Global companies now have access to automated bill payment services, courtesy of Verto's latest offering.
Verto Introduces Accounts Payable Solution for Simplified Global Payments
Verto, a leading global B2B payments platform, has launched a new accounts payable feature aimed at streamlining international invoice payments. This innovative solution, part of Verto Accounts, is designed to eliminate time-consuming, error-prone, and costly pain points for businesses operating at scale, particularly those in Africa and other global markets.
The accounts payable solution offers automated data extraction from invoices, eliminating the need for manual data entry and reducing errors. Pre-filled payment forms based on extracted data speed up the payment process, while direct payments from uploaded invoices allow for instant payment initiation upon upload.
Intelligent beneficiary matching is another key feature, automatically associating payments with the correct recipients for improved tracking and financial visibility. The solution supports 49 currencies, facilitating seamless international payments.
According to recent industry data, automating accounts payable processes saves businesses approximately 9.9 hours per week, equating to over 500 hours a year. By streamlining global accounts payable, this solution cuts down manual tasks, improves accuracy, and enables faster processing of international invoices.
Tomasz Bilakiewicz, Product Director at Verto, said, "We're excited to introduce this new feature as it addresses complex foreign exchange navigation and repetitive admin tasks, offering businesses a more efficient and effective way to manage their accounts payable processes."
The accounts payable solution is fully integrated into Verto's Exchange Now feature, providing a comprehensive solution for businesses seeking to automate their international payments. It is now available globally to all Verto customers via Verto Accounts.
In summary, Verto's new accounts payable solution offers automation of international invoice payments with several key features and benefits aimed at streamlining global bill payment processes. By automating and simplifying the payment of invoices internationally, the solution improves efficiency and reduces operational complexity.
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