Sage gains new payment partnerships
Commercial payments companies are increasingly collaborating with enterprise resource planning software providers. By leveraging ERP access to corporate balance sheets they gain visibility and grow their client base. This also offers clients the benefits of payments automation and helps unlock working capital.
In the latest example, payment fintechs Repay and Tide, partnered with UK-based ERP software giant Sage.
Repay Holdings Corporation, the Atlanta-based B2B payments processing company has announced its Vendor Payments Automation solution into Sage 100, which enables businesses to pay vendors in a “simple, secure way while also reducing unnecessary cost”. This will be in addition to existing integration with Sage X3 and Sage 300 solutions.
The new integration will be available through APS Payments and with Repay integration into Sage, according to the company, will provide ‘comprehensive, full-service vendor enablement with both AR and AP payments automation’ and businesses will streamline processes and boost their bottom lines ‘by simply paying bills more efficiently and effectively’.
“With the addition of accounts payable solutions to our Sage 100 integration, we continue our commitment to reducing costs and optimizing the transaction process for businesses,” says Darin Horrocks, SVP, B2B, REPAY.
According to the press release, the Vendor Payments Automation solution supports the creation and approval of payment group, vendor group management, and invoicing with automatic reconciliation.
In separate news, Tide which is a non-bank commercial card issuer and payment services provider headquartered in London has announced a partnership with Sage to offer an integrated banking and accounting product for Tide SMB clients.
In this, small businesses and self-employed will be able to use and take advantage of the new product that combines banking and accounting by connecting banking data with Tide’s existing finance and admin tools to Sage’s accounting and compliance as a service platform (ACaaS), the members would be able to streamline financial and tax compliance process.
Last year, Tide became a Mastercard principal issuer.
Tide will start a trial of its accounting and compliance solution with its 340,000 members later this year.