Spend Management Fintech Payhawk Introduces Purchase Orders, Enabling Procure to Pay Process

Payhawk introduces a 3-way match Purchase Orders system, “enabling businesses to automate their procure-to-pay process to further increase the efficiency and control in business purchases.”

Payhawk, the global spend management platform, reveals that it has launched its new Purchase Orders system. The solution streamlines procurement operations “by integrating purchase requests, approvals, Purchase Order creation, three-way matching and the ability to pay in local or cross-border transfers in one seamless platform.”

In the past, procurement processes have often “involved tedious financial busywork, scattered documentation, and multiple tools.” These inefficiencies can “slow down business scaling and increase operational costs.”

Payhawk’s entry into the Procure-to-Pay market “addresses these challenges head-on. Building on its existing accounts payable solution, it introduces a Purchase Order system that allows for streamlined creation and approval of purchase requests, two- or three-way matching between invoices, Purchase Orders (POs), and Goods Received Notes (GRNs), and easy identification of discrepancies.”

This cohesive solution eliminates “the time spent on manual data entry and approvals, reduces errors, duplicate payments and unnecessary costs, while providing an overview on committed spend, reinforcing Payhawk’s commitment to optimizing business spend management.”

Payhawk’s ongoing growth and strategic updates — “including the recent implementation of its global payments solution, in partnership with Wise Platform — underscore the company’s commitment to providing comprehensive, integrated spend management solutions.”

Hristo Borisov, CEO and Co-Founder of Payhawk, says:

“Payhawk’s vision has always been to simplify and streamline our customers’ financial operations. With the introduction of our Procure-to-Pay solution, we’re further optimizing our customer’s experience of the Payhawk platform. This solution, coupled with our free local transfers and the most competitive FX rates for International Business Payments with Wise Platform, enhances our automated accounts payable offerings. It’s about giving businesses the tools they need to manage their spend more effectively, reducing errors and saving valuable time. It’s more than just a new feature, but a testament to our commitment to driving the future of spend management.”

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