Today, businesses struggle to onboard new suppliers quickly and do not have the tools to control payments made by colleagues working from home. 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.
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.
Paul Raymond, Director Strategic Relationships, Conferma Pay commented: “Building on our successful SAP Concur partnership for virtual payments in travel, we are expanding to also bring this capability for B2B payments integrated with Concur Invoice. Businesses using SAP Concur solutions can now use virtual cards to pay in a much wider range of scenarios, which increases automation, reduces fraud risk, and helps to better control spend.”