Unifying Worldwide Spend, Mesh Goes Global

Finance teams face myriad challenges when trying to do business in a globalized economy. Today, Mesh is taking a major step to support global businesses with a major expansion of the markets served by the Mesh platform.

Mesh Global provides businesses with a unified platform for all of their global spend, while allowing them to manage each local entity with fine level controls customized for local regulations and compliance. Global businesses will now be able to hold balances and fund payments and reimbursements in local currencies, as well as use their local entities with the Mesh platform.

All of these advancements will help global finance teams significantly boost their productivity, gaining greater control and visibility into their spend. Alongside powerful automation tools, global compliance & policy enforcement, and cost and FX savings, Mesh Global will help businesses save time and money, and gain greater insight into their spending – allowing them to operate more efficiently worldwide.

The Challenge for Finance Teams

Currently, businesses with global operations and multiple entities around the world need to duplicate their operations and those of their finance team in multiple countries. They need to hold funds in local banks in local currencies to fund operations in those countries, whether its managing company spend or reimbursing employees.

This requires significant time and effort for the finance team, with repetitive tasks and time spent reporting and tracking expenses in multiple currencies. The finance team also needs to invest considerable resources maintaining local compliance, managing tax issues, and observing disparate spending policies for different entities.

Mesh helps finance teams solve these problems in a number of ways.

Unified Global Spending

Mesh brings incredible levels of control to global finance teams. Companies are able to see all of their global spending in one global dashboard, and also manage spending with full visibility and control over each global entity. This provides insights into spending and tight controls to keep expenses in check.

This is a profound change for finance teams as it brings together disparate global operations into one platform, helping finance teams gain real insight and complete picture of global operations.

Local Currencies

Now, using Mesh, your global finance team can hold balances in the currencies it needs to fund global operations and pay for and settle expenses in those currencies, helping save considerable costs.

Businesses have always been able to spend anywhere in the world using Mesh, but now finance teams have the option to hold balances in US Dollars, British Pounds, Euros, and other currencies, and issue payment cards and fund reimbursements in those currencies.

This means that finance teams can streamline operations, boost productivity, and further optimize their spend. It helps remove the volatility of currency conversions, further accelerating and simplifying the monthly close process.

Boosting Productivity for Global Finance Teams

Mesh is laser focussed on helping finance professionals become more productive, eliminating repetitive tasks through automation and helping the team focus on core, strategic tasks. Now, Mesh can help finance teams use automation to streamline managing multi-currency spend.

Mesh enables global finance teams to collect and match receipts automatically in multiple currencies. Finance managers can also create advanced workflows to enforce company policies automatically across entities.

Automatic Global Compliance

Operating in different locations with different entities can present numerous compliance challenges as each country will have its own set of regulations. Mesh allows teams to build in spending policies or create entity specific workflows that help automate compliance. This can help shave off hours of work for finance teams.

Mesh also helps companies manage VAT and local taxation issues, as finance teams can control and review spending per each entity.

Local ERP Integrations

Managing multiple global entities requires investing time and resources to set up the company’s ERP for each entity individually. With Mesh, it’s easy to tailor the platform with integrations specifically targeted for each global entity, accelerating monthly close and other tasks.

The Right Solution for Each Payment, for Each Entity

Mesh brings a payment-focused approach to spend management, allowing companies to tailor the payment for its purpose – whether that’s a SaaS platform, travel expenses, or marketing spend.

Now, those fine level customizations can be tailored for specific entities in specific geographies, helping finance teams take even more control over spending.

A Unified Solution for Global Finance Teams

Global businesses require local spending solutions to help them operate efficiently around the world. Mesh is helping finance teams boost their global productivity and providing solutions to help them with fine level controls for each of their global entities coupled with the ability to hold balances in local currencies. All of this is tied together in one unified platform helping businesses gain a full picture of their spending around the world.

To find out more about Mesh and how it can help your finance team, sign up for a demo today.

• Get the latest blogs from Mesh by subscribing to our newsletter