Mesh Payments has launched its enterprise-grade payment solution ProcurePay. According to the company, this closes the loop between procurement, payment and reconciliation processes to deliver automated payments. ProcurePay connects to ‘any’ ERP or procurement system. It creates a seamless, automated workflow from PO to payment.
Sagi Pinhas, Senior Director of Global Procurement and Facilities for digital adoption platform, WalkMe, said: “Mesh’s payments solution has become an integral part of our procurement process. The value it brings in terms of control, visibility, and enhanced compliance for every credit card payment is significant, and consolidating all of our credit card payment spend helps us to maximize our spend incentives too.”
The company’s mission, per its website, is “to empower finance managers with a whole new level of visibility, equipping them with the tools they need to optimise and control all of their corporate payments. Mesh (Payments) transforms the way finance teams operate (by using) a centralised and automated spend management platform. With a tailored solution for every payment, Mesh provides maximum flexibility while saving time and effort at every step of the payment journey.”
Mesh Payments is headquartered in New York. It claims to be is one of the fastest-growing spend management platforms in the US. Its focus is on addressing the needs of global companies.
Finance teams can use Mesh Payments to:
- power global spend
- automate manual accounting tasks
- optimise finance workflows.
Mesh Payments are already in use by a number of fast-growing brands. These include Monday.com, Hippo Insurance, Sezzle and Snyk.
ProcurePay is a procurement payment solution. The company says it connects with any ERP and procurement system. Such automation of payment processes across teams decreases the number of manual tasks or interventions. Furthermore, removing human error improves productivity.
The ‘seamless’ connection to any ERP enables:
- payment flexibility
- improved interdepartmental collaboration
- faster month-end reconciliations
- enhanced compliance with embedded spend policy controls.
In addition, ProcurePay is flexible enough to support a PO-driven process for both online and in-store purchases with synced virtual and Plug and Pay physical cards. This means buyers can pay for purchase orders in 200+ currencies in over 140 countries worldwide.
Enterprise Times: what does this mean
The launch of ProcurePay comes on the heels of significant company growth by Mesh Payments in the first half of 2023. It adds new capabilities to assist businesses save money as well as streamline finance workflows. Even better, ProcurePay is free for new and existing customers for the remainder of 2023 (longer-term pricing will follow later this year).
“Companies no longer have to suffer through manual and expensive procurement processes that lack the flexibility and real-time capabilities of modern spend management,” said Oded Zehavi, CEO and co-founder of Mesh Payments.
“We are excited to bring new safeguards and control to the critical payment piece of procurement and help companies save money by taking advantage of consolidated payment incentives too.”