Supplier Payment Runs

As much as technology has improved, there is one industry that seems rooted in the 1950s. Our banks. Even though London has exploded as a global Fintech capital, many of our banks still seem to run on steam and valves. Even though we are all used to paying our suppliers using our online banking software, and cheques are well and truly consigned to the past, the process can still be improved and eventually automated. Having partnered with Currencies Direct Zahara can now facilitate payments from your existing bank accounts.

  • Select invoices for payment
  • Pay using your existing bank
  • Payment run approval process
  • Simple yet faster
  • Payments without the frustration
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automated invoice processing

Features of our Payment Run Software

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Payments from your existing bank

With Zahara's partnering with Currencies Direct, payments can be made from within our invoice list view. You can clearly see the approved invoices and their due dates. These can be selected for payment. We hand the supplier and invoice information over to Currencies Direct and from here you can login, check the payment run and then release the payment. The key thing with Currencies Direct is that is uses Open Banking so therefore works with your existing (UK only) banks.

International Payments

The next step in our payments journey will be international payments. This is still cumbersome and expensive using existing banks. We have identified major players in the market who can provide the service, technology and affordable plans that all Zahara customers will require. We plan on releasing this by summer 2023. Using the same principle as domestic payments, invoices can be selected for payment and then handed over seamlessly to the provider for international payments to be authorised ans released. Less fuss, less costs, less hassle.

 
invoice authorisation workflow
vendor management approvals
 

Purchase to Pay without the Pain

Purchase to Pay is the terms used to add automation and control to the procurement cycle inside organisations. Every business needs to purchase goods and services. Zahara helps control the buying process with purchase requisition approvals and then automates the matching of supplier invoices and then facilitates the payments. This means suppliers can be paid on-time with less friction and effort.

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Payment Run FAQs

Who do you make payments with?

Our first integration was with Currencies Direct, but we have a fully integrated solution with a top UK multi-currency provider releasing Q1 2024.

Does Zahara have a payment status for each invoice?

Yes there is a payment status field you can display and manually change..

Do you sync payment status's with finance systems?

Not currently, but this is a key feature of our next payments solution for Q1 2024.

What about international payments?

Our next integration for payments will have international payments and will be usable globally./p>

How do you charge for payments?

We don't charge but our partners do in some way. Some will charge a subscription and others will offer a free service provided you make international payments.

How do I reconcile a payment?

This is a job for your finance system.

Do you do payment run approvals?

Yes. The next release of payments will have a delightful payment run approval function.

Do payments need authorising?

Yes. We have a range of security steps including multi-factor authentication and securing payments to only authorised personnel.

Do you use a digital wallet

Yes. You will have multiple wallets for each currency and can transfer money between wallets. You will upload money from your domestic bank accounts to your core wallet and payments will be made from here.

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Discover more how Zahara can help you

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Approval Workflows
The fuel that runs Zahara. Our amazing multi-step approval workflows that are easy to setup and fast to deploy.
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Invoice Processing
Just email you invoices into your own dedicated Zahara inbox and see our amazing invoice accuracy as line-item read invoices are ready for processing within 30 seconds
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Purchase Orders
Control costs with purchase requisitions and purchase orders so that every item purchased is approved before you are committed.
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Integrations
Whether you use one of our connected systems or want to get data in or out of Zahara using flat files, we have a tool or integration for most systems.

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