“Everything is automatic, the implementation is simple and seamless, and the platform means there is less chances of error and reduces the amount of time you need to manage the AP function.”

Reaz Kabir

Senior Financial Services Manager at AUB Group Limited

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AUB Group were seeking an automated payments solution that would seamlessly integrate with their SAP Concur platform – and have it implemented within just two months.

The Challenge

AUB Group is a 200 ASX-listed company that operates in the insurance sector, advising their clients on which insurance is right for them through an intelligent analysis of demands, needs and available options. With over 500 locations across Australia and New Zealand, AUB has a large client base and, with that, complex financial processes and requirements.

AUB Group were a long-time user of SAP Concur, using it as their AP (Accounts Payable) management system. When they received any invoice, it went straight to the Concur dedicated email address, where the accounting team would analyze the invoice, code it, and then send it for approval. Once approved, the accountant could then release the payment, and Concur would automatically direct debit AUB’s bank account, paying the suppliers.

AUB Group has 120 subsidiary companies. While some of their financial departments worked independently, around 30 business entities within the AUB Group shared a centralised finance department. This department was processing two to three thousand invoices per quarter, making the automated capability of SAP Concur a key part of their working process.

“We needed a platform which could automatically make our payments. Otherwise, it was a labor intensive and manual process” said Reaz Kabir, Senior Financial Services Manager at AUB Group Limited. “Once it’s approved in Concur, then we need to manually extract the file from Concur and then upload in our physical bank accounts. The process then required two approvers to log into the system and manually approve the payment, so this was a labor intensive and time inefficient a long process.”

Then, late in 2021, SAP Concur let AUB Group know that they’d be removing that automation piece and recommended alternative solutions. One of those alternatives was TransferMate.

The Solution

“Our biggest worry was having two systems working side-by-side that weren’t fully integrated. It soon became apparent, though, that by using TransferMate we could essentially mirror the SAP Concur automated function, meaning we could keep that fully integrated service.”

With a short timeframe to implement a solution, AUB Group engaged with TransferMate to see how they could help resolve the situation. There were three must-have requirements:

  • The solution would integrate seamlessly into the SAP Concur platform
  • The solution would be able to work at a scale required by the AUB Group, and
  • The resulting platform would act as a ‘single source of truth’ for the organization.  

Only with these priorities in place could AUB Group recommend the solution to their subsidiary partners.

Having looked at other competitors, AUB Group soon found that TransferMate was the only organization that could fulfill their requirements. Implementation began quickly so that there would be no break in continuity.

“The implementation was complex because of our multiple entities. We had to get each entity to sign all the direct debit forms, and then check these with our compliance and legal team but, even with those complexities, we finalized everything on time with the support of the TransferMate team. Even with the time difference of the support team in TransferMate and ourselves in Australia, there was no communication gap.”

The work has not ended for the TransferMate and AUB Group partnership. Through building more API integrations, both sides want to bring the service to even higher levels of performance and capability.

“We’re always looking to improve. When we look at our wish list, there are other features we want to add. Every organization is unique, so we’re working with TransferMate to build new functions bespoke for us through APIs. When we look at the short timeframe TransferMate had and how they delivered the solution so quickly and professionally, we’re confident our wish list will be fulfilled sooner rather than later.”

The Result

From initial contact to the system being up and running, the time period was just two months, even with the complexity of onboarding the multiple entities.

The AUB Group team found the platform very user-friendly and, with the platform synchronized automatically with Concur, they didn’t need to rely on manual approvals – saving lots of time. The TransferMate team also began adding new features to the platform for AUB Group.

“One feature that was added that we really liked was the pre-populating of invoice number so, when we make the payment in the description payment reference, we don’t need to write any description manually. It automatically populates the invoice number on the reference, so once the suppliers receive the funds, they can see which invoice the payment is being processed or paid. So, it’s a really good solution.”

As well as this, the core functionality of TransferMate also made a positive impression.

High on that list was the transparency of the platform, giving users visibility over all the invoices paid that month, broken down to each entity, and that visibility coming from a single ‘source of truth’. This means less errors, a better reconciliation process, and less administration time to process everything.

The security features were also complimentary to AUB Group’s own systems, with all direct debits checked by the TransferMate treasury team at time of set-up for potential fraud and money-laundering activities.

“TransferMate really benefited us in a couple of ways. Firstly, that automated process meant we could manage 30 different entities with ease. Without it, it could have become chaotic if we had to do it all manually – the process was prone to human error and overlooking payments. With TransferMate, all those problems are resolved. Once the payment is approved in Concur, it goes automatically to the TransferMate platform, and our accountants team have full visibility over it all. So, less admin, less error, and less hassle for us as a team.”

The Final Word

“TransferMate is an easy solution to use, everything is automatic, the implementation is simple and seamless, and the platform means there is less chances of error and, maybe most importantly, reduces the amount of time you need to manage the AP function. I would definitely recommend it as an excellent solution for the payment process.”

Reaz Kabir, Senior Financial Services Manager at AUB Group Limited

If you’re a SAP Concur client and want to leverage TransferMate’s global payments infrastructure for your organization by integrating the two platforms, contact the team here.