If you’re scaling an international business with vendors and suppliers from around the world, your B2B accounts payable team may be facing these challenges:
We’re founders of fast-moving global companies, so we know the delicate balancing act of paying suppliers on time in multiple countries and currencies while protecting cash flow and expanding into new markets.
We created Jeeves Pay to solve the exact problems we’ve faced (and you may encounter as your business scales). In this article, we’ll go into detail on how Jeeves can help you bypass many of them:
Ready to pay your supplier invoices on time without surprises or hidden fees? Try Jeeves Pay: the first-of-its-kind credit-backed B2B accounts payable solution that removes red tape and protects cash flow when sending vendor and supplier payments quickly.
We’re Jeeves, an all-in-one payment platform and spend management solution for scaling international companies looking to:
As founders of global companies, we know first-hand the challenges of running a fast-moving company in multiple countries and currencies. It’s why we’ve created the global business payments solution, Jeeves Pay, to help your accounts payable team settle your domestic and international supplier and vendor invoices on time, without using up the available cash in your corporate accounts.
We’re unique because our B2B payments service is part of our full suite of financial services, including multi-currency corporate credit cards and a global spend management system. With Jeeves, you can track total corporate spend and expenses in one centralised account, without the need for local bank accounts and credit cards in each country.
For example, you can check up-to-date Jeeves Pay data in real time on the Jeeves platform. Then you can download all your Jeeves transactions to your accounting software, reconcile business payments, and complete monthly reports from multiple countries and currencies in record time (instead of the extra two to four weeks it might require by using manual processes and multiple tools).
Invoice processing is time consuming and slow when you’re using several tools. You may be dealing with a variety of payment methods, from ACH payments and paper checks to wire transfers through various financial institutions.
Here’s how your finance team can streamline the AP process with a single digital payment system for both international and domestic B2B transactions, Jeeves Pay:
You can stop guessing how much your local and international wire transfers will cost with Jeeves Pay. As an electronic payment service, we use the daily mid-market exchange rate to calculate your currency conversion. Then we'll show you the total cost of your transfer before you press send with no extra charges to surprise you later.
When you’re ready to pay, you can hit the send button (or cancel the payment). We want you to make decisions with full transparency at Jeeves.
You can send any amount of money (up to your full line of Jeeves credit) to most bank accounts in 140 different currencies. If you don’t have a Jeeves account yet, you can sign up for one in five minutes and get a response to your application in as little as 24 hours.
Your AP team can build good relationships with vendors and suppliers without breaking up large payments over time and jumping through the many hoops of traditional B2B payment processing. Payment via Jeeves Pay can settle instantly, in 24 hours, or up to three business days max, depending on the recipient’s country.
Once the money is in transit, both you and the receiver will get email notifications. Then, as soon as the payment settles in your recipient’s accounts, you’ll both receive a second email (so supply shipments or your vendor’s start-of-service can move forward).
Know-Your-Customer (KYC) and Know-Your-Business (KYB) compliance checks happen instantly during our B2B payment processing, which means your supplier payments won’t get stuck in five to seven days of red tape. They’ll arrive on time or early, so your business can keep moving forward thanks to the quicker payment cycles Jeeves Pay provides.
We designed Jeeves Pay to be easy to use without barriers to slow you down. You can send domestic or international transfers from the same tool in the same way, without having to decide between multiple B2B payment methods.
It takes only a few minutes to enter your recipient’s payment information in Jeeves Pay, like:
You can then send any amount of money (up to your available Jeeves credit limit). Jeeves Pay doesn’t have daily or weekly limits on payment amount or the number of payments, so you’ll never need to schedule multiple smaller payments to one recipient.
Here’s an example:
If you have a Jeeves balance of $100,000, you can send it all to a single supplier in one online payment or you can make small payments to 500 suppliers and vendors in 24 hours.
You can sign up for a Jeeves account in 5 minutes and get a response to your application in as little as 24 hours.
When you’re paying local and international invoices on the Jeeves platform, you automatically get our spend and expense management program at no additional cost. Inside your account, you can:
Read Spend Management for Finance Teams: One Tool for Global Companies to learn more about how Jeeves helps you reduce your finance team’s admin.
When you use Jeeves Pay, you also have a Jeeves account. This means you have a global payment stack that protects your available cash as you scale, including:
Here’s how the online marketplace for pet supplies Laika uses Jeeves Pay:
Jeeves Pay can help you skip the slow-moving admin of traditional B2B payment options, so your accounts payable team can pay your suppliers, vendors, and contractors on time. Your finance team can:
With Jeeves Pay, you’ll get the functionality you need to streamline your accounts payable process and have more time and control over your business financials.
Ready to remove the unnecessary headaches from your B2B accounts payable? Get started and sign up for Jeeves Pay today.