Anywhere, Any Currency, Any Time: Transforming International Payments for Businesses with TransferM…
SAP Concur and TransferMate discuss cross-border payment challenges, including manual processes, high fees, and compliance issues. TransferMate's automation solution reduces labor and improves efficiency, supporting 162 countries and 134 currencies. Transaction volumes rose over 800% in 2021.
Impact and considerations
Corporate finance teams can reduce labor costs, improve accuracy, and enhance compliance by automating cross-border payment processes.
Key points
- Cross-border payment processes are highly manual, time-consuming, and complex, with high bank fees.
- Automation can reduce the number of staff needed to process international payments from 10 to 2-4.
- TransferMate integrates invoice approval and payment approval processes, reducing double-checking.
- TransferMate supports payments in 162 countries and 134 currencies, providing a secure and cost-effective solution.
- TransferMate's transaction volumes rose over 800% in 2021.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 23 Aug 2022, 23:18
- Page published
- 14 Aug 2026, 08:30
- Last updated
- 23 Aug 2022, 23:18
- Original links
- SAP Concur Blog：Anywhere, Any Currency, Any Time: Transforming International Payments for Businesses with TransferMate (opens in a new tab)Primary source · en · Published 23 Aug 2022, 23:18