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In a sentence: Malala Fund were sending over 100 – 150 international payments per week into over 10 countries, often using local currencies. They wanted to improve that process by upgrading their SAP Concur platform. 

About Malala Fund

Malala Fund is working for a world where all girls can learn and lead. Malala Fund advocates for resources and policy changes needed to give all girls a secondary education, invests in local education leaders and amplifies the voices of girls fighting for change.

Challenges

Malala Fund was experiencing difficulties with the volume of international payments and the different foreign currencies they needed to use.

“We would send out around 150 payments per week – probably just a little under that,” said Danny Andrews, Senior Accountant at Malala Fund. “We have partners in 10 countries, so these payments are in multiple currencies.” 

Malala Fund drives feminist action by distributing $1.5 million in funding (read more)

As its mission brought them to countries where payments of local currencies were required, they had to have a fast, reliable, and secure payments network to send payments through. The reach of the SAP Concur platform without the integration meant Malala Fund needed to use different systems such as correspondent banks to make payments.

“The gap in coverage meant difficulties with a lot of one-off payments, like paying employees in Pakistan and Nigeria. It was very disruptive to the AP flow of the organization.”

This led to several difficulties. Firstly, it meant disconnected systems and reporting tools that the financial team needed to consolidate manually. This led to increased administration time needed to process international payments, and more complex reconciliation of payments afterwards.

Correspondent banks also meant delays, as payments need to move through a complex network of arrangements between banks across the world. This also means payments are more difficult to track and, when something went wrong, a longer process to find where the payments got stuck and either bring them back and start again or move them through.

As the payments moved through so many third parties, it can also result in payments sometimes not reaching their destination in the full amount, as hidden handling fees are taken along the way. While these fees are generally not large, this can cause difficulties in reconciling them down the road. Also, in relative terms, those fees can mean a lot depending on the destination.

Solution

‘Girls tell us what they fight for’ Malala Fund digital series (read more)

Malala Fund needed a simple-to-use, integrated international payments system that operates in multiple countries and multiple currencies. They needed payments to move quickly through the network, have simple but comprehensive reporting tools, and for the fee received to be exactly the fee sent.

The solution was integrating PaymentsHub by TransferMate with their SAP Concur platform.

“We did not have access to a reasonable supplier or any software just to send out payments internationally where we needed to operate. PaymentsHub was an easy solution to pick because it matched so well with our AP software. Now, we operate with reasonably seamless international payments.”

Malala Fund uses it for vendor invoices, invoice payments, paying vendors domestically and internationally, as well as employee reimbursements. On top of that, they also use it for grant payments to grantees  in 10 countries.

“The biggest benefit, simply enough, has been the ability to give confirmation to our beneficiaries. It gives them peace of mind that the payments have been sent to them.”

The platform itself has been easy-to-use for the finance team. It’s allowed for a more clear-cut international payments process and has helped with confirmations and reporting procedures. This integration of systems and their payments process has also meant less administration time for the time, and improved reconciliation.

“I came from using a different platform, and at the time it was preferred, but the transition into Transfermate was easy. It’s great for making payments, and really straightforward to use – I particularly love it for international payments. With TransferMate, we get payment confirmations, and the information feeds back to Concur and marks it as paid. The whole flow is smooth.”

Speed of transfers – an imperative for the Malala Fund team and their grantees around the world – has also been excellent under the TransferMate system.

“Speed is important to us. We come into situations very frequently where we need to send payments urgently. A lot of our grantees can be in a difficult position, and they just don’t have readily available funds. It’s something TransferMate does really well – the speed of international transfers is a big benefit.”

Final Word

“The international payment capabilities, the integration you have, the versatility in which you implement the software, the customer service, and transparency… it’s an excellent solution.”


You can donate to the Malala Fund here. To talk to the TransferMate team and see how we can support not-for-profit organizations, contact us here.

In a sentence: Delaware wanted an international payments partner to both use themselves and leverage on behalf of their Asia-Pacific customers, allowing all parties to trade more cost-effectively, efficiently, and flexibly.

About delaware

Delaware is a global organisation, 5,000 people strong, that delivers advanced ICT solutions and services, supporting its clients through business and digital transformations. They implement transformational projects using ERP and other software’s, embedding new processes and technologies within organisations work based on partnerships with SAP, Microsoft, OpenText, and Salesforce.

The Southeast Asia arm of delaware, consisting of around 600 people, carries out this same mission in the region. It has partnered with TransferMate to include the digital transformation of international payments into its value proposition for companies. They also use TransferMate for their payments and FX activities.

The Challenge

Singapore Harbour – one of the many giant trading hubs in South East Asia

Asia is a complex financial ecosystem to navigate, with nearly a dozen major economies neighbouring each other, all with separate currencies, laws, regulations, and cultures. Massive internal and external trading activities mean money and goods flow across borders with regularity, and businesses need to be adept and agile at navigating all the obstacles which that movement brings.

Delaware, and their partners, are at the centre of that navigation. Their platforms help businesses trade internationally efficiently, cutting costs and the administrative burden on financial teams.

“There is a lot of business going back and forth between China and Vietnam, Singapore and Malaysia, and all other regions. And every time that money changes hands and it changes currency, companies have to pay for it,’ said Christophe Derdeyn, Asia-Pacific Managing Director, delaware. “For us, it seemed a very logical thing to offer them a solution like TransferMate to help them optimize and circumvent these kinds of complexities that they deal with’.

“It was the speed of setting up bank accounts with addressable BICs and IBANs pretty much instantly was what really caught their attention.”

Besides those two core pillars of cost and efficiencies in the actual payments process, another clear friction point in trading for their Asian partners was the ability to set up a banking footprint in new regions and begin trading immediately.

‘Our clients would have to go through long KYC processes to open up a bank account in, say, Singapore. It meant a lot of obstacles that needed to be overcome before trading could begin. In fact, in our conversations, we thought the speed of the international payments TransferMate can deliver would be a key selling point, but in fact, it was the speed of setting up bank accounts with addressable BICs and IBANs pretty much instantly was what really caught their attention.”

The challenges delaware could solve for businesses through the TransferMate partnership were clear — cutting costs of international trade, using technology-led payment platforms to create administrative efficiencies, and allowing businesses to set up and trade within new countries easily.

The Solution

TransferMate’s global payment’s infrastructure covers 200+ countries and territores

One of the foundation stones of the partnership – and a prime reason why delaware chose TransferMate – was the regulated global payments infrastructure built up through the acquisition of 92 banking licenses around the world.

“I think the two biggest differences between TransferMate and the alternatives in the region are, firstly, you are B2B centric. The second is that you have an incredibly broad footprint, and you work with the biggest banks like J.P. Morgan and Citibank as a backbone to the service. If you look at the scale that you already have, the reach that you have as an organization, and the partners that you work with, they are of a different calibre to the other companies operating here.”

Cutting costs of international trade

This robust infrastructure allows businesses in the region to instantly leverage it as if they went through all the work of setting up a banking footprint in these regions themselves. It also allows them to move money through a proprietary, integrated network at a low cost. This is compared to sending it through several regional banks, each charging a fee and FX costs.

“We have saved 1.5% on all FX costs since the beginning of using it around six months ago.”

“We believe that there is a big opportunity, especially in Southeast Asia, and probably more so than in Europe, for companies to save big time on these international payments and money movements.  We can help companies run their regular banking operations at a much more favourable cost, cutting down on the majority of banking fees and offering better FX rates.”

Delaware uses TransferMate for international payments, and the savings are clear.

“We have saved 1.5% on all FX costs since the beginning of using it around six months ago. Banking fees have also dropped, so the total impact is quite significant. We’re using this as a real-life example to get other entities on board.”

Creating administrative efficiencies for international payments

Trading across borders, and managing multiple currencies, can be a complex and administrative-heavy task. Different systems and platforms must be used, then aligned, and then reconciled. This can lead to finance teams focusing on paperwork rather than on more productive areas.

One example area for delaware to help their clients achieve these efficiencies was for those that used SAP.

“We are an SAP integrator, so many of our customers run SAP for their back-office operations. When we talk to them, we can demonstrate that you can directly integrate TransferMate with their core ERP system. Because of the integration, they don’t really need to change their processes or systems. They can basically do what they’ve always done, but instead of selecting bank account A, you now select bank account B, which is TransferMate, to execute your payment.”

The integration between TransferMate and SAP Concur (you can read more about the partnership here) means users can automate the accounts payable process to reduce the administration workload.

“To expand that ability, delaware has developed integration components between SAP S/4HANA and TransferMate. It’s a journey that hasn’t been completed yet, but we’ve completed two integrations and are in the process of implementing a third. And, as we like to do, we’re using ourselves as guinea pigs to make sure the integration works seamlessly.”

Quickly expanding a client’s banking footprint

Kuala Lumpar, Malaysia – one of the countries covered by Global Accounts

The final piece of the puzzle was leveraging TransferMate’s global payments infrastructure to allow delaware clients to set up a banking footprint in new territories quickly and at no cost.

“When I mention this to people, they just go, “Oh, wow. Great. This is awesome.”

The solution for this came in the form of Global Accounts by TransferMate, which allows users to hold, pay and receive in 30 currencies and set up virtual local bank accounts with addressable BICs and IBANs.

“Say you’re a Singapore company, and you want an addressable account in the US. With Global Accounts, you click a button, and there you are, you have an account. When I mention this to people, they just go, “Oh, wow. Great. This is awesome.” You don’t need to go through all the KYC hoops you normally would. You just open an account, and you can start trading straight away.”

The continual process of adding more currencies from the region to the Global Accounts product is a prime target for the future.

“It doesn’t cover every single market – yet, but it’s continually improving. Malaysian Ringgit was added this year, and we already have the Japanese Yen, Hong Kong Dollar, and Singapore Dollar, so we’re getting there and Chinese Yuan is coming soon. And, of course, companies here can set up accounts in all the other countries, including all of the EU, the US, Canada, Britain, etc., and start trading locally there too.”

Delaware is already onboarding new companies to adopt TransferMate to make their international payments and international cash management more efficient.

“Some of the most interesting are in the maritime industry, which is obviously the paradigm of companies conducting international trade. We’ve started the process of doing step-by-step integration with their ERP, so in the next four to six months, all their flows will run through TransferMate. Just that sector will see 80 million dollars a year flow through the TransferMate payment rails.”

The Final Word

“Who doesn’t want to save money? Who doesn’t want a more productive payments process & adopting it as easily as opening a new bank account? Using TransferMate means keeping money in your pocket and being able to use it for something else – what company doesn’t want that?” 


To learn how TransferMate can help you make international payments more efficient, and manage multi-currencies with ease, contact the team today.

In a sentence: HDI Global were looking for a partner that would seamlessly integrate with their SAP Concur system and make international payments a more efficient process.

About HDI Global

Who watches the watchmen?

Whenever a sector underpins how societies and economies work, there’s always a large industry supporting it. They ensure any economic shocks are minimally felt and reassure investors and the public that nothing will collapse no matter what pressures are put on the sector. For HDI Global, they are one of those key entities underwriting the insurance industry (literally).

Who insures the insurers? That would be HDI Global.

A truly global operation, HDI is represented in more than 175 countries, insuring companies worldwide through internationally coordinated insurance solutions. They are the type of insurers that the world economy at large relies on.

The Challenge

“All of our requests had to be typed in manually into our banking platform, which of course, opened up a lot of clicker errors”

Agnieszka Rudnik, HDI Global

The foremost challenge for the HDI Global team was a lot of administration when processing international payments within their SAP Concur platform. There was a disjointed invoice and payment approval process and a lot of manual double entry.

“All of our requests had to be typed in manually into our banking platform, which of course, opened up a lot of clicker errors, and we did have a lot of bounce-back payments because of information not matching’ said Agnieszka Rudnik, Treasurer and Vice President at HDI Global. ‘We also had to dedicate a resource to managing those types of payments. It was all very cumbersome and very inefficient; both error and fraud-prone.”

HDI wanted to eliminate that double entry and double review approval process. They wanted to tighten up and set control around their payments, creating clear reporting around what payments were made versus what payments were approved.

The old process meant lots of uploading and downloading of data across systems
The old process meant lots of uploading and downloading of data across systems

“Prior to TransferMate, our systems were unable to initiate payments upon approval, which meant that the documentation and the review process was kept separate from the actual triggering of the payment.”

This documentation separation from the process meant each request would go through a document management system. Once the review and approval had been finalized, the data had to be entered into another platform – the banking platform.

“And from there we would enter the banking instructions with the amount we wanted to pay, and then approvers, reviewers would then again have to go in, match up the information, and then release the payments. It was complicated…”

The Solution

“It made it easy because the reconciliation is done on the spot.”

Agnieszka Rudnik, HDI Global

The solution to their international payment headaches had already been built to work within the SAP Concur platform – PaymentsHub by TransferMate.

“We utilize SAP Concur, which manages both the document, the approval review, audit trail, as well as processing of payments on some level. They do not handle international payments, and this is where PaymentsHub comes in.”

With the TransferMate plug-in, that extra step of moving the data from one platform to another is eliminated.

“Once a payment is approved in Concur, it handles the upload of data into PaymentsHub. The information then appears in the platform within PaymentsHub. Once everything matches in a final review, we select the bank account we want the payments to leave, and that’s it.”

A view of the PaymentsHub platform
A view of the PaymentsHub platform

This tightening up of the payment process on one end, also resulted in time savings at the reconciliation stage.

“It made it easy because the reconciliation is done on the spot. It’s 99.9% error-free. And the reconciliations are very quick because we were able to download a report out of Concur for the day and then match it against what we are seeing in PaymentsHub.”

This reporting can be done daily, with the banking information stored and controlled within PaymentsHub. Once it’s entered once, you don’t have to reenter it.

“We are now able to dedicate a resource to reviewing, analyzing, and controlling of data rather than being consumed by data entry.”

Agnieszka Rudnik, HDI Global

Underpinning this easier-to-use process was more robust anti-fraud and error controls than ever before. The approval process meant there was always a clear line of sight on the payment, and nobody was able to manipulate data after it had been approved.

“Once the approval happens in Concur, nobody else touches the payment. The detail, the payment, or the bank instruction of the vendor. So, we know that once the payment is approved in Concur, there’s no other person touching or manipulating the data. We can trust that the amount that was approved and the vendor that was approved is the same in both systems.

Another control strengthened was the banking instructions.

“Once a change is done to any banking instructions, it has to be reviewed and approved by an admin. And once the bank instruction’s approved, it’s not changed unless a change happens. And if it does happen, then it’s noticed, and it has to be questioned.”

This tightening up of the overall process, and strengthening of the security systems behind it, allowed HDI to reallocate their resources more efficiently.

“We are now able to dedicate a resource to reviewing, analyzing, and controlling of data rather than being consumed by data entry. The system gives me a better control over what is being paid and I can review at a glance what payments are leaving our account. Our reporting capabilities have vastly improved, and I no longer have that worry that someone could change the bank instructions between the time the payment is approved and initiated. That makes a big difference.”

The Final Word

“I would recommend PaymentsHub by TransferMate to anyone using SAP Concur. It has a seamless connection with SAP Concur and, once the payment is approved, it flows flawlessly into this platform. It’s also given me greater visibility and control over our entire payment process.”

Agnieszka Rudnik, Treasurer and Vice President at HDI Global


If you’re a SAP Concur user looking to upgrade your international payments process, visit the SAP Concur App Center to begin the integration process.

In a sentence: SAP Concur wanted a payments partner that could integrate with their platform and support their customers’ international payments process.

SAP Concur: By the Numbers

48,00066 million€27.8bn4,800
CustomersUsersRevenue in 2021Employees

About the SAP Concur and TransferMate Partnership

Integration is a very modern method of innovation. Combining the power of one great idea with another has the potential to deliver a whole plethora of new solutions to a marketplace.

SAP Concur is a great idea. It’s one of the world’s leading expense, travel, and vendor invoice solutions. It combines all spending into one system, providing a single way to manage spending from end-to-end, and simplify the process for everyone.

TransferMate’s great idea was to build a global payments infrastructure to outperform the traditional banking network, allowing payments to travel faster, more transparently, and more cost-effectively around the world.

In 2018, SAP Concur and TransferMate came together to embed TransferMate’s infrastructure into the Concur platform, making it easier for SAP clients to make international payments.  

The Challenge

SAP Concur wanted to improve their customers’ international payment experience on the platform

SAP Concur wanted to expand and improve their offering to customers, from SMEs to Enterprise-level organizations, particularly when it came to international payments.

There were three major improvements they wanted to make through a partnership with TransferMate: 1) Expand their global footprint when it comes to international payments, adding available currencies and territories for users, 2) Give users more choice in the method that they pay with, and 3) automate the accounts payable process within SAP Concur to reduce administration time for customers and make it easier for users to make payments.  

Previously, the SAP Concur system was limited in the international payments space because its payments network was focused on the North American market. This meant their customers were extremely limited in being able to pay with any currency other than a US or Canadian dollar.

“Our clients were running into situations where they’ve got vendors that need to be paid in international countries, and they struggled with being able to either get decent rates through their existing treasury relationship’ said Dave Owen, Director of Global FSI Partnerships and Alliances at SAP Concur. ‘Or they’d have had to go down the route of opening up a new presence in that country because they feel that that’s the only way to get these vendors paid.”

Similarly, their network also limited their customers to using certain methods for payment, such as check. They would then have to process the payment outside of Concur and therefore it could take a long time to process, be non-transparent, and be costlier than it should be.

For quite some time, we’ve only had the ability to issue check or ACH in the US for our vendor payments. It simply wasn’t enough in terms of choice for our customers.

“For quite some time, we’ve only had the ability to issue check or ACH in the US for our vendor payments. It simply wasn’t enough in terms of choice for our customers. Then we found there was an opportunity to leverage ecosystems that existed out there to do things better. By working with partners like TransferMate, we’ve been able to provide extended payment modalities for these customers.”

Finally, the automation challenge was a complex but important one to resolve. Previously, SAP Concur users would have to download payments data from their SAP Concur system, upload it to their banking system, and then do rigorous cross-checking and reconciliation to ensure no errors or potential fraudulent activities (such as changing banking details between these data downloads and uploads).

Within a few months, the TransferMate and SAP Concur teams had produced a solution – PaymentsHub.

The Solution

A screenshot showing the PaymentsHub platform

PaymentsHub sits within the SAP Concur app store. Users can embed PaymentsHub into their SAP Concur platform when they want to improve their international payments process. The implementation process is quick and easy – a business can be set-up within a day or two.

But how exactly does it solve those challenges SAP and their customers were facing?

When it comes to expanding their international payments footprint, partnering with TransferMate gave them an instant resolution. TransferMate has the largest non-bank licensing footprint in the world and, even including all major banks, TransferMate has the third largest. This allows SAP Concur customers to have the ability to pay easily in 140+ currencies and in 200+ countries.

You guys went through the effort of building a very real, and global, payments infrastructure.

What’s more, with the infrastructure TransferMate has built, these payments all happen within a single ecosystem (compared to correspondence banking where payments can travel within multiple banks before arriving at its destination) making them more cost-effective, more transparent, and faster.

“TransferMate brought something different to the table with the international payments. And it’s not simply just, “Let’s take the US dollar, impose the FX rates on top of that, and then simply claim that we’re able to do international payments.” No, you guys went through the effort of building a very real, and global, payments infrastructure.”

That long journey of building this global payment infrastructure through acquiring individual national licenses and connecting them via technology pays off in these exact instances. It’s that solid foundation, combined with a smooth platform, that makes PaymentsHub such an effective solution.

“It’s given the SAP Concur the ability to move beyond relying on an ACH to make international payments, which meant the payments essentially took place outside of our system. This makes payments more difficult to track, reconcile, and means more work has to be done to check for fraud. We’ve now got the functionality to be able to provide international payments all within Concur Invoice itself – that makes a big difference.” 

PaymentsHub
No. of Transactions
2021 – 2022
PaymentsHub
Payments Flow by Value
2021 – 2022
+332%+ 222%

The PaymentsHub integration also expanded the way users could pay. The Concur platform had offered users the ability to pay with card, check, ACH, wires etc., but only within the US and Canada. Any payment that went outside that region became subject to delays and additional costs. With PaymentsHub, SAP Concur could now offer all the same methods to pay in regions right across the world.

The work that TransferMate has done to make international payments as simple as possible is second-to-none.

Automation and simplification of the AP process were the capstone of the project. By linking disparate systems through API integration, PaymentsHub users are now able to reduce their administration time, while also reducing errors and the risk for fraud.

“The work that TransferMate has done to make international payments as simple as possible is second-to-none. Our customers don’t have to go outside of the Concur platform to process payments for any step of the journey. We’ve been able to provide a more streamlined, simplified approach for our customers, while also giving them more options on how and where they can pay.”   

That work of automating pain points and tying disparate systems together in an easy-to-use platform is continually ongoing.

‘TransferMate has done a great job in helping us in our own development work and some of the enhancements we’ve done with those APIs over the years. We’re getting really good at reconciliation back into ERP systems and the work we’ve done together, the input we’ve had – not only from TransferMate but from our joint customers – has helped us get to this point.”

Any time we talk about AP, our minds have always traditionally gone to AP automation, but that’s only an answer if you know what the question is.

The automation strategy was always underpinned by focus on solving customer pain points, not automation for the sake of it.

“Any time we talk about AP, our minds have always traditionally gone to AP automation, but that’s only an answer if you know what the question is. We really need to understand what it is our customers are trying to solve around their AP pains. Quite often it’s the payments process, and all that goes on behind that, that they need to solve for first, which can also be supported by an automation solution at the same time.”

Through solving these three key pain points – payment reach, payment options, and automation – the Concur Invoice platform now provides a much more seamless international payments functionality.

It has also allowed SAP Concur to target a greater range of customers, both in size and geography. They can now onboard an SME in Europe as easily as they were able to previously in the US, and that SME can grow exponentially without ever having to move off the platform.

“It doesn’t matter which industry that you’re playing in or what size of organization you are. At the end of the day, there are spend management requirements for every organization. That’s the opportunity there that’s been so great. We’ve got organizations that have vendors all over the world that need to be paid, hence the invaluable nature of what TransferMate brings by way of international payments. That doesn’t stop from the small through to the midsize organizations – it extends itself right into the largest of businesses as well.”

“And it’s not these advancements that we’ve made that gives me such confidence in TransferMate, it’s the way we’ve advanced together. You guys have gone above and beyond what we’d expect at every stage. The way the platform and the product offering continues to evolve year after year needs to be called out – and the value and benefits it’s brought are customers has been second to none.”

The Final Word

“Would I recommend TransferMate as a partner? Absolutely, although I don’t want to share you guys with anybody else! We always tell our customers to consider PaymentsHub by TransferMate where it’s identified that international payments are a priority, and we’ve had phenomenal growth and adoption since it was launched.”

Dave Owen, Director of Global FSI Partnerships and Alliances, SAP Concur

If you are a SAP Concur customer looking to improve their international payment process, contact the team today.

TransferMate and delaware have announced a strategic partnership that will deliver additional value for SAP customers who need to make cross-border payments.

delaware implements and maintains SAP’s S/4HANA and ECC6 solutions for medium and large corporations globally, guiding its customers through their business and digital transformations. With operations in 20 countries, delaware works with leadings brands like Decathlon, Sony, Sembcorp, and have ongoing AMS (application management services) with many customers.

‘We’re always looking for ways to add transformational value to our customers’ said Eric Hiernaux, Managing Director at delaware International. ‘Aligning the immense capabilities of the SAP platform with our customer’s business objectives is a central theme in delaware’s offering. TransferMate’s integrated solution with SAP will allow our customers to pay and receive payments quicker while reducing costs, improving transparency, and ensuring optimal cash management and bank optimization across global entities and currencies.’

Eric Hiernaux, Managing Director at delaware International and Sinead Fitzmaurice, CEO of TransferMate, celebrate the new partnership.

Integrating Transfermate with SAP’s payment processes provides a better way to pay invoices through an end-to-end global B2B payments network that enables cost effective, faster, and fully transparent cross-border payments.

Customers will no longer be disadvantaged by non-transparent correspondent banking systems, including unexpected wire and intermediary banking fees and uncertain transfer timelines.

‘Partnering with delaware is a huge leap forward for the entire SAP ecosystem’ said Sinead Fitzmaurice, CEO of TransferMate. ‘They have exceptional knowledge of how their clients are leveraging SAP and will now be able provide a complete end-to-end solution. Their customers will not need to leave their SAP platform to complete their payments. We’ll immediately increase the value of their investment in SAP while simultaneously reducing costs and improving working capital management.’

For more on how delaware helps clients implement and add value to the SAP platform, go here. For more on how TransferMate connects with SAP, contact us today.

In a Sentence: 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.

AUB Group in Numbers

ASX200
listed group
850,000
clients
>500
locations across Australia and New Zealand
$4bn
+ GWP (Gross Written Premium) in insurance premiums
120
subsidiary companies

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”

“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:

  1. The solution would integrate seamlessly into the SAP Concur platform
  2. The solution would be able to work at a scale required by the AUB Group, and
  3. 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.

“Even with those complexities, we finalized everything on time with the support of the TransferMate team”

“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.

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