Global Exchange Expands Payments, Invoicing Services

Global Exchange is expanding its global payments services designed for the professional services space and broadening its customer scope, the company announced on Tuesday (Dec. 19).

Along with its parent company, Cambridge Global Payments, Global Exchange is introducing Invoice Automation Solutions, a new service for businesses across industries that will be added into the Cambridge Global Payments offering. The business invoice processing software can extract key information from paper invoices and other documents, the companies said.

Invoice Automation Solutions adds to the services already offered by Global Exchange, which include cross-border payment services, foreign exchange (FX) risk management and the integration of these services into existing accounting and enterprise resource planning (ERP) systems.

“We are extremely excited about the addition of Global Exchange’s Invoice Automation Solution to our product suite across all of our business geographies and vertical markets,” said Cambridge Global Payments Chief Operating Officer Mark Frey in a statement. “In our view, this is a best-in-class workflow and technology solution that will add tremendous value for our corporate clients that process a high volume of cross-border vendor payments.”

“Clients will gain from 20-plus years of international payments and workflow integration Global Exchange is widely known for, while experiencing the accuracy and efficiency that comes from a service powered by the company,” said Global Exchange Managing Director and Co-Founder Anthony F. Loiacono, Jr.

Cambridge Global Payments was acquired by FLEETCOR earlier this year for $690 million.