News | July 20, 2023

JAGGAER Pay Open Connect Automates Payments With Any Global Payment System

Bring-your-own bank or connect to JAGGAER Pay’s Open Connect Verified Partner TransferMate

JAGGAER, the global leader in Autonomous Commerce, today announces new enhancements to its integrated payments solution. JAGGAER Pay Open Connect enables end-to-end global accounts payable (AP) automation, providing users with the ability to onboard suppliers, process invoices, and originate all their global payments in a single, seamlessly integrated solution.

“Automated payments are one of the cornerstones of JAGGAER’s Autonomous Commerce strategy,” said Dawn Andre, JAGGAER’s Chief Product Officer. “There is no one-size-fits-all solution to meet 100% of payment needs, so JAGGAER’s extensible platform enables a bring-your-own approach to complement our natively integrated partner apps. JAGGAER Pay Open Connect is not an add-on to your existing payments stack but rather replaces and automates the complete solution.”

Legacy AP payment processes are manual and inefficient. AP teams spend time bouncing between multiple systems and completing jobs using ERP software designed to manage the internal organization, rather than elegantly interfacing with external networks of suppliers, service providers, and financial institutions. JAGGAER Pay enables those teams to automatically create, approve, batch, and process payments based on approved invoices. Alongside JAGGAER’s selection of natively integrated, best-in-class payment partner apps, users can now leverage end-to-end global AP automation plugged into any global bank or payments processor, such as JAGGAER Pay’s longstanding Open Connect verified partner, TransferMate. TransferMate enables JAGGAER customers to simplify payments within JAGGAER while expanding their payments reach to 140+ currencies and 200+ countries and territories.

“JAGGAER and TransferMate’s mutual customers benefit greatly from the flexibility of Open Connect,” said TransferMate CEO, Sinead Fitzmaurice. “The paired solutions work out of the box, resulting in significant efficiency gains and a simpler, smarter and more secure way for businesses to send domestic and international payments.”

As well as settling international payments faster, easier and at lower cost, TransferMate’s embedded security detections protect against fraud and money-laundering activities, with predictive risk assessments and real-time response mechanisms.

JAGGAER Pay Open Connect is a natural extension to JAGGAER’s comprehensive suite of procure-to-pay solutions. “In fact, with JAGGAER Pay we now offer seamlessly integrated solutions all the way from source-to-settle,” Andre concluded.