Budgetly expands digital payment offerings with latest innovation: Bill Payments

Budgetly Bill Payments reimagines the bill paying experience with effortless, time-saving bill management, fraud protection, and regulatory compliance controls. Automated accounts payable (AP) capabilities seamlessly integrated with Budgetly Bills Payment functionalities equips finance teams and people with the necessary tools to efficiently manage multi-channel spending through an all-in-one payment platform.

Budgetly continues to demonstrate its commitment to providing comprehensive, user-friendly spend management tools for its customers. By automating bill capture, approvals, and payments from a single platform, Budgetly Bills Payment significantly reduces business expense processing costs and eliminates the stress of overspending.

With a comprehensive array of payment methods including physical and virtual cards, bank transfers, and PayID, Budgetly facilitates expense management with unparalleled efficiency. Additionally, Budgetly's integration with budgets and pre-approved spend controls empowers organisations to enforce spending policies and track budgeted versus actual expenditures in real time.

"The integration of Budgetly Bill Payments with its virtual and physical cards will empower Australian businesses to seamlessly manage all non-payroll expenditures. Particularly significant will be the reduction in approval process and reimbursement bottlenecks, ensuring enhanced business efficiency and control, especially in managing international payments with low FX rates, resulting in significant time and cost reductions."

-- Simon Lenoir, CEO, Budgetly

In addition to streamlining bill payments, Budgetly will also address crucial aspects of fraud detection and employee experience. By identifying changes to suppliers' previous payments, Budgetly will assist in identifying and mitigating fraudulent bills efficiently, safeguarding the organisation's finances. Furthermore, the platform will enhance the employee experience by facilitating swift and compliant purchases, simplifying expense tracking through a centralised platform.

Budgetly Bill Payments automatically extracts bill details, identifies suspicious bills for potential fraud, accurately extracts GST, and automatically categorises bill details. Budgetly provides a comprehensive spend management platform that encompasses bill payments with both physical and virtual cards, all in one centralised platform.

Budgetly's customers will benefit from the advantages of multi-currency and multi-capability accounts facilitated by top-tier financial payment methods. This empowers them to settle bills using currencies and payment methods that match their suppliers' preferences, thereby helping maintain stronger relationships, enhancing cost efficiency, and ensuring convenience.

"Budgetly Bill Payments will revolutionise the way businesses manage their spend. Our goal is to provide our customers with a comprehensive and user-friendly platform that streamlines their bill payment processes while ensuring cost efficiency, compliance, and enhanced financial control." 

-- Simon Lenoir, CEO, Budgetly

Key Features and Benefits:

Budgetly Bill Payments offers unique benefits to its customers:

• Save 90% on the cost per bill: Achieve significant efficiency and time savings with automated bill capture and approvals, utilising Budgetly's built-in spend controls.
• Prevent fraud, paying the wrong accounts, and duplicate payments: Identify and flag new suppliers and payment details for review, helping to prevent fraudulent transactions and safeguarding your organisation's money.
• Elevate the employee experience: Empower employees to swiftly and seamlessly pay bills to their suppliers without putting them or your business out of pocket.
• Maintain supplier relationships and continuity: Ensure timely payments to build trust and cooperation with your suppliers, minimising supply disruptions by consistently meeting payment schedules.
• ...and more!

With over 1,100 companies across Australia, Budgetly expects the innovative feature, Bill Payments, to attract and service more businesses as the efficiency gains from this tool becomes apparent.

Budgetly Bill Payments is available to Budgetly customers from 14th August, 2024.

Find out more about the Budgetly Bill Payments: Click here

See how Budgetly can work for your business, schedule a demo with us today, or watch a 10-minute recorded demo.