The expansion into theAustralian and NewZealand markets will allow accounting partners to provide clients with a comprehensive solution that streamlines financial controls and approvals for international payments and processing through the combination of ApprovalMax and Airwallex’s advanced financial technology.
Airwallex batch payments in ApprovalMax allows users to create a batch of payments, submit them for automated approval processing, and use Airwallex as the payment method, all from within ApprovalMax.
This offers a seamless solution for businesses seeking greater control over their finances and the end-to-end accounts payable cycle by streamlining the entire process from preparation, approval, and payment. The integration also gives accounting firms the ability to manage client payments without requiring access to their bank account, and having to handle manual file uploads, thereby saving time, reducing errors, all while tightening financial control points.
“When batch payment approvals are managed by ApprovalMax, it transforms the way finance teams collect duly authorised invoices for batch payments while ensuring a controlled and seamless integrated data flow,” said Helmut Heptner, Co-Founder and Director of Operations, ApprovalMax.
“The vision behind our collaboration is for ApprovalMax and Airwallex to work together in order to take away the burden of manual approvals and payments. Businesses are required to implement robust financial controls in a world of connected digital processes where cyber security threats are increasing. Now we are helping Australian and New Zealand businesses get to a stage where they can approve and make faster payment runs. This leads to better business efficiency and happier suppliers in the long run.”
“It also allows us to take our partners’ service offering to the next level, by significantly improving their clients’ experience while not taking on any additional risks where payments are concerned.”
“As businesses expand globally they need an end-to-end financial solution to facilitate fast, affordable payments while creating a frictionless customer experience,” said Luke Latham, General Manager for Australia and New Zealand at Airwallex.
“Together ApprovalMax and Airwallex are making this a reality. This integration will not only simplify batch payments but also help businesses save on FX when paying employees and suppliers in their preferred currency. We’re excited to be partnering with ApprovalMax to further support businesses as they look to scale globally.”
About the integration:
If your organisation manages significant payment volumes, especially those involving international transactions in foreign currencies, then using Airwallex for payments embedded within ApprovalMax is an excellent option. This integration is particularly beneficial for businesses that are already using Airwallex, as well as for partners who provide or intend to offer treasury services. To take advantage of this integration, you must have active accounts with both ApprovalMax and Airwallex.
Together ApprovalMax and Airwallex:
- Eliminates any breaks in the chain between payments preparation and completion
- Enables an improved cash flow management process by ensuring payments are authorised by the correct stakeholders
- Provides an easy and affordable way to make international payments to over 150 countries in over 40 currencies
- Organises payment reconciliation with transparency
- Automates audit trail creation
- Provides a way for accountants to make payments without needing access to client bank accounts
- Enables seamless synchronisation of data to Xero, including payment information and bank feeds