TrustRadius Insights
PayEm is a SaaS solution that has managed to solve several business problems related to expense and vendor management. Users have praised …
Overview
What is PayEm?
PayEm is a comprehensive finance operating system designed to streamline and automate finance-related processes for businesses of all sizes. According to the vendor, this platform connects finance and procurement teams, providing control, transparency, and efficiency in managing company spend. PayEm...
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What is PayEm?
PayEm’s global spend and procurement platform was created to meet the needs of global finance teams.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Alternatives Pricing
What is SAP Concur?
SAP Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration.
What is Expensify?
Expensify automates the entire spend management process. Scan receipts, track mileage, submit and approve expenses, manage corporate cards, reimburse employees, pay bills, send invoices, and book travel. Built for individuals and companies of all sizes, anywhere in the world.
Product Details
- About
- Competitors
- Tech Details
What is PayEm?
PayEm is a comprehensive finance operating system designed to streamline and automate finance-related processes for businesses of all sizes. According to the vendor, this platform connects finance and procurement teams, providing control, transparency, and efficiency in managing company spend. PayEm caters to finance professionals, procurement professionals, controllers, accounting managers, CEOs/CFOs, VPs of Finance and Procurement, as well as employees across various industries such as technology, manufacturing, retail, professional services, and healthcare.
Key Features
Customizable Request Forms: Administrators can easily create and configure request forms without requiring assistance from PayEm's team. These forms incorporate conditional logic to adapt to specific needs and offer a user-friendly experience.
Automated Approval Workflows: Users can create approval workflows without IT involvement. These workflows can be customized based on amounts, subsidiaries, and stakeholders to expedite approval times.
Agile Communication: PayEm integrates with communication platforms like Slack and email, enabling request tracking and approval without directly accessing the platform. Employees can quickly and compliantly make requests and approvals without the need to log in.
One Comprehensive Platform: All requests and approvals are consolidated within a single platform, facilitating discussions, document sharing, and creating an audit log for transparency and compliance.
Enhanced Transparency: Real-time updates and clear overviews of request statuses minimize the need for follow-up inquiries and enhance transparency for all stakeholders.
Virtual and Physical Cards: PayEm offers corporate cards for instant issuance, control, receipt management, budgeting, and security. Streamlined processes, automated invoicing, and ERP integration complement these cards.
Budget Control: PayEm provides a user-friendly solution that empowers budget owners with real-time visibility for effective budget management. Users can access a comprehensive view of all spend data, including off-platform expenses, and stay on top of in-process requests.
Reconciliation: PayEm's automated reconciliation capabilities aim to reconcile payments in minutes. Users can export reconciled transactions and directly upload them to their ERP, facilitating faster book closures.
AP Automation: PayEm utilizes AI-assisted OCR technology for invoice processing, streamlining processes, saving time, and improving accuracy through automated approval workflows and instant sync with the ERP.
Spend Management: PayEm enables users to automate and manage vendors and subscriptions within a unified platform. Users can schedule payments, transfer funds, and set limits for each vendor while maintaining real-time visibility and control.
PayEm Competitors
PayEm Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
Comparisons
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Reviews
Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Recommendations
PayEm is a SaaS solution that has managed to solve several business problems related to expense and vendor management. Users have praised the platform for its ability to track payments, allocate expenses accurately, and provide total control over budgets. The platform's integration with ERP systems has notably reduced accounting workloads, enabled faster reconciliation of accounts, and provided better financial control.
The product has been particularly useful in solving the problem of tracking payments for SaaS products and creating virtual credit cards, allowing users to know where every dollar is spent, stay on budget, and avoid the need for petty cash. The product also eliminates the need for expense reports or receipts while providing complete control and visibility of expenses. Additionally, it allows users to distribute virtual credit cards to employees or vendors and easily set limits, providing control over expenses and precise project efficiency. Overall, PayEm has made the process of managing employee and vendor expenses more efficient by streamlining expense requests and approvals, providing visibility into spending patterns, and enabling total control over budgets.
Users commonly recommend PayEm for the following reasons:
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PayEm offers a convenient and efficient way for employees to request funds, streamlining the expense management process.
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Users highly recommend PayEm for complete control over credit card spending. It allows companies to effectively manage budgets and expenses.
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PayEm is praised for its user-friendly interface and professional support. Users find the platform easy to navigate and value the assistance provided by the support team.
These recommendations highlight how PayEm improves efficiency, increases control over spending, and provides a positive user experience with its intuitive interface and helpful support.