Feature Release
May 15, 2024

Export global bills from your ERPs and pay them seamlessly with Finofo

Export your beneficiaries and global unpaid bills from your ERPs and upload them onto Finofo's platform. Effortlessly pay these bills to streamline your accounts payable process.
Export global bills from your ERPs and pay them seamlessly with Finofo

For the first time ever, Canadian SMBs can pay their global bills directly from ERP data exports using Finofo!

Yes, you read that right. We are excited to announce the launch of our new feature: Imports with Finofo!

Now, you can easily export data from your accounting platform (unpaid bills, beneficiaries, and supplier information) in a CSV file and directly import these files into your Finofo account. Finofo captures the information, allows you to review and map the fields accordingly, and initiates the imports seamlessly. Once the data is imported, you can easily pay these global bills through your Finofo multi-currency accounts.

What made us build this feature with Finofo?

Time for a short story - Let us introduce you to John, an accountant at a manufacturing company in Ontario. We discussed how the company manages their Accounts Payable processes, banking challenges, and pain points. 

Here is a snippet from our conversation:

Karthi: Is there a lot of manual work or data entry involved in using banking platforms for bill payments?

John: Definitely, yes. My team spends hours manually typing in each payment template in the banking platforms every time we need to process a bill or a payment.

Karthi: I completely understand your situation. Banks do not offer user-friendly software. But, are you not able to upload your unpaid bills from your accounting software to your banking portals?

John: This is a tricky question. It depends on the type of CSV file we have. If it’s a clean file with limited data, it’s easier to follow the bank’s template for the import. But if we have a messy CSV file with a large number of bills or beneficiaries, we’re in for a ride. And that’s not the worst part. When you upload a file and get 99 records right but just 1 wrong, the banking software throws an error. It won't tell you what the error is but won’t accept the file.

We built the Imports feature with Finofo to reduce the time spent on paying bills. Accounting and finance teams were having the worst experience with uploads, often dealing with clunky, outdated banking software that was never user-friendly.

How does this work with Finofo? 

With Finofo, you can now upload any CSV file containing beneficiary or vendor information and unpaid bills directly. Whether it’s a clean or messy CSV file or even a file with a large amount of data, Finofo effortlessly captures it all. You can edit and match columns with a preview of example data from the CSV file, ensuring seamless uploads of unpaid bills and beneficiaries.

Here's a sample import of beneficiaries:

And here's a sample import of unpaid bills:

Are you tired of manually handling this on outdated banking platforms? Get onboard with Finofo and experience a better, more intuitive, user-friendly platform.

Save time with Finofo! Open your account today!