Medius Unveils Medius Payments for Seamless AP Automation Payment Solutions
Medius, recognized as a frontrunner in Accounts Payable (AP) automation and spend management solutions, recently introduced Medius Payments. This innovative solution is designed to streamline the payment execution process for finance teams by integrating it directly into the existing AP automation workflow. As businesses increasingly seek efficiency and security in their financial operations, this launch represents a significant advancement in payment automation.
The standout feature of the Medius Payments system is its capability for Straight Through Payments. This allows users to create and execute payment batches smoothly from within the Medius platform without the cumbersome need for transferring ERP files or utilizing middleware. Payments are securely channeled through the organization’s current bank accounts, providing customers with greater control over their funds while simplifying the disbursement process.
Medius Payments enhances the previously established Medius Pay solution, bringing support for a wide array of payment methods. Users across the United States, Europe, and globally can now process payments using ACH, SEPA, BACS, CHAPS, BankGiro, wire transfers, checks, and even virtual cards. This diversity, coupled with multi-currency capabilities, positions Medius Payments as a compliant and consistent solution for finance teams managing supplier payments.
Unlike add-on payment solutions, which can lead to a disjointed experience, Medius Payments is built directly within the Medius AP ecosystem. Critical controls such as approval rules, fraud detection, and comprehensive audit trails are integrated seamlessly into the system. This setup not only mitigates the risk of fraud but also enhances visibility and expedites payments that adhere to corporate policies. The necessity for additional software or manual interventions is also eliminated, showcasing Medius Payments' efficiency.
Moreover, the integration with customers' ERP systems allows for a synchronized audit trail, which is vital for compliance and reconciliation tasks. With the added transparency from invoice capture to final payment, finance teams can perform their duties with increased confidence and productivity. Suppliers, too, notice a significant improvement as they benefit from swifter payment processing and enhanced remittance details, ultimately aiding their cash flow management.
"Finance teams are often burdened with excessive tools that complicate their processes. What they really need are fewer, smarter tools," Gary Hall, Chief Product Officer at Medius, commented. He emphasized that Medius Payments simplifies the movement of money by embedding the payment process directly into the AP workflow. This approach provides a clear and secure path from invoice to payment execution, maintaining the existing banking practices of their customers.
Ekaterina Dzhalchinova, Vice President of Product Management at Medius, highlighted that automation reaches its full potential when it extends across the entire process cycle. According to Dzhalchinova, Medius Payments is a pivotal step in this direction, designed to cater to the intricate requirements of mid-market and enterprise finance teams while delivering a cohesive user experience.
The release of Medius Payments embodies Medius' overarching goal to eliminate financial operation fragmentation, ensuring complete visibility from the moment invoices are received until payments are settled. For those keen to explore this new system further, detailed information can be found on the Medius website.
This launch redefines what finance teams can expect from payment automation, placing them at the forefront of operational efficiency and security in financial management. With a focus on reducing complexity while enhancing capabilities, Medius Payments is poised to transform how organizations handle their accounts payable functions.
The standout feature of the Medius Payments system is its capability for Straight Through Payments. This allows users to create and execute payment batches smoothly from within the Medius platform without the cumbersome need for transferring ERP files or utilizing middleware. Payments are securely channeled through the organization’s current bank accounts, providing customers with greater control over their funds while simplifying the disbursement process.
Medius Payments enhances the previously established Medius Pay solution, bringing support for a wide array of payment methods. Users across the United States, Europe, and globally can now process payments using ACH, SEPA, BACS, CHAPS, BankGiro, wire transfers, checks, and even virtual cards. This diversity, coupled with multi-currency capabilities, positions Medius Payments as a compliant and consistent solution for finance teams managing supplier payments.
Unlike add-on payment solutions, which can lead to a disjointed experience, Medius Payments is built directly within the Medius AP ecosystem. Critical controls such as approval rules, fraud detection, and comprehensive audit trails are integrated seamlessly into the system. This setup not only mitigates the risk of fraud but also enhances visibility and expedites payments that adhere to corporate policies. The necessity for additional software or manual interventions is also eliminated, showcasing Medius Payments' efficiency.
Moreover, the integration with customers' ERP systems allows for a synchronized audit trail, which is vital for compliance and reconciliation tasks. With the added transparency from invoice capture to final payment, finance teams can perform their duties with increased confidence and productivity. Suppliers, too, notice a significant improvement as they benefit from swifter payment processing and enhanced remittance details, ultimately aiding their cash flow management.
"Finance teams are often burdened with excessive tools that complicate their processes. What they really need are fewer, smarter tools," Gary Hall, Chief Product Officer at Medius, commented. He emphasized that Medius Payments simplifies the movement of money by embedding the payment process directly into the AP workflow. This approach provides a clear and secure path from invoice to payment execution, maintaining the existing banking practices of their customers.
Ekaterina Dzhalchinova, Vice President of Product Management at Medius, highlighted that automation reaches its full potential when it extends across the entire process cycle. According to Dzhalchinova, Medius Payments is a pivotal step in this direction, designed to cater to the intricate requirements of mid-market and enterprise finance teams while delivering a cohesive user experience.
The release of Medius Payments embodies Medius' overarching goal to eliminate financial operation fragmentation, ensuring complete visibility from the moment invoices are received until payments are settled. For those keen to explore this new system further, detailed information can be found on the Medius website.
This launch redefines what finance teams can expect from payment automation, placing them at the forefront of operational efficiency and security in financial management. With a focus on reducing complexity while enhancing capabilities, Medius Payments is poised to transform how organizations handle their accounts payable functions.
Topics Financial Services & Investing）
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