The integration helps organizations take advantage of automated payment reconciliation solutions to capture and group payments and automatically review payments with full oversight of the payment process. This builds on last year’s successful integration of Medius’ invoice processing solution with RISE with SAP S/4HANA® Cloud.
“The drastically increasing economic pressure is driving companies to look for innovative solutions to their administrative problems and is forcing them to think about automating manual processes within their finance departments. Processes that have been ignored for years.” said Magnus Jonasson, VP of Product Management at Medius. “Although many accounts payable departments are turning to automation to streamline invoice processing, major inefficiencies still exist in the payment process. By integrating Medius Pay with RISE with SAP S/4HANA Cloud, we can improve the invoice-to-pay process for our customers and reduce the risk of fraud and mitigate risk.”
Medius is an SAP Silver partner and a proud participant in the SAP PartnerEdge Build Program. Magnus adds: “This is a welcome step in our longstanding partnership with SAP. As Medius and SAP products continue to evolve, we will see further integrations of Medius solutions take place.”
A turnkey integration with RISE with SAP S/4HANA Cloud means an exchange of payment data between Medius and SAP, so that all data is in sync. With the modern technology platform to electronically register, digitize, process and execute payments, regardless of the format, companies have a complete overview of their entire payment process.
More efficient integration can help retain employees longer, improve supplier relationships, and consolidate administrative relationships. The solution also provides risk factor monitoring and anomaly recognition to reduce the risk of excessive costs and fraud. That risk was calculated at more than $280,000 per company last year, according to the Medius Financial Professional Census report for 2022.
The SAP Integration and Certification Center (SAP ICC) has certified that the integration software for Medius Pay integrates with RISE with SAP S/4HANA Cloud using standard integration technologies. RISE with SAP S/4HANA Cloud is an innovative, lightweight cloud platform designed specifically for successful cloud business operations.