how you are paying them. From this, we can determine what savings and value a virtual card payments solution could deliver to your organization.
Specific data you will share may include, but is not limited to company information, suppliers, bills, bill payments, bill credit notes, direct costs, payment methods, and tax rates.
How secure is my data?
Your data is encrypted in transit using at least TLS 1.2 protocol, and at rest using Advanced Encryption Standard (AES-256) technology. It is protected to the standards required by the General Data Protection Regulation (GDPR). Codat are externally certified to ISO 27001 information security standards.
Can I disconnect?
Yes. If you would like us to remove the data connection for any reason, notify us and we can instruct Codat to do so. Alternatively, you can disconnect the integration from within your accounting software.