Spend management and eProcurement software company Medius has partnered with cash and treasury management company Nomentia, according to a Tuesday (March 1) press release.
Nomentia offers integrated banking solutions for businesses through Medius Pay’s secure gateway for improved payments visibility and control and integrated payments around the world through integrations with more than 10,800 banks globally, through host-to-host, SWIFT and local connections.
“As with our AP automation and spend management solutions, we want Medius Pay to make our customers’ lives easier, creating a single secure, audited channel that can automate all their payments to suppliers both locally and around the world,” Daniel Ball, SVP of Innovation at Medius, said in the announcement.
“Bank fees, foreign-exchange fees and cumbersome processes are just a few of the pain points businesses have to deal with when processing payments in what can be a costly and time-consuming business function,” he said. “With Medius Pay’s rapid deployment and native Nomentia integration, our customers can realize all these benefits quickly with an accelerated time to value.”
The Nomentia partnership allows Medius’ Nordic customers to react quickly to in-market developments, such as the P27 initiative, which aims to establish a single pan-Nordic payment infrastructure for the 27 million people in the region.
“The partnership with Medius unites AP automation and payments with our extensive bank connectivity, giving more businesses the tools they need to control and optimize all aspects of spend and payments,” Nomentia CEO Jukka Sallinen said in the announcement.
“I look forward to working with Medius, whose expertise in AP automation and spend complement our own in global cash and treasury management,” he said.
Related: Medius Rolls Out Supplier Payment Service
In April, Medius launched Medius Pay, an end-to-end payment automation offering. Medius Pay and its partner, Nvoicepay, aim to streamline, digitize and optimize the payment workflow, according to the company announcement.
Medius Pay, which is included in the Medius Spend Management product suite, is connected through Medius AP Automation. It offers one safe channel for vendor payments and assists in streamlining the end-to-end invoice-to-pay process, from vendor invoice to final settlement.
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