Cambridge Global Payments and Beanworks Pave the Way for Cross Border Payments and AP Automation

Small and medium-sized companies can achieve cost savings through an integrated AP system

TORONTO--(BUSINESS WIRE)--Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, and Beanworks Solutions, a leader in cloud-based accounts payable automation, announce that they are continuing their partnership to combine services and provide customers with a complete AP automation technology solution that can simplify the accounts payable process for companies conducting business internationally, from purchase to payment. Through this AP automation solution, companies will have the ability to process their international vendor invoices, through an enhanced payments platform.

This partnership delivers high visibility across the accounting process from invoice validation through to payment confirmation, helping customers to save time and money. Through the combination of Beanworks’ AP solution and Cambridge’s payments technology, users will have the ability to reconcile purchase orders and invoices side-by-side before proceeding directly to payment in over 145 currencies. The partnership between Cambridge and Beanworks means companies can initiate wire transfers and other payments through the Beanworks platform. Once approved, payments can be released directly from the Beanworks platform that is integrated into Cambridge’s real-time foreign exchange rates, creating a one-stop shop for a customer’s accounts payable and vendor payment needs.

“We look forward to continuing our partnership with Beanworks to provide a combined AP automation and global payments solution that can help minimize administrative overhead for users of the platform,” said Mark Frey, President, Cambridge Global Payments. “At Cambridge, we strive to create flexible integrations for our cross-border partner payment solutions, so that we can collectively bring innovative and value-added payment services to customers.”

“The Beanworks team is thrilled to partner with Cambridge to bring international wire transfers to our customers, with real-time foreign exchange rates. Through this partnership, we offer organizations even greater control and visibility of their global AP processes from purchase to payment,” said Catherine Dahl, CEO, Beanworks.

About Cambridge Global Payments

Cambridge Global Payments, a FLEETCOR company, is a leading provider of integrated cross-border payment services and currency risk management solutions. As a trusted partner for more than 25 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Our award-winning capabilities and industry-leading technologies simplify the way businesses connect with the global marketplace. As one of the largest bank-independent providers globally, we are flexible and responsive, with offices and applicable licensing and regulatory approvals across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.

About Beanworks

Beanworks automates accounting workflow to empower teams to succeed. From purchase to payment, Beanworks integrates with your software to make accounts payable (AP) simple and delightful. Thousands of users manage AP at lower processing costs while remaining focused on financial management and reporting. For more information on how we can help you save time and focus on what matters most to you, please visit our website, www.beanworks.com.