AvidXchange, a provider of accounts payable (AP) automation software and payment solutions for businesses and their suppliers, has launched a cross-border payments (CBP) feature. The embedded payment experience will be available first to Oracle NetSuite customers and accessible in AvidXchange’s newly launched SuiteApp within NetSuite’s SuiteCloud platform. 

With the AvidXchange SuiteApp, customers in the United States can pay both domestic and international suppliers without leaving NetSuite. Payments can be made from a USD bank account and currencies offered include AUD, CAD, EUR, GBP, INR, and MXN. Once cross-border vendors have been established, customers can automate exchange rate quotes for international bills and elect to process payments. 

Building upon NetSuite’s robust solution for financial services, the fully automated accounting process with CBP provides better visibility into foreign exchange fees, gains, and losses, so that customers have more control over costs and cash flow. AvidXchange allows customers to streamline resources and reduce the amount of manual work required to print paper checks and keep track of costly international wire fees. With a centralized system to handle accounting tasks, the process to pay international suppliers is also more secure.