JAGGAER, the global leader in enterprise procurement and supplier collaboration, announced its new partnership with Bottomline to integrate the Paymode payment network and its Premium ACH offering along with virtual card and other payment modalities, into JAGGAER’s B2B payment solution, JAGGAER Pay.
“Automated payments are one of the cornerstones of JAGGAER’s source-to-pay strategy,” said Dawn Andre, JAGGAER’s Chief Product Officer. “Expanding our natively integrated partner offerings to include best-in-class solutions like Paymode elevates the value of the entire JAGGAER One solution. Leveraging two of the industry’s most valuable procurement and payment solutions provides significant value to organizations looking to optimize their source-to-pay strategy.”
Traditional payment methods are inefficient, prone to fraud, and fail to capture rebate opportunities. JAGGAER Pay, bolstered by the Paymode business payments network, addresses these challenges by significantly reducing the manual and repetitive tasks that AP teams typically handle throughout the invoice lifecycle. This optimization streamlines the entire payment process and enhances cash flow management. With end-to-end automation—from supplier onboarding and invoicing to payment execution—JAGGAER’s platform transforms the AP process, leveraging business process automation and seamless platform integrations for B2B payments.
Paymode utilizes over 300 data points to validate suppliers and prevent fraud, including common vectors such as business email compromise. Additionally, network suppliers can choose to accept virtual cards and Premium ACH, providing payers with maximum rebate opportunities.
“The JAGGAER and Bottomline partnership is truly a great fit,” said Gunita Bindra, VP of Partnership Strategy, Paymode at Bottomline. “Adding an embedded payments partner like JAGGAER helps fuel the network’s growth beyond the 550,000+ members today and expands those connections that bring suppliers and buyers together. Our embedded solution in JAGGAER Pay provides buyers and suppliers with a seamless experience that meets them where they are today and where they are headed in the future. It’s a secure way for businesses to automate their payables process and enhance their supplier relationships.”
Beyond the benefits to JAGGAER Pay customers, the Paymode network brings significant benefits to suppliers. By accepting more payments digitally, suppliers enjoy a reduced risk of financial fraud, enhanced reporting, and lowered overall acceptance costs. JAGGAER Pay is a natural extension of JAGGAER’s comprehensive source-to-pay solution suite. “We are excited to be able to say JAGGAER Pay puts the pay in procure-to-pay,” Andre concluded.
The partnership between JAGGAER and Bottomline marks a transformative step towards simplifying payment processes and leveraging payments as a strategic advantage. By combining JAGGAER’s procurement expertise with Bottomline’s Paymode network, businesses can look forward to a future where managing payments is seamless and strategic.
SOURCE: BusinessWire