Spenda Accounts Payable x Spenda Wallet: The faster and more secure way to pay invoices
Spenda, a leading B2B software and payment solution provider, has announced a significant upgrade to its Accounts Payable (AP) solution. The new self-guided setup feature empowers users to onboard themselves quickly and efficiently, streamlining the payables process and saving valuable time.
To complement the AP solution, Spenda has also released a payment authorisation app, Spenda Wallet, and when used together, these two products not only speed up invoice payments but also deliver a comprehensive safeguard against accounts payable fraud.
Spenda Accounts Payable: Effortlessly manage supplier payments and drive stronger cash flow
Digitising and streamlining the accounts payable process means businesses can reduce their invoice processing time by 74 per cent, leaving teams to focus on more strategic and meaningful work.
Key benefits of Spenda’s AP software include:
- Protect your business against fraudulent transactions: By limiting the ability to tamper with ABA files, account, and payment information, and assigning specific approval responsibility to employees, businesses can ensure that each invoice has gone through the appropriate checks before payment is released.
- Increased accuracy: Digitising processes means fewer hours (and costs) wasted on human resources needed for manual invoice processing. Reducing the likelihood of data-entry errors and removing potential duplicated payments.
- Never recreate multiple versions of the same batch payment: When last minute invoices are added or removed from a batch, simply make changes to batch payments during the review process by deselecting an invoice from a batch.
- The ability to pay multiple suppliers in one place: Conveniently view and pay connected suppliers from one easy-to-use dashboard. Track, group, and batch-pay outstanding invoices with integration into your accounting software or via an ABA file upload to gain visibility on your outgoing payments.
- Access more payment options: Businesses now have more flexibility in how and when they make payments with access to a variety of payment options, including split payments and the ability to pay via card, even if their suppliers do not accept card payments.
- Quick integration: All transactions are fully integrated with small business accounting software or larger ERP management systems. Businesses can use real-time data to make informed decisions, say goodbye to manual data entry errors, and stay on top of your cash flow.
Spenda Wallet: Your go-to mobile payment authorisation application
With Spenda Wallet, accounts payable teams can unlock improved efficiency, security, and flexibility. This product is intended to support Spenda’s AP software solution and enables authorised users to collaborate with their team in real-time and edit and approve invoice batch payments from their mobile device, wherever they are.
With Spenda Wallet, businesses will be able to:
- Fast-track approvals: Once your AP department sets up the payment batch, authorised users will receive personalised notifications on their mobile device, removing cumbersome approval emails and text chains.
- Unlock more payment options: Approvers will receive a payment authorisation request notification and upon review they can choose to pay with a pre-configured payment option or add a new payment method.
- Process secure payments: Spenda has implemented a series of strict security layers, including biometric scanning and SMS code approvals, to ensure authorised users are identified correctly before approving payments. Create custom approval layers with the option to add multiple approvers with sequential approval settings.
Supercharge your accounts payable process today
By using Spenda’s AP and Wallet combination, Australian businesses will have better control of their payables process, saving valuable time and effort, and ensuring payments are processed quickly and accurately.
To set up a Spenda account and get 30 days free* click HERE
To download Spenda Wallet on the App Store, click HERE
To download Spenda Wallet on Google Play, click HERE
*30 Days Free Promotion Terms & Conditions
