Mesh Payments has announced the integration of its global card and spend management solution with NetSuite OneWorld, an enterprise resource planning (ERP) solution for multi-subsidiary management.
This integration enhances global spend management by streamlining intercompany transfers and syncing transactions across multiple entities, Mesh Payments said in a Tuesday (Feb. 27) press release.
“Our integration with NetSuite OneWorld supports businesses in their local and international operations, providing real-time insights and unmatched control over their expenses,” Oded Zehavi, CEO and co-founder of Mesh Payments, said in the release.
The Mesh NetSuite integration eliminates the pain of multi-entity bookkeeping and intercompany transfers while enabling seamless recording of transactions across entities and regions, Zehavi added in the release.
The integration helps multi-subsidiary companies manage global expenses across currencies and tax jurisdictions; ensure compliance and global sync; and meet the requirements of multi-entity corporations in Europe, the United Kingdom and the Asia-Pacific (APAC) region, with or without operations in the United States, according to the release.
MRI Software, a provider of real estate software solutions, is one of the global companies that have already implemented the integration, per the release.
“The integration between Mesh and NetSuite OneWorld goes beyond simplifying transactions between our entities,” Aaron Crow, assistant controller at MRI Software, said in the release. “It also provides us with real-time insights and control across our global operations while reducing manual adjustments and increasing automation.”
Global multinational businesses want a single provider to help service all their payment needs across the territories in which they operate, Zehavi told PYMNTS in an interview posted in May 2023.
Mesh Payments aims to support these firms by more fully automating manual tasks tied to spend management, issuing local currency cards and helping support transaction settlement in local currencies.
“Global payments are complex and require a deep understanding of both the local capabilities when it comes to transactions and also the global implications of B2B payment. And that’s where we’ve been investing our efforts,” Zehavi said at the time.
In another recent development, Mesh Payments said in August that it has launched a travel management solution that provides travel, payment and expense management for global enterprises.
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