Introducing ApprovalMax Pay

Posted on June 10, 2024June 12, 2024 by Masha Komarova

Introducing ApprovalMax Pay (Beta), the smarter, faster, safer way to pay your bills

3 min read

We’re excited to announce a new way to pay bills straight from ApprovalMax! Using open banking technology, ApprovalMax Pay (Beta) lets you pay approved bills directly from the ApprovalMax platform and build stronger financial controls across your entire accounts payable process.

Why make payments from ApprovalMax though? Just think – it’s easier to travel an entire journey via one express train, than get out halfway and change. This way, you can use ApprovalMax for the entire AP process, from start to finish.

Currently, ApprovalMax Pay (Beta) is available for UK businesses using Xero. So, how can you get started? Once you join the beta, it only takes a few simple steps to securely sync your bank account to ApprovalMax via open banking and easily pay approved bills. Payments can only be made for bills that have been through the right approval workflow, so you know funds are going to the right place.

Why use ApprovalMax Pay?

Strengthen your financial controls

We want you to feel confident knowing you’re paying a bill that’s gone through the right approvals process and internal verification checks, every step of the way.

Protect your banking data

With ApprovalMax Pay, there’s no need to share sensitive bank data. Instead, employees create a request, pay approved bills in a few clicks, and have this added to the audit log for full visibility.

Avoid payment errors

There’s minimal risk of paying the wrong amount (or even person!) with ApprovalMax Pay since there’s no need to manually copy payment details and amounts.

ApprovalMax Pay allows businesses, accountants, and bookkeepers to securely manage payments from one platform. Extra security controls mean you can limit who makes payments or changes customer details, mapping these to an existing delegation of authority.

Accounts payable, all from ApprovalMax

Looking for a better way to manage accounts payable? Take control of your AP process from start to finish in one tool. With ApprovalMax Pay (Beta), it’s easy to build stronger financial controls across your entire accounts payable process and secure your workflow in less steps.

With ApprovalMax Pay, you can:

Use existing bank accounts. Pay bills securely from your bank accounts – there’s no need to create extra wallets or accounts.

Seamlessly reconcile payments. Reconcile all bills in one click and update your general ledger at the same time via ApprovalMax.
Maintain payment data integrity. Tracks changes to contact payment details and easily see when updates are made to better stay on top of payments.
Streamline batch payments. Create and approve multiple payments at once. Quickly put together batches of payments based on filters like amount due or payment date.
Securely approve payments. Use ApprovalMax’s approval workflows to sign off all payments. This means that no money will go anywhere without your review and approval.
Control access to payment details. Control who can see, edit, and create payment details. ApprovalMax also keeps a full record of any changes made to the payment details.

What does ‘in beta’ mean?

We’re currently testing ApprovalMax Pay with a small group of customers before it’s widely released. While it is in beta, we appreciate any feedback to help refine and make sure it meets our customer’s needs.

Please get in touch if you’d like to join the beta.

While ApprovalMax Pay (Beta) is only available in the UK right now, watch this space – we hope to bring it to other markets soon!

Learn more about ApprovalMax Pay or join our private beta.