Corpay has expanded its reach into the UK market with Corpay Complete, a platform designed to streamline financial operations, automate payment processes, and offer real-time control across various sectors.

Adapted for the UK’s Financial Landscape

The launch of Corpay Complete was tailored specifically for the UK’s financial environment. It integrates accounts payable processes and workflows, expense management, oversight mechanisms, and both domestic and international payment capabilities into a unified platform.

This comes at a time when UK finance professionals are feeling increasing pressure to do more with limited resources. A significant 63% of UK CFOs prioritize cost control as their top business objective, according to Deloitte research. Moreover, only 36% have visibility into their cash flow, and one-third of businesses have experienced invoice fraud due to manual processes and weak controls.

Addressing the Global Challenge

These trends are not isolated to the UK but are prevalent globally. Over 50% of finance professionals spend more than 10 hours per week handling invoices, yet only 5% of finance teams operate fully automated systems, as revealed in a recent survey by the Institution of Financial Operations Leadership.

Disparate and disconnected tools often hinder automation efforts, with 67% of global CFOs citing these fragmented systems as obstacles to achieving cost efficiency.

Corpay Complete’s Solution

To help address these challenges and meet the needs of its clients, Corpay Complete offers a comprehensive platform that can save time and reduce costs while providing greater control over fragmented operations. By consolidating accounts payable processes, expense management, and both domestic and international payment functions into one intelligent system, businesses can achieve a more streamlined finance lifecycle.

Businesses adopting the solution can automate and digitize their financial cycles from supplier interactions to approval of payments. Customizable approval workflows and a mobile-first interface aim to eliminate administrative bottlenecks and minimize risks associated with errors and fraud. By accelerating approvals, businesses can enhance relationships with suppliers and seize early payment discounts to boost working capital.

The platform also enhances corporate spending control by integrating card programs and single-use virtual cards. This helps reduce potential cash leakage while unlocking up to 1% cashback on eligible payments.