Corpay has entered the UK market with the launch of Corpay Complete, a platform designed to improve finance operations, automate payments, and deliver real-time control across sectors.
The platform was adapted for the UK’s financial environment and unifies accounts payable processes and workflows, expense management and oversight, and domestic and international payments. The launch comes as recent data reveals that UK finance players are under pressure to do more with less time, budget, and resources. 63% of UK CFOs rank cost control as their highest business priority, according to Deloitte. Additionally, only 36% of them say that they have visibility over their cash flow, while one-third of businesses have fallen victim to invoice fraud due to manual processes and weak controls.
Improving the UK market
This trend is echoed globally, as over 50% of finance professionals are still spending over 10 hours per week processing invoices. Despite the time-consuming task, only 5% of finance teams are fully automated, according to the Institution of Financial Operations Leadership’s 2024 member survey. Fragmented systems make the situation even more negative, with 67% of global CFOs mentioning that disconnected tools are a barrier to automation and cost-efficiency.
To tackle these challenges and meet the needs of its clients, Corpay Complete aims to support UK businesses in saving time, cutting costs, and taking control over fragmented operations. This will be possible by unifying accounts payable processes & workflow, expense management and both domestic & international payments into one intelligent platform.
Those who integrate the solution can automate and digitalise the finance lifecycle, from supplier to payment approval. With customisable approval flows and a mobile-first interface, the platform aims to get rid of administrative friction and minimise the risk of errors and fraud. By accelerating approvals, businesses can strengthen supplier relationships and take advantage of early payment discounts to improve working capital. The platform also improves corporate spend control through integrated card programmes and single-use virtual cards, helping reduce leakage and unlock potential cashback of up to 1% on eligible payments.
