Bring-your-own bank or connect to JAGGAER Pay’s Open Connect Verified Partner TransferMate
RESEARCH TRIANGLE, NC, July 20, 2023 – JAGGAER, the global leader in Autonomous Commerce, today announces new enhancements to its integrated payments solution. JAGGAER Pay Open Connect enables end-to-end global accounts payable (AP) automation, providing users with the ability to onboard suppliers, process invoices, and originate all their global payments in a single, seamlessly integrated solution.
“Automated payments are one of the cornerstones of JAGGAER’s Autonomous Commerce strategy,” said Dawn Andre, JAGGAER’s Chief Product Officer. “There is no one-size-fits-all solution to meet 100% of payment needs, so JAGGAER’s extensible platform enables a bring-your-own approach to complement our natively integrated partner apps. JAGGAER Pay Open Connect is not an add-on to your existing payments stack but rather replaces and automates the complete solution.”
Legacy AP payment processes are manual and inefficient. AP teams spend time bouncing between multiple systems and completing jobs using ERP software designed to manage the internal organization, rather than elegantly interfacing with external networks of suppliers, service providers, and financial institutions. JAGGAER Pay enables those teams to automatically create, approve, batch, and process payments based on approved invoices. Alongside JAGGAER’s selection of natively integrated, best-in-class payment partner apps, users can now leverage end-to-end global AP automation plugged into any global bank or payments processor, such as JAGGAER Pay’s longstanding Open Connect verified partner, TransferMate. TransferMate enables JAGGAER customers to simplify payments within JAGGAER while expanding their payments reach to 140+ currencies and 200+ countries and territories.
“JAGGAER and TransferMate’s mutual customers benefit greatly from the flexibility of Open Connect,” said TransferMate CEO, Sinead Fitzmaurice. “The paired solutions work out of the box, resulting in significant efficiency gains and a simpler, smarter and more secure way for businesses to send domestic and international payments.”
As well as settling international payments faster, easier and at lower cost, TransferMate’s embedded security detections protect against fraud and money-laundering activities, with predictive risk assessments and real-time response mechanisms.
JAGGAER Pay Open Connect is a natural extension to JAGGAER’s comprehensive suite of procure-to-pay solutions. “In fact, with JAGGAER Pay we now offer seamlessly integrated solutions all the way from source-to-settle,” Andre concluded.
About JAGGAER
JAGGAER is leading the Autonomous Commerce revolution, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners. Over $500 billion worth of goods flows frictionlessly through our Enterprise Commerce Network every year. Leveraging AI and machine learning, our intelligent procurement solutions provide enterprise buyers and suppliers smart-match recommendations that align buyer needs with supplier capabilities. Our solutions autonomously execute many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce. We are Networked, Intelligent, Comprehensive and Extensible. We are over 1,100 employees strong, all focused on customer success.
For further information, please visit www.JAGGAER.com.
About TransferMate
TransferMate – a subsidiary of CluneTech — is the world’s leading provider of B2B payments infrastructure as a service, enabling companies to send and receive cross-border payments faster, easier and at lower cost. TransferMate, under the leadership of Clune and CEO Sinead Fitzmaurice, has built one of the largest portfolios of payments licenses worldwide, including 51 US states and territories, to support trading in more than 201 countries and 141 currencies. Leading banks, fintechs and software providers partner with TransferMate to offer an enhanced user experience for their business customers. The company has created bespoke integrations for banks like ING and AIB, who are also investors in the company. The TransferMate API solution allows partners to digitalize the payments flow within their software, enabling all businesses to achieve significant time and financial savings.
For further information, please visit www.TransferMate.com.