NATIONAL HARBOR, Md., May 31, 2023 /PRNewswire/ -- Gartner CFO Conference -- Today Mesh Payments announced expansion of its unified spend management platform to support global multinational businesses operating in Europe, UK, and Asia in local currencies. Mesh now enables companies to operate globally across international entities, issue local cards and settle in local currencies all from one unified platform.
The global expansion comes after 3X growth in 1H 2023, new product capabilities to help companies save money and increase finance team productivity, and competitive customer wins across technology and financial services sectors, including Fortune 100 companies.
Globalization and remote working trends have led to an increase in complex multinational structures and distributed workforces. Unlike Mesh, most spend management platforms have yet to address the needs of companies with international entities. Automating manual tasks, receipt collection, and spend workflows with a unified spend management solution across multiple entities accelerates productivity of finance teams by more than 30%.
"As the industry leader in mobile and marketing measurement solutions, it's critical for AppsFlyer to take any friction out of the back office so we can keep the focus on serving our thousands of customers worldwide," said Yuval Levinson, VP Finance of San Francisco-based AppsFlyer. "Spend management across multiple international entities can be challenging for accounting, specifically to maintain a high level of internal control. With Mesh, we are able to eliminate all our manual and time-consuming processes around international subsidiary spend management and focus on our strategic finance operations."
Mesh unified dashboards summarize activity across all entities and automatically sync all transaction details to the associated general ledger. Other specific global capabilities include:
Localized operations, local currency — Manage spend by provisioning cards in local currency, including EU countries, the UK, Singapore, and Hong Kong with embedded policy enforcement for enhanced control for entity, individual, and business unit transactions.
ERP integrations — Automatically code and post transactions to local instances of the ERP by leveraging robust ERP integrations.
Global compliance — Local compliance, with the ability to itemize VAT and taxation across all entities. Subsidiary-level tax compliance and reporting capabilities. Receipt matching automation and itemization compliant with direct integrations for leading ERP and HRIS systems.
Localized and embedded policy enforcement — The ability to set and enforce local spend policies and rules happens before any transaction is made.
Fund reimbursement locally — Entities can fund reimbursements from local bank accounts for employees in local currency.
"Managing spend for remote workforces and global operations can be complex, but Mesh offers a unified platform for global enterprises to handle local operations in local currency at scale," said Oded Zehavi, co-founder and CEO, Mesh Payments. "Mesh Payments is thrilled to help businesses increase their finance efficiency and solve the pain points of global spend."
With precise controls, embedded spend policies, reporting on every transaction, and the most robust ERP integrations available, Mesh increases finance team productivity, steers spend decision-making, and helps companies save money.
Learn more about Mesh Payments for global companies by visiting www.meshpayments.com/global.
About Mesh Payments
Mesh is the fastest-growing spend management platform in the US and uniquely meets the needs of distributed workforces and multi-entity companies. Finance teams rely on Mesh to power global spend, automate manual accounting tasks, and optimize finance workflows.
Mesh was named to the CB Insights Fintech 250 and powers some of the world's fastest-growing brands, including Monday.com, Hippo Insurance, Sezzle, and Snyk. Mesh is headquartered in New York and venture-backed by Alpha Wave, Tiger Management Global and others. For more information, visit www.meshpayments.com or follow on LinkedIn.
SOURCE Mesh Payments