PayEm Launches One Click Reconciliation

PayEm, the global spend and procurement platform for high-growth and multinational organizations today announces the launch of a new feature, One Click Reconciliation.

The new feature allows finance teams to edit and sync multiple transactions in a single click. Up until now, finance teams had to manually insert and sync each transaction individually, taking several hours every month. PayEm’s new feature is a game-changer for finance teams and will allow them to save time on repetitive tasks: One Click Reconciliation allows users to sync bill payments as well as journal entries. The new feature also skips the sync, allowing users to select payments as reconciled.

The feature grants the option to assign multiple payments to one bill and reconcile it to ERP. Now, with the new feature, finance teams can shorten the reconciliation process that used to take a few days to one click. This feature has been estimated by companies who used it in the beta stage to save up to 2,000 hours a year and tens of thousands of dollars.

PayEm’s platform creates the context for every transaction up front. Whether from a PO or vendor card transaction, every detail of every expense is automatically recorded and matched in PayEm’s platform and then synced to the company’s ERP.

PayEm’s platform is centralized, every aspect of non-payroll spend can be viewed in real-time, to confirm statement amounts, review expenses, and manage corporate spend. This technology led to One Click Reconciliation.

PayEm’s platform automates finance processes from request to reconciliation, giving individuals and teams within global organizations the ability to manage non-payroll spend as needed while safeguarding budget, automating manual accounting tasks, and allowing finance teams to remain agile and in control.

PayEm has developed a platform that allows companies to integrate their financial systems and ERP with an advanced end-to-end customized request-to-approval workflow and payment solution. Specifically designed for global SMEs and enterprises, the platform offers control and transparency by streamlining reimbursement, procurement, AP automation, and credit card processes into corporate spending.