Transform your supplier payments process with Medius Pay.
Pay all your domestic and international suppliers via a single channel – integrating Medius AP Automation with Medius Pay to create a simple, secure and streamlined vendor payment process.
Let us help with the process.
Medius Pay is a fully managed service where Medius takes responsibility for paying your supplier community through the most efficient and cost-effective manner for each supplier – whether by card, ACH, or electronic print check. We’ll even return a guaranteed annual dividend based on our forecast of credit card payment adoption.
Why Medius Pay?
Streamline the invoice
to pay process
Bring efficiency and automation to the last mile of invoicing via business spend management software featuring a fully integrated AP Automation and payments solution.
Save time and cut costs
Use spend management software to eliminate multiple payment routines and manual intervention while earning a guaranteed dividend from credit card payments.
Improve security,
reduce risk of fraud
Eliminate manual tasks, create clear audit trails, and reduce errors with top business spend management tools and a fully automated invoice-to-pay process.
All your supplier payments managed through one automated process.
We can all agree, bottlenecks are annoying. This is a sore subject if you’re manually processing supplier payments, relying on paper checks or paying fees on complex international payments.
Clunky payment processes mean lost discounts, risk of errors or duplicate payments and an open invitation for letting fraud happen on your watch.
We’re changing the way you pay suppliers. Protect your company’s cash with automated risk-scoring, digital audit trail and secure file transfer from your ERP to the bank. Process payments faster in one invoice to pay solution and make cost-efficient payments with zero wire fees for your international suppliers.
Key features of Medius Pay
Cut the cost of making payments.
Moving suppliers from expensive paper check payments to cheaper, faster digital payments reduces your costs. Plus, Medius Pay delivers guaranteed dividends from supplier credit card payments to create a revenue stream back to your business.
One process for
all payment types.
We take care of payments via every channel - card, ACH, or electronic print check – in a single consolidated process for each supplier.
Improve control and visibility.
Use Medius AP integrated with Medius Pay to get clear sight of your process from invoice to payment and eliminate manual steps. Automate your payment execution and capture approvals electronically to ensure an end-to-end record of everything related to payment activity.
Stronger supplier relationships.
Medius makes it easy to get suppliers set up and onboarded through the Vendor Marketplace. Medius Pay makes payments digital, eliminating checks wherever possible so suppliers get paid more quickly and efficiently with clear visibility into the payments process through the Medius supplier portal.
Stop mistakes before
they happen.
Prevent errors and reduce the risk of fraud with automated risk factor alerts that intelligently highlight suspect payment items for review. Access invoice history direct from your payments file, making it simple to cross-check details and interrogate the history of every payment item.
See our solution in action!
This in-depth, 13-minute video, led by one of our product experts, will show our solutions in action and how they can transform your AP.
Watch Video Overview
If you're interested in learning more about how Medius Pay can benefit your business, we invite you to watch this demo. Our demos provide a more detailed view of how the platform works, and how it can help you achieve your payment automation goals.
USA
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A unified Invoice-to-Pay solution.
Medius makes AP autonomous – using intelligent technology to reimagine how invoices move into and through your business via a process that you don’t have to touch and that gets smarter with every step.
Supplier Payment Solutions FAQs
Supplier payments solutions help businesses execute supplier payments in a digital, secure and efficient process. Supplier invoices are processed and approved as part of the accounts payable process often using an accounts payable automation solution. Once invoices are approved the next step is to authorize and transfer the payment to the supplier according to the agreed payment method.
In many organizations, the payment process is fragmented, fractured and open to the risk of error or fraud due to inefficient manual touchpoints. This is where supplier payments solutions can support by removing manual steps and consolidating processes into a single digital payments channel.
Many supplier payment solutions include automation functionality to further accelerate the payment process. These systems may also offer risk scoring features to help identify potentially fraudulent invoices and prevent payment mistakes.
Supplier payments solutions digitize and consolidate disparate processes into one streamlined channel for all supplier payments. When a supplier invoice is approved and posted to the ERP system a payment file is transferred to the supplier payment solution. Then the supplier payments solution will conduct an automatic risk scoring and payment review before initiating the payment approval process.
Once everything is clear and authorized payments may be released via a file integration to the organization’s bank.
The main functions of supplier payments solutions include digital approval processes, automatic risk scoring, fraud detection, and bank file integrations.
With supplier payments solutions, businesses can remove lengthy and error-prone manual approval processes via email or signature on paper. Instead, all review and approval steps are conducted in a secure online tool allowing for full visibility and audit trail of payment transactions.
Digital supplier payments solutions also include risk scoring functions that automatically identify anomalies – such as a new supplier, changed supplier banking details or duplicate payments –to stop potential fraud.
Bank integration is another important function where supplier payment solutions can offer a secure and fast data flow from the business ERP system directly to the bank enabling faster payment transactions.
There are many reasons for businesses to use supplier payments software. Firstly, it will remove manual touchpoints and digitize the entire payment process. Not only does this enable a fast and efficient payment execution, but it also removes the risk of errors and mistakes.
Secondly, supplier payments software can be used to automatically identify invoice anomalies to reduce the risk of fraud and duplicate payments.
Thirdly, businesses that use supplier payments software will generate important cost savings. Internal efficiency gains allow staff to spend their time on more value-added tasks. And timely payments to suppliers will remove late payment fees as well as potentially generate early pay discounts. There may also be opportunities to avoid cross-border bank transfer fees if the supplier payments software is connected to an international bank network.
Businesses can automate supplier payments processes using a digital payment solution, preferably integrated with the accounts payable system to allow for a streamlined invoice to pay process.
Traditionally many steps of the supplier payments process, including uploading transaction files to bank portals and obtaining payment authorization, have been managed manually.
A supplier payment solution can automatically conduct a risk review and flag potential fraudulent invoices as well as manage the payment approvals in a fully digital process. Once payments are authorized a transaction file can automatically be transferred to the bank via a file integration.
“After I make a payment, I download the file and can say, ‘this is when it went out, this is when to expect it.’ All the information we need is right there in front of us.”
Steve Morrison
Controller, Connor Sport Court
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