While many Accounts Payable departments deploy automation to streamline invoice processing, significant inefficiencies still exist in the “last mile” of the AP process: payments. Complex processes across multiple payment methods are both costly and carry a higher risk of error or fraud.
Medius supports customers in eliminating these inefficiencies with its launch of Medius Pay, an end-to-end payment automation solution. Medius Pay and its partner, B2B payment automation expert Nvoicepay, work to simplify, automate, and optimize the payment process. This solution has the potential to result in costs savings and reduced risk exposure.
Embedded within the Medius Spend Management suite, and fully integrated with Medius AP Automation, Medius Pay provides a single, secure channel for supplier payments, helping to simplify the end-to-end invoice-to-pay lifecycle, from receipt of supplier invoice to final settlement. The seamless process can help deliver control and transparency, with straightforward real-time reconciliation and a simplified payment execution process which is fully auditable.
Medius customers will benefit from a fully integrated invoice-to-pay solution that offers:
• Simplified payment automation with exceptional user experience
• Guaranteed and insured payment delivery
• Reduced risk of error or fraud with manual process elimination
• Fully manged supplier setup and onboarding with ongoing enablement
“Many organizations understand the benefits of payment optimization but are limited by internal tools and organisational bandwidth to effectively modernize payment processing,” said Per Åkerberg, Medius CEO. With our easy-to-deploy solution we can assist in eliminating cost and complexity from existing processes to allow businesses to confidently move forward with payment process modernization.”
Medius is a leading global provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control.
Nearly 4,000 customers and 500,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $160 billion annually.
Medius was founded in 2001 and acquired procurement solution provider Wax Digital in 2019. Today, the company has over 400 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit medius.com.
Nvoicepay™ transforms the way companies pay their domestic and international suppliers. We enable organizations to securely pay their invoices in a single electronic workflow, supported by an intuitive software interface and comprehensive services. Our solution simplifies complex AP processes, enabling finance teams to eliminate tedious data management tasks and improve efficiency. Learn more at www.nvoicepay.com and on Twitter at @Nvoicepay.