Why Medius Pay?

Improve security, combat fraud Icon
Improve security, combat fraud

Medius Pay uses AI and machine learning to actively identify potentially fraudulent payments and highlight them to approvers for review

Revolutionise cross-border payments Icon
Revolutionise cross-border payments

Same day money movement and no bank charges for you or your international suppliers, all managed and executed in the same intuitive and efficient process as your domestic payments

Save time and cut costs Icon
Save time and cut costs

Eliminate manual processes, consolidate all your payment activities in a single stream, cut out the overheads of maintaining multiple banking interfaces and avoid international wire fees

All your supplier payments managed through one automated process

Common challenges you face

  • Traditional payment processes touch several different systems and include numerous manual touchpoints
  • While cross-border business activities continue to increase, international payments still involve lengthy processes and heavy bank fees
  • 2020 was the largest year on record in terms of fraudulent payment behavior*
  • Only a third of businesses have automated the payment execution process*

*Source: Ardent Partners: The State of ePayables 2021

Risks of not having a solution in place

  • 38% of businesses reported a B2B payment fraud attack attempt over the past year*
  • Lengthy invoice to pay processes result in delayed supplier payments, lost discount opportunities and potential supply chain disruption
  • Manual steps increase the risk of errors, mistakes and fraudulent payments

*Source: Ardent Partners: The State of ePayables Report 2021

Rewards of Medius AP Automation solution

  • Enhanced security with automated risk-scoring, digital audit trail and file transfer from ERP to bank with secure integration
  • Faster payments with less effort thanks to a streamlined process in one system for invoice and payment processing
  • Cost-efficient cross-border payments, allowing for same-day value transfer and zero wire fees for your international suppliers

Common challenges you face

  • Traditional payment processes touch several different systems and include numerous manual touchpoints
  • While cross-border business activities continue to increase, international payments still involve lengthy processes and heavy bank fees
  • 2020 was the largest year on record in terms of fraudulent payment behavior*
  • Only a third of businesses have automated the payment execution process*

*Source: Ardent Partners: The State of ePayables 2021

Risks of not having a solution in place

  • 38% of businesses reported a B2B payment fraud attack attempt over the past year*
  • Lengthy invoice to pay processes result in delayed supplier payments, lost discount opportunities and potential supply chain disruption
  • Manual steps increase the risk of errors, mistakes and fraudulent payments

*Source: Ardent Partners: The State of ePayables Report 2021

Rewards of Medius AP Automation solution

  • Enhanced security with automated risk-scoring, digital audit trail and file transfer from ERP to bank with secure integration
  • Faster payments with less effort thanks to a streamlined process in one system for invoice and payment processing
  • Cost-efficient cross-border payments, allowing for same-day value transfer and zero wire fees for your international suppliers

Stop paying your suppliers the old-fashioned way. Use payment automation from Medius

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One process for all payment types

Medius Pay enables you to pay all your suppliers, both domestic and international, via a single channel. Consolidating multiple processes in one secure and efficient pathway lowers overheads and risk.

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Faster, cheaper cross-border payments Image
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Faster, cheaper cross-border payments

Employing a global network of local currency accounts, Medius Pay facilitates same-day payments to suppliers across 170 countries and in 140 currencies with none of the fees usually incurred by buyers and suppliers.

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Total control and visibility

Get clear sight of your process from invoice to payment and eliminate manual, off-system steps. Automate your payment execution and capture approvals electronically to ensure an end-to-end record of everything related to payment activity.

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Digital solutions that slash error rates

The Medius promise centres on software that frees your team from inefficient, unproductive manual processes. Medius Pay takes that promise into the payments space, cutting out the complexity that leads to error and confusion.

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Stronger supplier relationships

Keep your suppliers on your side by delivering timely, cost-free payments and providing clear visibility into the payments process through the Medius supplier portal.

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Enjoy invoice to pay efficiency

Medius Pay boosts productivity by working seamlessly with Medius AP Automation to deliver a unified user experience across the complete workflow – from receiving an invoice to making the payment. Medius handles every step of the process.

Join these organisations who depend on Medius to spend smart

Join these organisations who depend on Medius to spend smart

Benefits of Payment Automation

Reduced risk of fraud

With a digital payment solution, you’ll get access to automatic risk scoring. The system can flag any invoices as potential fraud for example when received from a new supplier, when payment details have been changed, or when there is a risk of duplicate payments.

Find out more about reducing payment fraud in this Gartner Report: How do you reduce fraud in the accounts payable process? 

Increased control and visibility

When the entire invoice to pay process is managed in the same digital solution you’ll gain full visibility and transparency. This means you can track comments, actions and activity in each step of the process, and access a complete audit trail at any time.

Find out how AP teams can implement more spend control and visibility in our blog.

Time savings across the organisation

With payment automation there’s no need for manual uploading of files to bank portals. No more excel lists of transactions. And never again payment approvals by signing paper documents. Every step is managed through a digital, streamlined process so that everyone, from AP and Finance to approvers and Treasury, save valuable time.

Read how your organisation can benefits from time savings in our blog Ten surprising benefits when businesses manage payments in one place.

Fewer errors

Removing manual steps and touchpoints naturally reduces the risk of errors. Invoice data automatically flows through the accounts payable process and seamlessly integrates with the ERP to create payment files. Often without any human touch whatsoever. And when a pair of eyes is needed, information is presented in a structured way to ensure a quick and easy review.

Error reduction is a key benefit outlined in our blog What do finance teams in resilient organizations do?

Lower costs

Time is money so there’s an obvious cost reduction when accelerating and automating the payment process. But you may also be able to save large amounts on things like cross-border bank wire fees and late payment charges from your suppliers by implementing payment automation.

Download our brochures to see what Medius Pay can do

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Download our brochures to see what Medius Pay can do

More resources we think you'll like

More resources we think you'll like

Supplier Payment Solutions FAQs

What are supplier payment solutions?

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.

How do supplier payments solutions work?

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.

What are the main functions of supplier payments solutions?

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.

Why use supplier payments software?

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.

How do you automate supplier payments processes?

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.