Pay supplier invoices digitally through your preferred issuer

 Leveraging integrated virtual payment 

Concur Invoice with integrated virtual payment powered by Conferma Pay

Leverage integrated virtual payment 

Why

Today, businesses struggle to onboard new suppliers quickly and do not have the tools to control payments made by colleagues working from home. 

What

The new integration of Conferma Pay with Concur® Invoice helps to solve these challenges by allowing businesses to pay suppliers using virtual cards, rather than legacy checks or bank transfers. 

How

When a business receives an invoice from a supplier, there’s no need to follow a cumbersome payment approval process.

Instead, a virtual card is generated against that invoice for a specific amount within Concur Invoice, and pre-authorised payment details are securely provided to the supplier for processing. The virtual payment is automatically reconciled against the invoice, reducing manual work for finance teams.

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Enabling the use of virtual cards for Accounts Payable (AP) with controls on spend amounts, validity period and merchants means:

Greater flexibility

Leverage instantly generated virtual cards to complement or remove physical payment.

Higher security

Enhance control and authorization rules to prevent fraudulent transactions and misuse.

More control

Add configurable payment controls and authorisation rules for quicker payment processing.

Better data

See enriched data in a single place and automate manual processes for better reconciliation. 

How it works in 5 steps

Optimal experience and simplicity:

  1. Receive invoices digitally, and route for approval
  2. Set payment controls on spend limits, merchants and dates
  3. Virtual cards created in real-time
  4. Communicated securely to suppliers for processing
  5. Transactions and invoice data matched automatically

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Why businesses love it

Optimised payment experience

Integrated

Virtual payment integration with Concur Invoice

Controlled

Advanced payment controls on spend limits, merchants and dates

Enhanced reporting

Enhanced reporting by linking transactions with invoice data

Working capital

Ability to increase Days Payable Outstanding (DPO) while reducing Days Sales Outstanding (DSO)

Capture more spend

Maximized card spend capture for increased commercial card incentives

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Why banks love it

Enhancing the payment experience

Speed to market

Digital innovation without the development cost

Increase spend & customer retention

Capture additional card spend and optimize clients’ payment experience

Integrated with SAP Concur solutions

World class innovative fintech solution

Security

Increased payment security and fraud prevention

Enhanced reporting

Linking transactions with invoice data offers advanced visibility

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Process flow overview

Key roles and stage explained:

  1. The invoice is captured in Concur Invoice and routed for approval
  2. Conferma Pay extracts the approved invoices every hour and presents them to the corporate buyer to review and or make payment
  3. Payment status updates become availble
  4. Conferma Pay sends payment communication to the Supplier or Acquirer
  5. Supplier or Acquirer charges virtual card
  6. Issuer sends Conferma Pay a feed of settled virtual card transaction data
  7. Conferma Pay matches invoice and settlement data received in steps 2 and 6 and produces a consolidated output file to Concur Invoice
  8. The issuer sends a statement to the corporate at the end of the billing cycle

Activation

New to Conferma Pay

1. Apply for a virtual card account

Apply for a virtual card account with your preferred Issuer.

2. Contact your SAP Concur rep

Notify your SAP Concur rep that you would like to setup virtual payments from Conferma Pay within Concur Invoice for your supplier payments.

3. Issuer sets up and submits virtual card account(s) details to Conferma Pay

Once your Issuer has completed the virtual card account setup they will securely upload these details to Conferma Pay. Conferma Pay performs virtual card account set up, quality assurance and testing.

4. Conferma Pay and SAP Concur activate your account

Conferma Pay links the account received from your Issuer. We notify your Issuer that the virtual card account build is complete and ready to use. You are provided with access to applicable Conferma Pay tools: Conferma Pay Online, Conferma Pay Snap.

New to Conferma Pay

1. Contact your issuer

Confirm with your issuer that you would like to add Conferma Pay virtual payment to your existing Concur Invoice agreement. The issuer will instruct Conferma Pay to activate your account for Concur Invoice.

2. Contact your SAP Concur rep

Notify your SAP Concur rep that you would like to add Conferma Pay virtual payments to Concur Invoice for your supplier payments.

3. Issuer sets up and submits virtual card account(s) details to Conferma Pay

Once your Issuer has completed the virtual card account setup they will securely upload these details to Conferma Pay. Conferma Pay performs virtual card account set up, quality assurance and testing.

Download the factsheet