Conferma Pay expands its partnership with SAP Concur
With digital adoption and promotion around the globe, virtual B2B payments have emerged as an opportunity for businesses that prefer low cost, greater visibility and faster processing.
In such, Conferma Pay has announced that it has expanded its role in the SAP Concur partnership under which would include providing virtual payment technology to all SAP Concur travel and expense products.
The company claims that this would benefit businesses using SAP Concur solutions to overhaul and manage payments across different spend categories.
According to the press release, businesses struggle to onboard new suppliers and do not have the right tools to control payments made by colleagues working from home and with this integration, it aims to solve these by “allowing businesses to pay suppliers using virtual cards, rather than legacy checks or bank transfers”.
“Businesses using SAP Concur solutions can now use virtual cards to pay in a much wider range of scenarios, which increases automation, reduces fraud risk, and helps to better control spend,” said Paul Raymond, Director Strategic Relationships, Conferma Pay.
The company in its press release said that when the supplier sends the invoice, there would be no need for a payment approval process, instead, a virtual card would be generated against the invoice for the said amount ‘within Concur Invoice, and pre-authorised payment details are securely provided to the supplier for processing’.