To help organisations overcome inefficiencies from lack of payment automation, Visa has combined its data and invoice management platform with Invapay's payment and invoice data engine. By doing so, firms will be able to reduce the time and effort spent on invoice matching and payment reconciliation for both buyers and sellers. CFOs will also be able to gain greater control over supplier payments without changing downstream processes.
Better spend management
Used in Visa IntelliLink Spend Management solution, Spendvision's technology allows firms to capture, manage and report all their business transactions - from statements, transactions and expense reporting, through to requisitions and payments to suppliers- from a single, integrated platform.
This transparency across business transactions enables organisations to increase their control over spendings, improve their working capital and compliance with business policies, as well as make better informed decisions.
"Real-time digitised data from a single, reliable and clean source is critical to achieving profitability objectives for business. To obtain such data, enterprises should change the way they pay and get paid by adopting easy-to deploy and cost effective relevant solutions," said Leong.