The practice of law has become a global industry, law firms of all sizes are looking to make the process of foreign associate payments secure, easier and more efficient. Cambridge Mercantile understands the bottom-line impact of managing foreign exchange fluctuations and the importance that proper invoice processing, beneficiary maintenance, data integration, reporting and payment processing. Cambridge Mercantile Group plays a vital role for our law firm partners in delivering the very best in technology, integrated solutions, bill and invoice processing with service levels that are second to none. Cambridge has seasoned and experienced resources, delivering personalized service and support with law firms and the legal industry; we will help navigate your firm through the core activities and procedures utilizing our industry best practice model to ensure cost reduction and streamlined payment processing.
Our portfolio of services includes:
- International Payments.
- Risk Management and Hedging Solutions.
- Foreign Currency Check Clearing Services.
- Accounts Payable Outsourcing.
- Holding Balances.
Whether you’re an international law firm with offices around the world, you specialize in patent applications, trademark protection, or simply manage payments to foreign associates you can find international payment processing to be problematic, time consuming and costly. Cambridge prides itself on providing the best service in the industry, leveraging our core competencies and delivering a differentiated offering to the marketplace, for a number of reasons:
- Training and development of staff with expertise.
- Investment in systems and technology to offer a competitive online solution.
- Worldwide compliance and regulatory changes.
- SWIFT membership and correspondent banking relationships.
- Award winning operational infrastructure and experience.
At Cambridge Mercantile Group we provide law firms state-of-the-art technology, integrated payment processing, risk management strategies and cost efficiencies related to domestic and international payments. As a global partner Cambridge Mercantile works behind the scenes to guarantee a seamless workflow, while eliminating the risk associated with foreign exchange market movements. Allow our systems, our global network, our experience and most importantly our team of dedicated individuals to eliminate the complexities of international payment processing while maximizing your firm’s bottom-line.
At the core of our offering is a complete range of innovated solutions with enhanced system functionalities for the legal industry ensuring your firm streamlined and efficient global payment processing:
- Accounts payable outsourcing.
- Future payments.
- Accounting package integration.
- Dedicated account management team.
- In-country payment processing using IACH.
- Annual business reviews.
- Invoice imagining.
- Invoice and beneficiary data integrity and validation.
- Onsite training and implementation.
Utilizing the next generation in international payment processing, Cambridge Online streamlines your foreign associate payment processes. Our online solution is as Easy as 1-2-3, simply Click..Book..and Settle. Cambridge Online offers a wide variety of differentiated features that allows law firms and its associates control and flexibility:
- A state of the art international payments platform.
- Automatic beneficiary notification.
- Self-administration user rights.
- Retrieve SWIFT copies and review wire status through an online dashboard.
- Full front to back end system integration, as well as Reuters and SWIFT integration.
- Online and offline payments incorporated into historical.
- Multi-level approval models.
- Forward and future payment drawn down capabilities online.
- Email beneficiary notification.
- Global banking directory lookup and IBAN validation.
- Attach documents such as an invoice to your payment records.
- Customized reporting and file integration with full reconciliation processing.