The company also announced a new integration with Microsoft Dynamics 365 Business Central, streamlining all administrative work around managing company spending. It is also providing Single Sign-On for enterprise clients.
These new tools and features are aimed at fast-growing companies that are expanding their global footprints, the Payhawk announcement said.
“Currently, finance teams often use multiple disconnected tools for payments, invoices and expense management,” said Hristo Borisov, CEO and co-founder of Payhawk, in the company announcement. “Often paying hundreds of thousands of euros for license fees to different vendors that add the overhead of additional integration costs to the company’s main ERP system.
“We bring all these enterprise tools under one solution together with an industry-first corporate card with 3% cashback capped at our subscription. This way, we reinvest a portion of the interchanges we earn from Visa to subsidize the licenses of our customers that spend heavily through corporate cards,” he said.
Related news: Payhawk Debuts One-Click Bill Pay For Corporates
In March, Payhawk rolled out a one-click bill payment and reimbursement feature in partnership with Railsbank and joined Xero’s App Marketplace with a live bank feed to fully automate reconciliations.
The one-click bill pay feature helps companies’ finance teams use a single system for every instance of company spending, and the Xero bank feed helps them to ensure all the data is reconciled in real-time within their accounting system.
Also read: Two-Thirds of Businesses See Friction From Poorly Integrated Payments Processes
PYMNTS’ August 2021 Next-Gen Digital Payments Report, a collaboration with Transcard collaboration, shows that 65% of businesses with annual revenues between $25 million and $100 million say that lack of integration with enterprise resource planning systems is a barrier to full digitization.
