“Medius’ cloud-based spend management solutions are helping organizations drive their business forward with increased process efficiency, cost saving opportunities and greater financial control."
LOS ANGELES (PRWEB) March 16, 2021
FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, today announced that Medius, a leading provider of cloud-based spend management solutions, has been selected as winner of the “Best Procure-to-Pay Software” award in the fifth annual FinTech Breakthrough Awards program, recognizing the Medius Spend Management suite.
Medius Spend Management is a modular suite that provides complete source-to-pay functionality, including supplier management and analytics, that fits the needs of both procurement and finance. Medius Spend Management also helps organizations limit high invoice processing costs, late payments and exposure to fraudulent spend and risk that can damage business reputation.
By streamlining and accelerating the purchasing cycle, Medius Spend Management boosts efficiency and reduces operational costs, giving businesses a quick and easy way to buy goods and services with the right supplier at the right price. This enables procurement teams to eliminate maverick spend, budget overspend, and recoup more time to work on strategic initiatives instead of policing the organization. Additionally, Medius Spend Management takes care of all back-end processing – from splitting costs between different codes, approvals and purchasing process management, to touchless invoice processing and streamlining supplier payments all with a single user interface.
“With Medius, procurement and finance professionals can more easily manage spend and collaborate more effectively to see improved cash flow,” said James Johnson, managing director, FinTech Breakthrough. “Medius’ cloud-based spend management solutions are helping organizations drive their business forward with increased process efficiency, cost saving opportunities and greater financial control. We are thrilled to name Medius as winner of our ‘Best Procure-to-Pay Software’ award and we extend our congratulations to everyone at Medius for this truly breakthrough solution.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2021 FinTech Breakthrough Award program attracted more than 3,850 nominations from across the globe.
“In today’s increasingly global modern business landscape with remote teams and distributed workforce, spend management in more critical than ever,” said Shannon Kreps, vice president of product marketing and communications, Medius. “Medius Spend Management brings all of a company’s procure-to-pay processes under one single and easy-to-use, automated modular platform, encouraging best practice buying and helping organizations bring ease and control to their spend management. We are thrilled to receive this recognition and award from FinTech Breakthrough and I consider it a strong testament to the hard work and dedication of entire Medius team.”
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
Medius is a leading global provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control.
Nearly 4,000 customers and 500,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $160 billion annually.
Medius was founded in 2001 and acquired procurement solution provider Wax Digital in 2019. Today, the company has over 400 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit medius.com.