Payment Solutions Platform simplifies the invoicing process and foreign vendor payments
TORONTO–(BUSINESS WIRE)–Cambridge Global Payments, a FLEETCOR company (NYSE: FLT) and leading provider of international payments and currency risk management solutions, is pleased to launch its fully integrated Invoice Automation Solution.
The Invoice Automation Solution is a fully integrated and secure process that simplifies foreign vendor payments directly from the original invoice.
The program works by extracting information directly from invoices, spreadsheets, PDFs, and more, eliminating the need for manual entry. It is an end-to-end invoice and AP process solution that sorts, extracts, images and stores payables information – in one step.
Businesses can choose to pay invoices immediately or set a future payables date, with a fixed competitive exchange rate, by simply uploading the document. Data can be extracted from each invoice for systems integration from disbursement to reconciliation, and a detailed custom remittance advice is sent directly to the foreign vendor. The program also offers customized reporting to help with internal processes, income review, and projections.
“Invoice processing has historically been a manual process that consumed a lot of time and money,” said Mark Frey, President of Cambridge Global Payments. “Our Invoice Automation Solution provides businesses with a simple, secure solution – from invoice receipt, to payment remittance, through to reconciliation, saving time and improving data collection and reporting processes.”
“Invoicing isn’t one size fits all anymore – even when it’s automated. This program is tailored to fit every business individually,” said Anthony Loiacono, Managing Director Invoice Automation Solutions. “This is great news for businesses that have been slowed down by low productivity, high invoicing costs, lack of in-house international banking expertise, and the added risk of currency fluctuations. A move to an automated solution will also support the changing role of the AP department, allowing it to switch focus from administrative tasks to policy and regulatory tasks, quality assurance, and analysis.”
The Invoice Automation Solution can significantly improve the time consuming, cumbersome and costly invoicing and international payment process. It can help businesses by speeding up processing and adding more control in ways not possible in a manual, paper-based process.
About Cambridge Global Payments
Cambridge Global Payments, a FLEETCOR company, is a leading provider of integrated cross-border payment services and currency risk management solutions. As a trusted partner for more than 25 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Our award-winning capabilities and industry-leading technologies simplify the way businesses connect with the global marketplace. As one of the largest bank-independent providers globally, we are flexible and responsive, with offices and applicable licensing and regulatory approvals across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.
Brad Loder VP, Global Business Development & Marketing Cambridge Global Payments Phone: (416) 646-6401 ext. 2392 Email: [email protected]
Press Inquiries: Keera Hart Kaiser Lachance Communications (647) 725-2520 ext. 221 [email protected]