Immedis, the leader in consolidated global payroll solutions, today announced the launch of Immedis Pay, an automated solution for organizations to manage cross-border payments to their beneficiaries, including employees, tax authorities and statutory third parties. Immedis Pay streamlines global payments processing with end-to-end automation across the entire payment process. The automation efficiencies delivered by Immedis Pay save organizations time, reduce costs and risks, improve the employee experience and ensure all beneficiaries are paid accurately and on time in more than 200 countries and 145 currencies.
Immedis Pay, the next step in the evolution of Immedis Treasury Services, is available immediately as a packaged solution with global payroll or as a standalone offering.
“Managing global payments is extraordinarily complex and prone to error due to the fragmented manual processes across many touchpoints that most organizations use today,” said Richard Limpkin, Chief Product Officer at Immedis. “This not only causes delays and raises costs, but also exposes organizations and their employees to the risks associated with fraud, security breaches, and compliance violations. We created Immedis Pay to solve these problems and we’re thrilled to announce it’s now available to the market.”
Key Capabilities of Immedis Pay
As the leader in global payroll solutions, Immedis delivers secure, compliant, zero-defect payroll and payments for multinational organizations.
- Delivers payroll and tax payments to more than 200 countries
- Ensures on time and accurate payments to all beneficiaries, including:
- People (employees, expats, contractors)
- Statutory Parties (local authorities, third parties, pension)
- Local Partners (third parties, payroll partners)
- Remits payments in 145 currencies from the US dollar to the Malaysian Ringgit
- Processes tens of thousands recurring transactions every month
- Operates with 99.98% error-free rate
- Dedicated global payments experts oversee all customers and are on hand to solve any service issues or questions.
Key Features of Immedis Pay
- Variety of Funding options – To meet an organization’s treasury needs Immedis Pay offers a choice of funding methods:
- Direct Debit (pull) funding options in 43 countries
- Fund in single currency for multiple countries
- Fund in local currencies
- Cost savings – Organizations avoid the additional costs associated with payment transfers by leveraging Immedis’ network of API connectivity to local payment networks (ACH and SEPA) in 100 countries via our banking partners.
- Security – Certified for ISO 27001 and SOC 1 + 2, Immedis also conducts Penny test payments and anti-money laundering checks (AML) prior to Go-Live to further heighten security measures.
- End-to-end automation between HCM, ERP and bank accounts – Eliminate tedious and error-prone tasks such as setting up wire templates, performing manual reconciliations post-transaction, and emailing approvers.
- Full, on time delivery to payees – Immedis assesses and reviews all local banking and payment requirements in advance of payment to ensure funds are transferred on time.
- Full transparency – Comprehensive reporting and reconciliation capabilities built into the solution. Easily generate audit trails required for mandatory reviews and regulations.