It is reported that the global payments and FX risk management solutions provider moneycorp Americas has announced the launch of its nouveau cloud Application Programming Interface (API) enhancement for ERP systems and accounting software.
The software has been manufactured to allow for seamless integration into client accounting software and enterprise resource planning (ERP) systems, at no additional cost to the client. Through such integration, moneycorp is capable of offering prospective clients the ability to streamline their payments; instantly saving time whilst transforming payment workflows and scalability.
In the current environment of the financial sector, CFOs are heading the enterprise-wide digital agenda, with 77% leading efforts to improve operational efficiency through technological adoption, whilst a similar figure of 77% continues to explore how the utilisation of disruptive technologies could benefit their business operations. Yet currently, a mere 34% of finance-specific tasks are automated and many businesses continue to struggle to locate the right data.
“Through this API integration, financial executives can take their accounting from transactional to strategic by spending less time toggling between programs, and more time making financial decisions for their business,” comments Bob Dowd, Chief Executive Officer of moneycorp Americas.
Moneycorp’s pre-built integrations allow for the close tracking of all international payments through accounting software such as QuickBooks, NetSuite, Xero, and Dynamics GP. This will eliminate the need for manual keying entries, which will ultimately save hundreds of hours whilst reducing the chance for errors to occur.
This comes after James Lei, Senior Corporate Dealer at moneycorp Americas, encouraged Chinese-Canadian businesses to capitalise on the missed opportunities present in the foreign exchange market.
The interface is capable of instantly syncing data, tracking payments across multiple currencies, and editing beneficiary information.
Dowd added, “This solution is a significant milestone for moneycorp as it helps CFOs redefine their processes in the shifting digitalisation of finance. Automation will reduce costs, drive profits, and improve productivity.”