By doing this, Conferma Pay will provide virtual payment technology across all SAP Concur travel and expense products and help businesses using SAP Concur solutions to transform how they make and manage payments across more spend categories. The agreement builds on a successful multi-year partnership for travel payments and expense, which is also extended.
Today, businesses struggle to onboard new suppliers quickly and do not have the tools to control payments made by colleagues working from home. The new integration of Conferma Pay with Concur Invoice helps to solve these challenges by allowing businesses to pay suppliers using virtual cards, rather than legacy checks or bank transfers.
When a business receives an invoice from a supplier, there’s no need to follow a cumbersome payment approval process. Instead, a virtual card is generated against that invoice for a specific amount within Concur Invoice, and pre-authorised payment details are securely provided to the supplier for processing. The virtual payment is automatically reconciled against the invoice, reducing manual work for finance teams.
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