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Major Upgrades to Money Forward Cloud Payables

Money Forward, a leading financial technology company, has introduced substantial updates to its Cloud Payables system, aimed at streamlining payment request processes and enhancing overall operational efficiency for businesses. The recent updates address key user feedback concerning the payment request preparation screen and the integration of foreign currency exchange rates, as well as improving compatibility with core business systems in larger enterprises.

Key Features of the Update

This latest update encompasses a range of improvements, including the overhauling of the payment request creation screen, the introduction of a notification feature, the addition of currency exchange rate settings, and the release of an API for receiving invoices. Let’s delve into the specifics of these functionalities:

1. Revamped Payment Request Creation Screen
The user interface for creating payment requests has been redesigned to enhance usability. Users can now preview invoices while preparing requests, either through a preview display directly in the interface or in a separate window, which improves workflow efficiency.

2. Notification Feature
The new notification system alerts responsible parties via email or through internal communication tools upon receiving an invoice. This functionality allows for better tracking and management of outstanding payments.

3. Currency Exchange Rate Settings
Businesses can now seamlessly manage foreign currency invoices. When editing payment requests, users only need to select the transaction date and currency, and the system automatically applies the appropriate rate. This feature simplifies the processing of invoices in foreign currencies and allows for pre-registration of currency rates and periods.

4. Invoice Reception API
The update includes an API that makes it easier to integrate invoice data with other systems. This is particularly beneficial for users managing orders through core business systems, enabling smoother reconciliation and management of purchase orders.

These updates collectively aim to significantly enhance the efficiency of invoice management in enterprises, allowing for streamlined operations and better control over financial workflows.

Background of the Updates

The development of these improvements stemmed from user requests for enhancements in the payment request creation process, as well as feedback regarding the cumbersome nature of setting exchange rates. Companies, particularly in the enterprise sector, have expressed a need for improved compatibility with their core business systems to facilitate seamless order processing. This resulted in the addition of various features designed to meet these demands effectively.

Future Development

Money Forward Cloud Payables is committed to continuously evolving its services. The platform aims to enhance the efficiency of invoice receipt and payment request processes, thereby providing comprehensive support to users of all sizes in advancing their business operations.

Additional Features

• - Enhanced Preview and Display: The new screen allows for easier navigation and data copying from invoices, further facilitating the payment request process.
• - Customizable Notification Settings: Users can now set specific notification preferences to ensure they are timely informed about invoice receipts.
• - Tailored Currency and Exchange Rate Management: Businesses can customize how rounding and rate settings work, providing more control over financial transactions.
• - Updated API for Seamless Integration: The new APIs make it easy to upload invoices and manage invoice-related functions from the Money Forward Cloud app portal.

About Money Forward Cloud Payables

Money Forward Cloud Payables is a comprehensive debt management system that streamlines processes related to invoice and workflow management. By digitizing approval and payment processes, it reduces reliance on paper-based methods, facilitating a more environmentally friendly and efficient approach to financial management. The system supports teleworking by enabling remote submission and approval of payments, enhancing flexibility for organizations.

About Money Forward Inc.

Founded in 2012, Money Forward Inc. operates its headquarters in Minato, Tokyo. The company, led by CEO Yosuke Tsuji, is dedicated to offering platform services that empower individuals and businesses to manage their finances effectively.

For more details, visit: Money Forward Cloud.
For corporate info, please refer to: Money Forward Corporate.