Serrala Unveils Automated Embedded B2B Payments Solution
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Key Takeaways
⇨ Financial automation leader Serrala recently announced a new partnership with Monex USA.
⇨ The companies will jointly provide the first fully automated SAP embedded B2B payments solution.
⇨ Automating payment processing increases efficiency, reduces the opportunity for errors, and frees up finance teams to spend their time on other business-critical tasks.
Financial automation leader Serrala recently announced a new partnership with Monex USA that aims to simply B2B payments for their customers. The companies announced that they will jointly provide the first fully automated SAP embedded B2B payments solution.
“Through this strategic partnership, we will be able to offer a low lift automated payment process that leverages the integration of the digital and innovative solutions that both companies have developed to deliver value to their clients,” said Mike Valadakis, VP of Digital Markets and Partnerships with Monex USA.
Monex USA will provide its cross-border payments capabilities to Serrala’s suite of offerings. This broadens Serrala’s range of end-to-end finance and treasury automation solutions.
Meeting the Market
Payment processing solutions are a key strategic technological priority for many SAP organizations according to SAPinsider’s SAP S/4HANA Finance and Central Finance: State of the Market 2023 Research Report. The survey found that 33% of respondent organizations were currently using payment processing solutions. This makes it the most commonly-adopted solution noted in the research report.
Automated payment processing solutions, like those provided by Serrala and Monex USA, allow organizations to centralize payment processes in SAP S/4HANA for Finance. This allows these companies to align their finance and operations with new digital business models. By automating payment processing, manual processes are minimized. This not only increases efficiency but reduces the opportunity for errors and frees up finance teams to spend their time on other business-critical tasks.
As part of the collaboration, the SAP B2B payment solution features an “easy low-lift integration.” Simplifying integration aims to save customers time and money throughout the installation process.
Broadening Solutions
In an increasingly interconnected world, businesses must prioritize solutions that allow them to operate across borders. Serrala highlighted the need to bolster its network of global partners as a driving force behind its collaboration with Monex USA.
“Our partnership with Monex USA will help Finance and Treasury teams considerably improve their business performance, reduce FX risk, and expand on a fully digitized and intelligently automated payment solution,” said Joyce Carpenter, Serrala’s Partner & Alliance Manager for North America.
Monex USA brings nearly 40 years of experience in foreign exchange experience. Customers can leverage this experience to help navigate volatile currency markets. Serrala is a leading fintech organization that offers cloud-native solutions. By combining forces, the two organizations aim to provide users with automated and optimized solutions that save money and minimize risks while also offering real-time insights into their payment processes.
