Payment automation refers to a system for processing payments through software technology with minimal or no manual interaction.
Payments Automation for International Businesses
International companies often rely on a global supply chain or have an extensive network of foreign suppliers. These practices may involve significant amounts of international payments, demanding a good deal of time and effort from the treasury department.
In these cases, some companies implement technological tools to automate payment processing, minimising the workload of the treasury team and reducing human error.