Westal streamlines its supplier payments through Monitor ERP and Open Payments

Managing supplier payments – especially to foreign suppliers – often involves manual steps and unnecessary administrative work. For Westal, a manufacturer of lighting fixtures for professional environments, the solution was to activate Bank Integration in Monitor ERP which is a built-in seamless integration between Monitor ERP and Open Payments for managing payments. The result is a smoother payment flow, less administration, and lower costs.

Westal regularly makes payments to suppliers outside Sweden. Previously, these had to be handled manually via the bank – a process that was both time-consuming and increased the risk of errors.

“We have some foreign suppliers we make payments to several times a month. These payments used to be made manually at the bank, which was both time-consuming and complicated to manage,” says Tilda Alexandersson, Finance Manager at Westal.

With Bank Integration, the company can now send payments directly from Monitor ERP to the bank via Open Banking without exporting and uploading payment files manually. At the same time, both Swedish and foreign payments can be handled in the same procedure.

“Instead of doing this manually in the bank, it is now just as easy to make payments in foreign currency as it is to make regular payments to our Swedish suppliers. In the payment procedure, you can handle both Swedish and foreign payments in the same way which means you don’t need to have two different procedures,” says Tilda.

The simplified process has both reduced administration and made the work more efficient.
“It has both lowered our costs and improved efficiency.”

Through the integration, Westal receives feedback directly in Monitor ERP if something needs to be adjusted before the payment is sent to the bank.

“We save a lot of time by not having to save payment files, log in to the bank, and upload the files manually. Now, you can see any warnings directly in Monitor and send the payment to the bank once it’s been approved.”

Even though Westal doesn’t make a large number of international payments each month, the difference is noticeable.

“We have definitely noticed that exchange rates and transaction fees are lower than before. And the biggest advantage is that we save so much time. The payment process has been made much more efficient,” concludes Tilda.