How Payment Automation Saved a Global Insurance Company Time and Money

A SAP Concur blog post contributed by TransferMate Global Payments presents its PaymentsHub app. Chicago-based property and casualty insurer HDI Global had its accounts payable team manually entering wire transfer and ACH requests, with little payment transparency and frequent delays. After adopting PaymentsHub integrated with SAP Invoice, HDI improved payment processing time by one week within a month and saved money through lower processing costs. The post says a company making 200 international payments per month could save an average of seven minutes of administration per transaction, or 40 admin days per year, and at $60 per transaction in global bank wire fees, annual savings could re…