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 vendors using our online banking software, and cheques are well and truly consigned to the past, the process can be still be improved and eventually automated. Having partnered with Comma Zahara can now facilitate payments from your existing bank accounts.
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 vendor invoices and then facilitates the payments. This means vendors can be paid on-time with less friction and effort.
With Zahara's partnering with Comma, 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 vendor and invoice information over to Comma and from here you can login, check the payment run and then release the payment. The key thing with Comma is that is uses Open Banking so therefore works with your existing (UK only) banks.
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.
Payments needs process and with Zahara, built-in for your convenience are FOUR key parts of the AP Automation life-cycle. The ability to have purchase requisition approvals leading to purchase orders and of course the ability to process vendor invoices quickly and easily without any keying in.
 |
Purchase OrdersControl costs with Purchase Orders. Buy whats approved. |
 |
ApprovalsMulti-step approval workflows mean all spend is authorised |
 |
PaymentsFaster approved vendor |
 |
Invoice ProcessingFaster invoice processing. No needles data entry. |
Arrange a 30-minute fast and friendly, end-to-end demonstration to see how
Zahara can help you save money and speed up existing invoice workflows
