Corporate payments firm Centtrip announced news on Thursday (July 5) that it has added a Batch Payments functionality, allowing businesses to make multiple payments at once.
“Gone are the days of making frequent payments, such as payroll or expenses, one by one and re-entering the same information every time,” Centtrip said in an announcement on its website, adding that individual transactions can waste time and expose a business to inaccurate payments.
The firm’s functionality now includes the ability for a business to establish a batch to pay multiple recipients via bank transfer, or using CenttripNow’s instant payments capability. Businesses can also upload an Excel or CSV sheet to initiate batch transactions, Centtrip noted.
Payments can also be made to Centtrip cards directly, while businesses that use accounting and ERP systems, including Xero, Sage, SAP or Oracle, can export spreadsheets and automatically generate a Centtrip batch payment template.
“If your company is looking to save on bank fees and run smart and efficient accounting processes, then this is a perfect solution for you,” said Centtrip Financial Director Ronny Munster in a statement. “This new feature is all about efficiency.”
“Automation is key to having successful and efficient operations,” noted Centtrip Head of Engineering Viet Lee. “This feature is a huge step forward in that direction.”
In April, Centtrip introduced its real-time payments capabilities via the CenttripNow solution. The tool is geared toward multinational corporations that need to make local and international payments.
The firm isn’t the only one enhancing corporate payment services with batch payment functionality. Last May, TransferWise, another corporate global payments service provider, introduced batch payment capability for its business customers, enabling them to make up to 1,000 payroll and supplier payments at a single time.
Similar to Centtrip, TransferWise said at the time that the feature will help companies save money and time.