Australian AP-AR platforms already manage the invoice, the approval and the payment run for their customers. Overseas suppliers and customers are where it gets harder.
When a customer needs to pay a supplier overseas, many platforms hand the payment to the customer’s bank. The platform gives up the FX margin, the payout fees and the float, and loses sight of what its customer is doing. Payments coming in from overseas customers cause a similar problem. The funds land somewhere else, often in a foreign currency, and someone has to convert them to AUD and match them to the right invoice in Xero, QuickBooks, Sage or NetSuite. If subscriptions are your only revenue line, a lot of money is moving through your product without earning you anything.
Some platforms do try to support it themselves, adding one provider for FX, another for payouts and a third for receiving funds. Every new currency or country then means another integration, and nobody has a single view of the money. The other route is to build it in-house, which means a licence, safeguarding, AML/KYC and banking in each corridor. That typically takes 12+ months and six to ten specialists, which is a big ask of any product roadmap.
How embedding Sokin changes this
Embedding Sokin is a different route. You integrate once, under your brand, and your customers can pay overseas suppliers and receive payments from overseas customers without leaving your platform.
Sokin’s reseller-fee mechanism lets you set and keep your own margin on every flow, so FX margin, payout fees and float sit on top of your subscription revenue. A pay run with overseas suppliers in several currencies can convert from AUD and pay out inside your workflow, at the margin you choose, instead of going through a bank transfer you never see. Multi-currency accounts, FX, payouts and incoming payments all sit behind that one integration, which gives you a single view of the money as you add currencies. Payouts reach 170+ countries in 70+ currencies¹, and batch payments of up to 5,000 recipients suit high-volume AP runs. Incoming payments land in local-currency accounts and reconcile to your accounting system, with syncs to Xero, QuickBooks, Sage and NetSuite.
If your own business is new to Sokin and registered in Australia, you may also be eligible for Zero FX Fees on your first AUD $100,000 of conversions, for three months from account activation. Other fees may apply. Offer ends on December 31st 2026. Terms and conditions apply.
A sandbox, documentation and webhooks give your engineers what they need to start, and the licensing, safeguarding and AML work stays with Sokin. You can launch in weeks, and you don't need to wait for a year-long build.
Start small and stay in control
Start with one flow, such as paying overseas suppliers from AUD, and expand from there. Your customers stay in your product and under your brand, and you keep the customer relationship and the commercial terms. If your platform doesn't offer payments
yet, you can add them through a single integration and get things up and running in weeks with Sokin.
If you lead partnerships, product, engineering or finance at an Australian AP-AR platform and want to see how this could work for your brand, request a demo. Or, email us at partnerships.apac@sokin.com.
1. Subject to, and pending, local licensing and regulatory requirements.
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