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The smarter way to send business payments internationally

3rd Mar 2020
Brought to you by
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Award-winning cloud accounting software for multi-company businesses.

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Save as much as €60,000 on an average of 100 FX payments a month over a year with AccountsIQ's new seamless integration with TransferMate Global Payments.

Using the TransferMate Global Payments service within AccountsIQ has enabled us to make significant savings on our FX payments. On one recent FX transaction alone we saved €2,500 versus the rate quoted by our bank. It was also easy – doing it directly from within AccountsIQ as part of the normal payment run process.  Saving money while streamlining our FX payment process – it is a no brainer for me.” David McMahon, CEO, Emydex Technology

TransferMate, one of the world’s leading cross-border B2B payments providers, and AccountsIQ, a market leading cloud accounting, consolidation and business intelligence solution, now have a product integration which offers seamless international payments for AccountsIQ clients.

While AccountsIQ customers can already benefit from the preferential exchange rates and lower fees offered by TransferMate, the advent of TransferMate’s leading API technology means that international payments can now be generated directly from within the AccountsIQ platform.

The enhanced partnership showcases the commitment by two leaders in the Irish fintech space to improve accounting and payment options for global businesses. In September, TransferMate won the inaugural Deloitte Financial Services Innovation Awards and in October, AccountsIQ was named Enterprise Accounting Software of the Year for the second year running at the recent 2019 UK Accounting Excellence Awards.

Speaking about the announcement, Gary Conroy, Chief Product Officer at TransferMate, said:

With a growing global customer base, more AccountsIQ users are calling out for a simpler, faster and more cost-effective foreign currency payments solution. By integrating TransferMate’s capabilities with AccountsIQ software, we can now streamline the process of making FX payments from within the AccountsIQ platform. A key driver of TransferMate’s growth is deep strategic partnerships with accounting software providers, and we are really excited to be working with AccountsIQ to bring this product to their customers.”

This approach means only one login is required to make fast and secure FX payments directly from AccountsIQ’s AP payment routines. This offers tangible time savings for accounts teams, as all postings happen automatically and no manual reconciliation is required.  

Darren Cran, Chief Operating Officer at AccountsIQ, said:

Our philosophy at AccountsIQ is to help ease the burden of processing transactions for finance teams while making an impact on their bottom line. We’re delighted that this partnership will help to save our clients both time and money by simplifying processes and reducing fees. By integrating TransferMate’s leading technology, we are fulfilling our mission to provide a comprehensive and innovative accounting and business intelligence platform.”

Signing up will be simplified and TransferMate can analyse our users FX payments to estimate the savings that can be achieved before they sign up. Once operational, all FX processing can be done as part of a payment run directly from AccountsIQ. Working with complementary best-of-breed, sector-specific applications to deliver vital processes and data means that organisations get a seamless solution for their finance needs.

How will clients benefit?

  • International payments can be generated directly from within the AccountsIQ platform
  • Access competitive FX rates and instantly benefit from significant savings on international payments
  • Faster settlement time and auto reconciliation as it is handled from within the accounting system  – all postings happen automatically and no manual reconciliation is required
  • Greater control over payment settlement through our approval workflow
  • Only one login required (to AccountsIQ)
  • Benefit from a simplified, international payments process that is accessible for all

Average savings based on 100 FX payments per month:

  • Improved FX Rates & No Fees: £/€45 cost savings per payment = £/€54,000 p.a.
  • Admin Time Saving: 7.5 mins savings per FX payment = 18.5 admin days p.a. @£/€40 per hour = £/€6,000 p.a.

Total potential annual savings = £/€60,000 p.a.

View a short video explaining the integration. 

Get in touch, if you would like to see the benefits AccountsIQ can offer your business, or request a Demo.

Webinar: TransferMate Seamless FX Payments from within AccountsIQ

Make FX payments directly from within AccountsIQ with our TransferMate seamless integration. Save time – as all postings happen automatically, no manual reconciliation is required,  and save money by accessing competitive FX rates. Join our Live Webinar and see how you can save as much as 60,000 Euros over a year in saved time and improved FX rates. This webinar covers:

  • The benefits of using TransferMate Global Payments
  • How to make an FX payment using AccountsIQ’s seamless integration
  • How to get started using TransferMate

When: 5th March, 11am GMT

Register now

About TransferMate Global Payments

TransferMate is a global B2B payments technology firm, enabling companies to send and receive cross-border payments faster and easier than ever before. TransferMate has built one of the largest portfolios of payments licences worldwide, including in 51 US states and territories, to support trading in 162 countries and 134 currencies. Leading banks, fintechs & software providers partner with TransferMate to offer an enhanced user experience for their business customers. Using TransferMate’s technology and global banking infrastructure, companies benefit from better exchange rates, greater transparency and improved reconciliation via direct integration into accounting and ERP systems.

The unique TransferMate offering has also attracted major strategic investments from leading banks such as ING Group N.V. and Allied Irish Bank, who have cumulatively invested €51 million in the company.

About AccountsIQ

AccountsIQ's award-winning cloud accounting software and consolidation solution which simplifies how finance functions capture, process and report the results of multiple location businesses. 

Today, over 4,000 businesses in 85 countries enjoy 24-7 access to top level Financial Management functionality, enabling smarter working practices through integrated approval workflow and expenses apps, Webservices API integration with front end systems and automated inter-company and multi-currency processing, delivering simple and accurate consolidated results and a superior level of business insights.  

AccountsIQ won the Enterprise Accounting Software of the Year award for the second year running at the recent UK Accounting Excellence Awards and has been ranked in the top half of the Deloitte’s Technology Fast 50 high growth index for the past 4 years.

Get in touch for a chat about your requirements on +44 (0)203 598 7350 or sign up for one of our webinars.