Batch payment approvals and multi-currency batch payments set to improve business efficiency
LONDON, 12th April 2023 – ApprovalMax, a leading provider of automated approval workflows for invoices and purchase orders, has partnered with Airwallex, a global payments and financial platform for modern businesses, to offer a powerful integration that enables users to prepare and approve payments for execution (including batch and multi-currency payments), without leaving ApprovalMax.
The integration offers a seamless solution for businesses seeking greater control over their payments by streamlining the preparation and approval of payments. The integration also gives firms the ability to manage client payments without handling manual file uploads, thereby saving time and reducing errors.
ApprovalMax has named the new functionality ‘Payments with Airwallex,’ which will be live in beta starting April 2023 for organisations in the UK.
Using Airwallex’s financial technology, businesses like ApprovalMax can seamlessly scale their business across borders. This solution provides ApprovalMax’s accounting partners and customers with an all-in-one solution that can easily automate the approval and processing of international payments.
“When batch payment approvals are managed by ApprovalMax, it transforms the way finance teams collect duly authorised invoices for batch payments while ensuring a controlled and seamless integrated data flow,”
said Helmut Heptner, Co-Founder and Director of Operations, ApprovalMax
“The vision behind our collaboration was for ApprovalMax and Airwallex to work together in order to take away the burden of manual approvals and payments. Businesses are required to implement robust financial controls in a world of connected digital processes where cyber security threats are increasing. Helping our customers get to a stage where they can approve and make faster payments leads to better business efficiency and happier suppliers in the long run.”
“It also allows us to take our partners’ service to the next level, by significantly improving their clients’ experience while not taking on any additional risks.”
“As SMEs look to expand globally, they need an end-to-end financial solution to facilitate fast, affordable payments while creating a frictionless customer experience,”
said Pranav Sood, GM, EMEA at Airwallex.
“Together ApprovalMax and Airwallex are making this a reality. This integration will not only simplify batch payments but also enable businesses to save on FX when paying employees and suppliers in their preferred currency. We’re excited to be partnering with ApprovalMax to further support SMEs as they look to scale globally.”
If your organisation manages significant payment volumes, especially those involving international transactions in local or foreign currencies, then using Airwallex for payments within ApprovalMax is an excellent option. This integration is particularly beneficial for businesses that are already using Airwallex, as well as for partners who provide or intend to offer treasury services. To take advantage of this integration, you must have active accounts with both ApprovalMax and Airwallex.
Eliminates any breaks in the chain between payments preparation and completion
Enables an improved cash flow management process by ensuring payments are authorised by the correct stakeholders
Provides an easy and affordable way to make international payments to over 150 countries in over 40 currencies
Organises payment reconciliation with transparency
Automates audit trail creation
Provides a way for accountants to make payments without needing access to client bank accounts
Enables seamless synchronisation of data to Xero, including payment information and bank feeds
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