SAN FRANCISCO - April 22, 2021 – Airbase, the most comprehensive spend management platform for small to midsize companies, today announced it now supports international bill payments to over 200 countries and 145 currencies.
As businesses grow internationally, so too does their need to make payments to vendors around the world. Airbase is the first and only spend management solution in its class to offer full international accounts payable functionality to its users. The Bill Payments product within the Airbase spend management platform offers the option to make payments to foreign vendors in either U.S. dollars or local currency — all from within the same system and with two simple clicks. The ease, flexibility, and low cost compared to the alternatives, make Airbase the best available solution for handling international payments.
International payment support is typically only available to companies via their banks or dedicated bill payments products like Bill.com. Airbase is the only spend management platform in the market to offer international payment support, along with every other payment method, like corporate cards, checks, ACH, USD payments to non-U.S. entities, and foreign currency-denominated wires, to deliver on its promise of a single command and control center for all payments.
International payments come with the many bill payment benefits available to Airbase users, such as approval workflows, auto-categorization, scheduling of payments, amortizations, and automatic syncing to the general ledger. Managing international payments typically involves several disparate systems, payment processors, and banks for purchasing foreign currency. This causes confusion plus extra work and expense for accounting and finance teams, as well as a loss of real-time visibility into consolidated spend.
This latest addition to the Bill Payments product within the Airbase spend management platform eliminates these issues and also provides visibility, control, a full audit trail, and real-time reporting for all non-payroll spend.
“We believe all AP should be handled from one place, no matter the payment vehicle,” said Thejo Kote, Founder and CEO at Airbase. “We’ve got this ever-growing customer base and we’re constantly asking them what they need so they can consolidate their AP. We’re delighted to announce our international payments footprint to support our customers who wish to go global.
“For a vast majority, this is the missing piece that would allow them to replace Bill.com with Airbase and consolidate all their non-payroll spend in one place. We look forward to bringing their invoice payments into Airbase, along with their corporate cards and employee reimbursements.”
Airbase also hosts “Off the Ledger”, a Slack community for over 1500 finance professionals that’s a private space for networking, advice and members-only events. Finance professionals only can apply for membership at: https://www.airbase.com/off-the-ledger
