Introducing Mesh ProcurePay

For enterprise businesses, effective management of the procurement process doesn’t stop when a purchase order is issued. A well-managed procurement payment process is also extremely important. Not only does it simplify and streamline inter-team collaboration, it also eliminates costly errors, ensures compliance, simplifies end-of-month reconciliation, and provides a unified view across the entire spend.

Yet, many businesses still struggle with the procurement payment process. That’s why Mesh is rolling out a better way to manage procurement payments: Mesh ProcurePay.

The better way to (procure-to) pay

Mesh ProcurePay connects to any ERP or procurement system, creating a seamless, automated workflow from PO to payment.

But it’s not just about automating workflows. ProcurePay is the only procurement payment solution that lets buyers make in-person payments and ensures spend policy and PO compliance across any purchase order, including blanket POs (sometimes known as ‘general POs’).

Once connected to the ERP or procurement system, any approved purchase order will trigger Mesh to automatically create a virtual card. Cards are pre-coded with all the necessary data from the PO, and embedded spend policies. ProcurePay even allows for additional, customizable approvals to ensure everyone is on the same page for large purchases.

Mesh ProcurePay incorporates procurement payments into one centralized payment platform, dramatically improving payment flexibility and business outcomes for both procurement and finance teams.

System-agnostic

The most flexible procurement payment solution available, ProcurePay seamlessly connects to any ERP or procurement system. That gives finance and procurement teams the flexibility to work with the tools, platforms and processes that are best for their business today, and the freedom to change them tomorrow.

Automatic Card Creation & Assignment

Once a purchase order is approved, a virtual card is automatically assigned to the relevant employee – the requester or buyer – eliminating the need to manually update them or take other steps to involve them in the process.

In-Person Payments

In addition to online payments, with ProcurePay buyers can easily link their virtual card to a physical Mesh Plug & Pay ™ card so they can make purchases at brick & mortar stores while still complying with all required spend policies.

Spending Policy Enforcement

Controls are automatically embedded into each payment card to ensure that they are in-line with company spending policies. This makes it easy for finance teams to maintain control over spending while accelerating purchases.

Pre-Coded Cards

Payment cards are pre-coded with the relevant PO number and other important details to accelerate and simplify month-end reconciliation. This removes considerable amounts of manual labor, providing significant time savings.

Local Currency Payments

With support for multi-currency funding, ProcurePay allows companies to avoid expensive FX fees. Plus, Mesh cards can be used in over 140 countries and more than 200 currencies making it easy to manage procurement payments around the world.

Unified View Across All Spend

Unifying procurement spend with other spend categories (like T&E), gives finance and procurement managers full control and complete visibility across their spend.

Let Your Payments Pay You

Aggregating the whole spend allows managers to negotiate the best volume incentives, saving their companies money.

Simplified Reporting & Reconciliation

Mesh uses OCR to match a receipt to the right transaction, which is automatically pre-coded with the right PO number for easy end-of-month reconciliation.

Imagine having the flexibility to work with the best tools, platforms, and processes for your business today, while also having the freedom to switch them up tomorrow. Delivering this level of adaptability, crucial for staying ahead in a constantly evolving business landscape and controlling cash flow, is the driving force behind the launch of ProcurePay and our relentless focus on product capabilities here at Mesh.

To find out more about ProcurePay, sign up for a demo and see how Mesh Payments can streamline your procurement process.

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