May 18, 2022

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FourQ Debuts Partnership | PYMNTS.com

FourQ has rolled out a partner program intended for tech providers, consulting firms and professional services firms for tax, billing and vendor payments solutions to help with intercompany financial management, a Tuesday (June 15) press release said.

The release said the program will do away with the complexities involved with conducting global business. FourQ processes more than $34 billion annually in 110 countries working on automated intercompany processing.

The FourQ program will work with four distinct channels.

Those include technology partners, offering services like eInvoicing for financial close and automation services; managed service and BPO partners looking to outsource back-office practices; consulting and professional services partners which have an abundance of knowledge in tax, financial advisory, process controls and industry expertise; and referral partners which work to educate people who are managing intercompany risk and financial management.

“Corporations operating across various tax jurisdictions with multiple ERP systems are burdened with intercompany complexity and overhead,” explained May Ma, vice president of Transformation at FourQ. “There is a tremendous opportunity to address the challenges that multinational corporations are facing through our new FourQ partner program. Collaboration with strategic technology and consulting partners will enable us to seamlessly deliver innovative and interoperable solutions at scale.”

FourQ’s program consists of integrated solutions like Paymaster, which gives universal invoice management, and OneBiller, which automates intercompany accounting for billing and tax optimization.

Trullion Co-founder and CEO Isaac Heller, who spoke with PYMNTS recently, said corporate finance is in need of tech to help link various workflows and professionals together, which could be done through technology that can work with both structured and unstructured data. Trullion’s tech was originally put together to automate data automatically from systems, email messages and other sources as well as automate complex workflows using that data.

Now, the functions of accountants and auditors will keep growing as more complicated requirements and industry standards pop up.

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About The Study: The AI In Focus: The Bank Technology Roadmap is a research and interview-based report examining how banks are using artificial intelligence and other advanced computational systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing AI’s potential in finance, healthcare and other sectors.