Back to resources Back to resources

Conferma

News & insights

Westpac, SAP Concur, and Conferma introduce a virtual card-enabled invoice payment solution for Australia

In a strategic move to address Australia's escalating late payment crisis, Westpac, SAP Concur, and virtual payments innovator Conferma have launched an invoice payment solution powered by virtual cards. This collaboration aims to modernize the invoice-to-payment process, offering businesses a streamlined, secure, and automated workflow.

Westpac, SAP Concur, and Conferma introduce a virtual card-enabled invoice payment solution for Australia

The integration allows Westpac commercial customers using Concur Invoice to generate pre-authorized, one-time-use virtual cards for approved invoices. These payments are automatically matched and reconciled, eliminating manual entry, reducing fraud risk, and enhancing financial control.

This innovation comes at a critical time. According to CreditorWatch’s April 2025 Business Risk Index, business-to-business invoice payment defaults have surged by 42% in March 2025, compared to March 2024, signalling increased financial stress among Australian businesses [1]. This trend underscores the urgent need for solutions that can improve cash flow and reduce administrative burdens.

“This is about giving finance leaders modern tools to solve persistent problems,” said Jason Lalor, CEO at Conferma. “Together with SAP Concur and Westpac, we’re helping businesses digitize one of the most time-consuming parts of finance—replacing it with a solution that’s smarter, faster, and more secure.”

The solution also supports compliance with the Australian Government’s Payment Times Reporting Scheme [2], ensuring prompt and trackable supplier payments. Industries such as construction, healthcare, logistics, and professional services, where timely payments are crucial, stand to benefit significantly from this advancement.

Jeff Byrne, Westpac’s General Manager, Global Transaction Services , added: “Our customers have told us that late payments and outdated processes are real challenges. This partnership brings together the best of banking, technology, and enterprise software to help them stay ahead—improving cash flow, reducing admin, and unlocking more efficient ways to work.”

The partnership between Conferma, Westpac and SAP Concur brings together invoice automation, virtual card capabilities and banking insight to deliver the best of finance and technology innovations to reshape how Australian businesses pay suppliers.

For more information on streamlining your invoice payments with Conferma, Westpac and SAP Concur, visit www.conferma.com.

 

[1] CreditorWatch, Business Risk Index March 2015, https://creditorwatch.com.au/blog/b2b-payment-defaults-42-higher-than-a-year-ago-as-cost-pressures-mount-trump-trade-war-effects-looming

[2] Australian Government, Payment Times Reporting Scheme, www.paymenttimes.gov.au