Payhawk today announced the launch of its new “Enterprise Plan,” alongside new product features and a partnership with Microsoft - a provider of leading Enterprise Resource Planning (ERP) software.
Payhawk today announced the launch of its new "Enterprise Plan", alongside new product features and a partnership with Microsoft - a provider of leading Enterprise Resource Planning (ERP) software.
"We are glad to have Payhawk as a partner on the Microsoft AppSource," said Stavrinos Kyriakou, Microsoft ISV Development Manager for Southeast Europe. "Their solution is a valuable addition to our Business Central portfolio and spend management solutions, and we believe it will be a useful resource for businesses looking to modernise their spend management procedures."
Microsoft Dynamics 365 Business Central, 365 Finance, and Oracle Netsuite are some of the most popular ERPs for businesses with over 200 employees. According to a dataset from 6sense, Microsoft Dynamics has a 27% market share in the ERP category globally.
Alongside the ERP, businesses traditionally use several solutions to manage different types of business spend, such as corporate cards, payroll, supplier invoices, and employee expenses. Multinational businesses are likely to have different providers in each country, quickly building a web of disconnected systems. All spend data from these systems, together with receipts and other documentation, must then be transferred to the ERP for accurate and timely bookkeeping and financial planning.
Many of these legacy systems lack automated data capture and native integrations with ERPs. This is solved with intensive manual work, which wastes employee time and prevents real-time reporting. Finance teams struggle to focus on partnering with business leaders.
With Payhawk's new Enterprise Plan, Finance teams using Microsoft Dynamics 365 Business Central, 365 Finance, and Oracle Netsuite ERPs now have a genuine alternative to these legacy systems. They can provide an excellent employee expense experience coupled with automated expense processing and seamless two-way communication with their ERP. They can save up to four days a month to instead be spent on more strategic projects.
"We have five entities, with approx 300-500 expenses a month in the parent company. It used to take me one whole day per entity to review, import, and export and put the expenses in the correct format. With the direct Payhawk integration to NetSuite, I spend just an hour a day on this. It's an enormous help." Eduardo Felipez, Management Accountant at Heroes.
Also offered in the new Enterprise Plan is multi-entity management functionality that helps better manage spend and liquidity across different entities. Finance teams can apply group-level expense settings and workflows, driving global standardisation and efficiency in spend management processes. A group dashboard shows real-time spend, upcoming expenses, and available funds to cover. Finance teams get spend oversight per entity and team and visibility of expense processing across the global organisation resulting in a faster month and year-end close.
"The Payhawk Group Dashboard lets us monitor group-wide expenses even faster and with more agility. We can now manage liquidity planning more efficiently and accurately through the dashboard and take better control by segmenting data by subsidiaries, teams, and cost types." Serkan Yüksel, Lead Digital Transformation Finance at Hypoport SE.
Finally, Payhawk is launching a new AI-powered camera in the mobile app which automatically identifies and crops receipts. This improves the accuracy of expense data and results in easier expense processing, which is particularly useful for global businesses with high expense and invoice volumes.
Hristo Borisov, Payhawk CEO, and Co-founder says of the recent Payhawk product launches: " With the launch of our new Enterprise Plan, we make available a range of new features that provide larger global businesses with a genuine alternative to traditional bank cards and expense management systems. Critical to this is offering trusted API integrations with the most popular Enterprise ERPs to deliver the maximum in bookkeeping automation. We've also built tools to help finance leaders understand and manage spending at the group level, including new dashboards and group expense and approval settings, for easy ongoing management of users at scale."
For a limited time, Payhawk is providing a special offer of 20% off* the new Enterprise plan; this discount applies to those who sign up before July 31st. Existing customers can seize this opportunity by upgrading to the Enterprise plan before the same deadline.
Book a demo to learn more about this limited-time offer and the benefits of our newly released features.
The Payhawk Editorial Team consists seasoned finance professionals boasting years of experience in spend management, digital transformation, and the finance profession. We're dedicated to delivering insightful content to empower your financial journey.