About Veem
Veem is a B2B platform that offers a payment network to facilitate users to streamline payment processes by making local and international money transfers. The software aims to level the playing field by providing enterprise-level financial tools and negotiating power to small businesses, startups, and agencies. It has audit management tools that assist users in monitoring and tracking transactions. It also supports integration with existing in-house systems, enabling organizations to minimize operations costs.
The platform allows ventures to process payments rapidly, promoting instant cash applications and automated reconciliation. Veem provides accounting teams with a centralized dashboard to gain real-time visibility into the workflow process. Automation tools help firms eliminate data entry errors in payment transactions and ensure accurate bookkeeping. It also enables firms to optimize risk management protocols and improve business operations to enhance the end-user experience.
Key benefits of Veem
- An all-in-one payment network
- Payment tracking
- Approval workflows
- Sync with QuickBooks, Xero and NetSuite Online
- Scheduled payments
- Recipient preferred method of payment updates
- Invoice Capture (OCR)
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Reviews
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Software buyers need your help! Product reviews help the rest of us make great decisions.
- Industry: Pharmaceuticals
- Company size: 10,000+ Employees
- Used Daily for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 9.0 /10
Veem for all accounting needs
Reviewed on 2023/01/21
We are enjoying with veem, as it gives a simple way to do for such a complicated things.
We are enjoying with veem, as it gives a simple way to do for such a complicated things.
Pros
Easy and user friendly interface, can accept or make a payment in any currency in any way.We can make an invoices in any currency
Cons
Reports templates of billing and invoicing can be better with good diagrams and charts for easy understanding.
- Industry: Computer Software
- Company size: 2–10 Employees
- Used Monthly for 6-12 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Likelihood to recommend 9.0 /10
Invoicing and Payments made Simple!
Reviewed on 2022/08/18
The overall experience has been good for basic use cases.
The overall experience has been good for basic use cases.
Pros
Veem is a one-stop solution if you're looking for invoicing cum payments processing software. It helps you send invoices as well as get paid in your local currency so you don't have to deal with the hassle of bank remittances and all the additional formalities that come with it. I've extensively used Veem to bill one of my clients and the experience has been good. It has all the basic use-cases covered. Although, it's limited in terms of advanced options such as taxation, GST, email customization, payment gateway integrations, etc.
Cons
There was an instance when I wanted to attach a couple of documents along with my invoice email and I was surprised to see that Veem doesn't support it at all. I think it's a very common use case where Freelancers bill their clients for additional equipment/software that they've purchased on the client's behalf and want to send the bills for it. There are also no styling/custom branding options in Veem. It also doesn't support popular gateway integrations such as Stripe, PayPal or RazorPay.
- Industry: Business Supplies & Equipment
- Company size: 2–10 Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 0.0 /10
Due to recent experience, I don't trust Veem
Reviewed on 2024/12/02
Pros
Worked OK. Did what it was supposed to do, until it didn't.
Cons
They broke their own two-factor authentication -- one day, without prior notification to us, their system was no longer capable of sending SMS messages for authentication. I could no longer sign in to our account. Many attempts at working with their customer service to fix this dragged on for a couple weeks. Meanwhile, we couldn't pay our suppliers on time, and our reputation took a hit. The problem never did get fixed. We changed to a different payment platform, which took time. And now, after several requests to cancel our account, they are still withdrawing the $19.99 monthly fee from our bank account. Infuriating!
Alternatives Considered
BILL Accounts Payable & ReceivableReasons for Switching to Veem
Total cost for handling international payments.- Industry: Entertainment
- Company size: 11–50 Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 9.0 /10
Great option for small businesses that have typical workflow and occasional need for mass pay
Reviewed on 2022/04/20
Real game changer on the mass pay of royalties, but also very helpful in week to week.
Real game changer on the mass pay of royalties, but also very helpful in week to week.
Pros
Mass Pay option is fantastic for royalty payments (we are a record label), but also for week to week regular bill pay workflow. Check option as a way to get a user in the door is helpful. Alternative to wires and wire fees a big plus.
Cons
There are times when a transaction gets flagged or held up and it is often hard to anticipate when this will happen.
Reasons for Choosing Veem
Need to expedite ever growing royalty payees each semi annual period.Reasons for Switching to Veem
Wise and Veem are very similar, but all things being equal on functionality and cost, customer service at VEEM has been nicely responsive.- Industry: Hospitality
- Company size: 2–10 Employees
- Used Daily for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Veem is a great software program
Reviewed on 2024/10/26
I've had a generally good experience with Veem, it's easy to use and simplifies processing payments...
I've had a generally good experience with Veem, it's easy to use and simplifies processing payments locally as well as globally, and I value the competitive exchange rates and cheaper costs when compared to more standard methods.
Pros
Veem simplifies payments with clients and suppliers, allowing secure and fast transactions. It also supports international payments
Cons
The primary downside of Veem is its high fees for fast transfers and instant global deposits which can be pricey for businesses that require fast transactions.
Veem FAQs
Below are some frequently asked questions for Veem.Q. What type of pricing plans does Veem offer?
Veem offers the following pricing plans:
- Starting from: US$14.99/month
- Pricing model: Free Version, Subscription
- Free Trial: Not Available
One flat platform fee for all accounts. Get access to all platform features for a flat monthly fee of $14.99 USD ($18.99 CAD). - 2 free transactions per month. Accounts will only be charged after their 2nd completed transaction. - ACH/EFT $0 send/receive - Fast Transfer 0.5% for same or next day ACH - Check (US only) $1.99 to send - Veem Wallet $0 send/receive - International wires $0 fees and competitive exchange rates - Global Credit card 2.9% - Global Debit card 1% - Global Instant deposit 1% – min. $1.50
Q. Who are the typical users of Veem?
Veem has the following typical customers:
Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does Veem support?
Veem supports the following languages:
English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Traditional Chinese
Q. Does Veem support mobile devices?
Veem supports the following devices:
Q. What other apps does Veem integrate with?
Veem integrates with the following applications:
NetSuite, Online Auction System, Plaid, Xero, Zapier
Q. What level of support does Veem offer?
Veem offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat
Related categories
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