Medius, a leading provider of autonomous AP solutions, and Bottomline, a global leader in business payments, announced a strategic partnership that adds Bottomline’s business payments network, Paymode, to the Medius solution.
The Medius platform is a suite of spend management applications that help modernize and accelerate invoicing and payments. It relies on artificial intelligence (AI) for digital transformation of spend management, helping to modernize over 4,000 customers globally.
Paymode is a leading business payments network that allows businesses to make and receive payments using secure digital methods. This network is a highly complementary addition to Medius’ virtual card functionality, enabling its customers to transact with other members on the network and take advantage of Bottomline’s fast and secure payment processing capabilities. Fully embedded to create a seamless solution, Paymode requires no new integration for Medius customers.
Also Read: Finastra Partners with Prelim to Simplify Deposit Account Opening
With 550,000+ vendors accepting digital payments on the network, Medius customers can meet their automation goals. Paymode also offers multiple payment types with rebates, resulting in customers improving their cashflow.
Paymode benefits suppliers as they receive enhanced data and reconciliation information, as well as rich reporting, and can lower their cost of payment acceptance and reduce days sales outstanding. Providing this important data and reconciliation feature helps strengthen relationships between buyers and their suppliers.
“Having a well-recognized AP solution like Medius join the Paymode network not only validates our strategy and expands our ecosystem, but it also brings tremendous value to Medius, its customers, and our existing vendor base,” said Gunita Bindra, VP of Partner Strategy and Sales for Paymode at Bottomline. “This partnership is a genuine win-win-win.”
“By providing access to such a sizeable number of businesses on Paymode’s network, we enhance the overall value proposition of Medius,” said Craig Keller VP, Payment Strategy, Medius. “Medius Pay will now be able to take more responsibility for our customer’s supplier community, automate and digitize more of their spend file and deliver an improved cash flow across more of their supplier spend”.
SOURCE: PRNewswire