Verto, a leading global B2B payments platform, today announced the launch of a new accounts payable solution designed to significantly reduce the time, cost, and complexity of managing international business payments. Integrated into the Verto Accounts product, the feature directly addresses the inefficiencies and risks inherent in manual invoice processing, enabling finance teams to streamline operations and enhance financial controls.
Businesses with high invoice volumes and international operations, particularly those operating across Africa and other global markets, stand to gain the most from this solution. It tackles common pain points such as tedious data entry, the complexity of multi-currency payments, and the high risk of human error that can lead to costly reconciliation issues. By automating these processes, Verto’s new feature empowers businesses to gain greater visibility, stronger controls, and seamless payee management at scale.
Speaking about the solution, Tomasz Bilakiewicz, Product Director at Verto, said: “Beyond the challenge of navigating the foreign exchange landscape and managing multi-currency payments, which has long been a significant hurdle, finance teams are often bogged down by repetitive, error-prone tasks that should be automated. Our new solution addresses both hurdles, giving businesses the speed and accuracy they need to stay on top of payments. This frees up time and mental energy, allowing finance teams to focus on more strategic initiatives such as performance analysis, improved forecasting, and driving better business decisions.”
This launch comes as businesses increasingly recognise the value of automation. A recent report found that organisations, by automating their accounts payable processes, save an average of 9.9 hours per week, amounting to over 500 hours annually. Verto’s solution extends this efficiency to the complex world of cross-border payments, allowing Nigerian businesses to manage, pay, and track all invoices in one centralised platform while benefiting from competitive foreign exchange rates.
Key features of the new solution include:
Automated data extraction and pre-filled payment forms to cut down on manual entry and reduce errors
Direct payments from uploaded invoices to speed up the process
Support for 49 currencies, making cross-border payments simple
Intelligent beneficiary matching and attached invoices for better tracking and visibility
The new accounts payable solution is available globally to all Verto customers and is available in Verto Accounts – integrating seamlessly with Verto’s Exchange Now features.
//Staff writer