Today: October 15, 2018, 5:33 pm
  
Business

Flywire Adds International Invoicing to Global Receivables Platform

PR-Inside.com: 2018-05-17 10:07:01

Further streamlines the end-to-end payment and reconciliation process for businesses and institutions serving international customers

BOSTON and LONDON, May 17, 2018 (GLOBE NEWSWIRE) -- Flywire, a provider of global payment and receivables solutions, today announced the availability of a new international invoicing service designed to dramatically streamline the billing process for companies serving customers outside of their home country. The new solution, available globally, and free of charge, targets a variety of verticals including technology, manufacturing, travel, media, publishing, import/export, professional services, education and healthcare.

According to the World Trade Organization, the global export opportunity exceeds $7 trillion. Thanks to digital technologies, this opportunity is no longer limited to large enterprises. But companies expanding their sales efforts globally often underestimate the complexities involved in simple processes such as sending invoices to customers in different countries and getting paid. There are questions around currencies, foreign exchange rates and risk, fees, taxes and languages, and a lot less transparency across the payment process. Timelines between invoice and payment are typically longer, and once received, reconciliation can be a very manual and time-consuming process.

"For most companies, domestic billing is easy. There are a ton of off-the-shelf software solutions and the process is simple and straightforward with one currency, one format, well-understood payment methods and costs," said Mike Massaro, CEO of Flywire. "When it comes to international billing, the process is far more complex, and if your invoicing does not make it easy for your international customers to pay you, it creates a domino effect of problems starting with extended DSO, high reconciliation costs, compliance issues, and poor customer satisfaction."

Flywire's new international invoicing solution which has been in beta for the last six months, is already delivering thousands of invoices globally every month for select customers. The offering simplifies the process for users by automating invoice preparation and distribution based on customer and country-specific requirements. Key features include:

  • Multi-Currency Invoicing -provides the opportunity to bill payers in their local currency, with over 100+ currencies available.
  • Automatic Invoice Reminders - enable users to customize settings to minimize the amount of time and effort spent. 
  • Recurring Invoices and Monthly Installments - give users the flexibility to tailor the invoicing process to specific business and customer requirements.
  • Seamless Integration - with the accounting software businesses are using, as well as with most other enterprise applications.
  • Robust Analytics - enables reporting to manage cash flow, detect payment delinquencies, and minimize customer-associated risks.
  • Built-In Compliance - incorporates business and country-specific requirements into each company's invoicing and payment instructions.

The free solution is available immediately and can be deployed stand-alone or in combination with Flywire's global payments and receivables platform.  

About Flywire
Flywire is a provider of global payment and receivables solutions, connecting over 1,400 businesses and institutions with their customers on six continents. The company processes billions in payments per year around the world. Flywire offers a comprehensive suite of products including OnPlan, a domestic billing and payment solution for pre-collection and payment plans. The company also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking. Flywire is headquartered in Boston and has offices in Chicago, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tokyo, Cluj, and Sydney. For more information, visit www.Flywire.com.

 

Media Contacts:
for Flywire
Tim Walsh
timw@walshgroupmarketing.com
+1 617.512.1641



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Flywire via Globenewswire




# 794 Words
Related Articles
More From The Author
Analytica : Iceland Leading Indicator - Leading [..]
REYKJAVIK, Iceland, May 17, 2018 (GLOBE NEWSWIRE) -- The Iceland Composite Leading Indicator (CLI) remained unchanged in April [..]
Cvent Urges MICE Industry to Embrace the [..]
Recent research conducted by Cvent Inc., a market leader in meetings, events, and hospitality technology, shows that two-thirds of [..]
Arch Insurance Europe Announces New SVP, Strategy [..]
Arch Insurance Europe today announced that, effective 21 May 2018, Mr. Simon Williams will become Senior Vice President, Strategy [..]
Reselling Microsoft 365: New Opportunities with Microsoft's [..]
    NOTE: The following article contains content from AppRiver. AppRiver could soon become even more interesting for Swiss [..]
FlexTrade Multi-Asset EMS Named Best Front Office [..]
FlexTrade Systems ( @FlexTrade : Winners of the Financial News Trading & Technology Awards are decided by a large pool [..]
 
More From Business
Integra Certified Document Destruction Achieves Certification
ELKHART, INDIANA, UNITED STATES - October 11th, 2018 - Integra Certified Document Destruction(“Integra”) is proud to announce [..]
11th Asian Downstream Summit: Digital Transformation Awards [..]
SINGAPORE, Oct 10, 2018 - (ACN Newswire) - Voting for Asian Downstream Summit: Digital Transformation Awards 2018 has opened. The [..]
Indonesian Minister of SOEs officially closes 2018 [..]
Surabaya, East Java, Indonesia, Oct 9, 2018 - (ACN Newswire) - Minister of State-Owned Enterprises (SOEs) of Republic of Indonesia [..]
Coordinating Minister: SOEs getting more consolidated and [..]
Surabaya, East Java, Indonesia, Oct 5, 2018 - (ACN Newswire) - Coordinating Minister for Economic Affairs of Republic of Indonesia [..]
How to Buy Quality Custom Umbrellas
Guangzhou, China – 03 October 2018 - Huifeng Umbrella Co., Ltd offers all kinds of high quality umbrellas, featuring exclusive [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.