SquareWorks Consulting, a provider of accounts payable automation software and ERP services, has announced the launch of its new International Payments capability, designed to simplify global vendor transactions directly within ERP suites.
This new offering expands the SquareWorks Payment Automation suite, integrating international payments alongside existing ACH and check payment functionalities. The solution aims to address the common limitation of ERP platforms lacking built-in tools for direct management and execution of international payments, enabling accounts payable (AP) teams to onboard, manage, and pay global vendors from a single workflow without relying on disconnected third-party systems.
Bernardo Enciso, CEO of SquareWorks Consulting, stated, “The complexities of global finances can be difficult and costly for accounts payable teams to navigate. Our newest offering is designed to complete our holistic approach to payments, keeping all payments inside the ERP. By ensuring our payment solution includes both digital payments and checks included in our new global approach, we can provide our customers with a suite that meets all of their needs. Payment Automation and our new international capabilities are designed to be as multi-faceted as the financial operations our customers encounter daily.”
Key features of International Payments from SquareWorks include real-time exchange rates and payment tracking, SWIFT wire payments to over 200 countries, built-in compliance with country-specific vendor onboarding fields, and international ACH support to help reduce wire fees. The solution also facilitates international vendor self-onboarding through secure forms. Furthermore, International Payments seamlessly integrates with Invoice AI, another SquareWorks product, to extract and process diverse invoice formats and currencies. Utilizing SquareWorks Automate with International Payments offers AP teams end-to-end automation across the entire accounts payable cycle, aiming to significantly reduce manual labor and data errors while keeping all data and operations within the customer’s ERP instance.
