Medius Pay Achieves Integration with RISE with SAP S/4HANA® Cloud
Medius Pay integration with SAP S/4HANA ® speeds up payment processing, improving vendor relations and reducing the risk of late payments. The integration helps organizations enjoy automatic payments matching solutions - to capture and group payments, and automatic payments reconciliation with full oversight over the payments process. This builds on the successful integration of Medius’s AP Automation solution with RISE with SAP S/4HANA ® Cloud last year.
“Mounting economic pressures are driving businesses to look towards innovative solutions to their administrative issues, and forcing them to think about how they can automate manual processes within their finance departments. Processes which have been dormant for years,” said Magnus Jonasson, VP of Product Management at Medius. “While many Accounts Payable departments deploy automation to streamline invoice processing, significant inefficiencies still exist in the payment process. By integrating Medius Pay with RISE with SAP S/4HANA Cloud, we can improve the invoice-to-pay process for our customers and double-down on fraud and risk mitigation.”
Medius is an SAP Silver partner and a proud member of the SAP PartnerEdge Build Program. Magnus adds, “this is a welcome step in our long-standing partnership with SAP, and as Medius and SAP products continue to evolve we will see further integrations of Medius solutions taking place.”
Out-of-the-box integration with RISE with SAP S/4HANA Cloud means that payments data flows between Medius and SAP, so data is in sync. With the modern technology platform to electronically capture, digitize, process, and make payments — regardless of format — companies have complete visibility of their entire payments process.
Increases in efficiency derived from the integration can help reduce employee churn, improve vendor relations, and consolidate admin relationships. It also provides risk factor oversight and anomaly detection to reduce the risk of excessive costs and fraud, which has been calculated at over $280,000 per business in the last year, according to Medius’s Financial Professional Census report for 2022.
The SAP Integration and Certification Center (SAP ICC) has certified that the integration software for its Medius Pay integrates with RISE with SAP S/4HANA Cloud using standard integration technologies. RISE with SAP S/4HANA Cloud is an innovative, lightweight cloud platform designed to help run a successful business in the cloud.
Medius links invoice capture, processing, and payment to replace the worry and wondering of managing AP with calm and confidence. Medius goes far beyond basic automation by using artificial intelligence to do most of the work – so invoices get confirmed, coded, and paid; AP teams get to go home and rest easy; and businesses can trust their budgets and forecasts.
Medius is a partner in the SAP® PartnerEdge® program. The SAP PartnerEdge program provides the enablement tools, benefits, and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. Visit medius.com to learn more.
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