Medius awarded “Best Procure-to-Pay Software” 2022 By FinTech Breakthrough
UK, March 17, 2022 – Medius, a leading global provider of cloud-based accounts payable (AP) automation and spend management solutions, has once again been recognized in the annual FinTech Breakthrough Awards program.
FinTech Breakthrough, an independent market intelligence organization that recognizes top achievements within the global FinTech market, has named Medius the “Best Procure-to-Pay Software," making this the second consecutive year the business has claimed the title.
The spend management suite provider offers businesses a cloud-based and easy-to-use solution to control spend. Medius’s technology enables businesses to better manage areas such as supplier management, sourcing, contract management, procurement, AP automation, and payment automation – all of which can be seamlessly integrated into their systems.
For instance, Medius has helped customers better manage their response by providing simple tools to help with cash forecasting, networking capital, and to offer protection against fraud. The SaaS platform also enables greater control for customers in their spend management while avoiding high invoice processing costs and late payments.
Medius’ unified supply management system also helps companies accelerate onboarding, minimize data entry, and streamline supplier communications. Workflows and permissions can also be set up to ensure the right people approve requisitions and purchases. Meanwhile, the digital procurement platform raises purchase orders, receipt of goods, processes invoices, and pays suppliers. Automated coding is also powered by AI and Machine Learning, with invoice data automatically matched against purchase orders, goods receipts, or contacts. Additionally, state-of-the-art data capture powered by native “touchless capture” technology is built into the module, saving hours of productivity every week.
“Being recognized by FinTech Breakthrough validates our customer-focused mission of leveraging modern technology to build solutions from the ground up, to benefit our customers. Our extensive background in AP Automation fuels our innovative product development to power Medius solutions like our comprehensive spend management suites,” said Jim Lucier, CEO at Medius. “Our streamlined and optimized approach means procurement and finance professionals can manage spend flexibly and collaborate more effectively to improve cash flow.”
The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe. It recognises FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more.
“In such challenging times, digital transformation is empowering growth and innovation for businesses throughout the world and the most critical sectors for transformation include the procurement, sourcing and payments ecosystem,” said James Johnson, Managing Director, FinTech Breakthrough. “Medius’ is a true innovator in this space, delivering a “breakthrough” P2P software suite that eliminates manual tasks while saving time, money, and effort. This streamlined, integrated system strengthens every step in the procurement process, from requisitions through to invoice payments. Congratulations, once again this year, to the Medius team on winning our ‘Best Procure-to-Pay Software’ award.”
About Medius
Medius is a leading provider of cloud-based accounts payable automation solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control.
Thousands of customers use Medius solutions, managing transaction worth more than $180 billion annually.
For more information, please visit medius.com.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.