Mesh Payments Expands Global Platform to Europe, UK, and Asia for Multinational Enterprises
Mesh Payments, a spend management platform, has expanded its services to Europe, UK, and Asia, allowing multinational companies to manage spend in local currencies from a single platform. The expansion follows 3X growth in 1H 2023 and includes new capabilities for localized operations, ERP integrations, global compliance, and policy enforcement.
NEW YORK — Gartner CFO Conference, National Harbor, MD — May 31, 2023 — Mesh Payments today announced the expansion of its unified spend management platform to support global multinational businesses operating in Europe, the UK, and Asia in local currencies. With this move, Mesh enables companies to operate across international entities, issue local cards, and settle transactions in local currencies—all from a single unified platform.
The global expansion follows a 3X growth in the first half of 2023, the introduction of new product capabilities aimed at helping companies reduce costs and boost finance team productivity, and competitive customer wins across the technology and financial services sectors, including Fortune 100 companies.
Globalization and remote working trends have driven an increase in complex multinational structures and distributed workforces. Unlike Mesh, most spend management platforms have yet to address the needs of companies with international entities. By automating manual tasks, receipt collection, and spend workflows through a unified solution across multiple entities, Mesh accelerates finance team productivity by more than 30%.
“As the industry leader in mobile and marketing measurement solutions, it's critical for AppsFlyer to take any friction out of the back office so we can keep the focus on serving our thousands of customers worldwide,” said Yuval Levinson, VP Finance of San Francisco-based AppsFlyer. “Spend management across multiple international entities can be challenging for accounting, specifically to maintain a high level of internal control. With Mesh, we are able to eliminate all our manual and time-consuming processes around international subsidiary spend management and focus on our strategic finance operations.”
Mesh's unified dashboards summarize activity across all entities and automatically sync transaction details to the associated general ledger. Other specific global capabilities include:
Localized Operations, Local Currency
Manage spend by provisioning cards in local currency, including EU countries, the UK, Singapore, and Hong Kong, with embedded policy enforcement for enhanced control over entity, individual, and business unit transactions.
ERP Integrations
Automatically code and post transactions to local instances of the ERP by leveraging robust ERP integrations.
Global Compliance
Local compliance with the ability to itemize VAT and taxation across all entities. Subsidiary-level tax compliance and reporting capabilities, along with receipt matching automation and itemization compliant with direct integrations for leading ERP and HRIS systems.
Localized and Embedded Policy Enforcement
The ability to set and enforce local spend policies and rules happens before any transaction is made.
Fund Reimbursement Locally
Entities can fund reimbursements from local bank accounts for employees in local currency.
“Managing spend for remote workforces and global operations can be complex, but Mesh offers a unified platform for global enterprises to handle local operations in local currency at scale,” said Oded Zehavi, co-founder and CEO of Mesh Payments. “Mesh Payments is thrilled to help businesses increase their finance efficiency and solve the pain points of global spend.”
With precise controls, embedded spend policies, reporting on every transaction, and robust ERP integrations, Mesh increases finance team productivity, steers spend decision-making, and helps companies save money.
Learn more about Mesh Payments for global companies by visiting www.meshpayments.com/global.
About Mesh
Mesh is the fastest-growing spend management platform in the US and uniquely meets the needs of distributed workforces and multinational companies. Finance teams rely on Mesh to power global spend, automate manual accounting tasks, and optimize finance workflows.
Mesh was named to the CB Insights Fintech 250 and powers some of the world's fastest-growing brands, including Monday.com, Hippo Insurance, Sezzle, and Snyk. Mesh is headquartered in New York and venture-backed by Alpha Wave, Tiger Management Global, and others. For more information, visit www.meshpayments.com or follow on LinkedIn.
