SOLUTION
Master Accounts Payable
Automate accounts payable and all of the back-office functions that go along with it, slashing costs and improving processes!
In need of a better way to manage AP?
Processing invoices, dealing with ad hoc requests and making payments to suppliers around the world has become such a task in the corporate world that virtually everybody has an Accounts Payable team. Their work is critical to business success and to the relationships with suppliers, but very often they are the main bottleneck in payments being cleared.
Finverity offers full automation of accounts payable by linking our payment infrastructure to your ERP or accounting system and paying suppliers when invoices reach maturity. You gain access to a dashboard that tracks all invoices and payments in real-time allowing for simple reconciliation. Furthermore, Finverity offers currency exchanges at a fraction of the banking costs and will automatically pay suppliers in their desired currency.
We also know that you don’t want to hold the risk of currency fluctuation. So, our simple and intuitive FX Hedging tool allows you to pre-agree a currency exchange rate for future outgoing payment and ensure that you have 100% certainty of how much needs to be paid. All of it is fully automated… of course!
Benefits
Cost Optimisation
The automation offered by Finverity’s platform means more work can be done by fewer people who require lower levels of support from other business functions. Furthermore, the processes get more efficient as the amount of human error is minimised.
Supplier Loyalty
Paying your suppliers on time and offering them the ability to be paid early keeps them happy and motivated to deliver high-quality goods and services in a timely manner. You can rest assured no payment will be missed so that you never lose a contract from a big supplier or fail to get inventory when it’s most needed.
Easy Implementation
As an official SAP partner and a technology-focused firm, our team has vast experience in ERP and Accounting System integration. We will work with your team to set up the workflow that will minimise disruption to your daily operations and automate processes.
Resources
The UAE: an emerging supply chain finance powerhouse
By expanding its horizons and providing significant opportunities for banks and alternative leaders in the trade space, the UAE is making significant strides toward enhancing its status as a trade and financial hub.
A new Era: Co-operation between Banks and Fintechs in Supply Chain Finance
What has held back the supply of supply chain financing for so long? The article explores how digitalisation is helping to address this problem.
Digitalization, Fintech Collaboration and Financial Inclusion – how do they all connect?
Get the latest insights from the panel discussion at GTR Mena 2022 Dubai including views from Finverity, VISA, Rakbank, Standard Chartered, Veefin & Zand