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As such, they can struggle to organize flight bookings, handle payments, manage trip expense records and more. The February Workforce SpendManagement Tracker , a collaboration with PEX , tracks how solution providers are seeking to bridge this gap to meet the business travelexpensemanagement needs of SMBs and freelancers.
In B2B FinTech, spendmanagement is a greenfield opportunity as innovators explore how to help corporates understand the nuances of how money flows out of the enterprise. Historically, said Airbase CEO Thejo Kote, finance and accounting teams have been forced to work around the friction of a fragmented spend ecosystem.
An announcement by the companies Thursday (July 26) revealed news that Apptricity is integrating WEX’s corporate payment solutions into its own offering of automated supply chain, travel and expense (T&E) and spendmanagement solutions. “We
According to a press release , Yatra will link customers based outside of India — whose employees travel in the country — with Chrome River’s expensemanagement solution as part of a broader travel booking and spendmanagement platform, offered via Yatra’s Self Book platform.
Analyzing the dollars and cents associated with business trips is now a fundamental part of an organization’s travel and expense (T&E) strategy to ensure that it can squeeze every penny in added revenues and profits out of each trip. It’s not an easy feat, however. Accessing Data.
While corporate travel is the second-largest controllable expense category for a corporation, noncompliant travel procurement and rogue spend can derail spendmanagement in the space. CSI will provide its electronic AP tool, while Cambridge facilitates the payment to settle global B2B payments.
Both are slowly infiltrating the business traveler’s life, whether by businesses adding on-demand services, like Airbnb, to their list of approved travel vendors or by travelmanagers and accounting professionals making the switch to pay those vendors with a virtual card.
In an interview with PYMNTS last year, the executive said that prepaid meets the massive demand of spendmanagement solutions today: “The need for real-time accounting, real-time visibility of transactions and balances and the ability to restrict spending and access to cash.”. Industry Shakeup.
But these popular apps, which started as consumer-facing tools but have each made recent steps to embrace business travelers , don’t paint the entire picture of ground transportation for the corporate world, said Tobi Mac, founder and CEO of FlitWays Technology , and complexity in this space can make spendmanagement increasingly difficult.
The benefits of automation are undeniable, including the efficiencies that come from integrating accounting, human resources and other corporate systems. In 2017, we’ll see demand grow for automation technology that virtually eliminates the need for human intervention in processing expense reports and receipt data.
A cloud-based application will be integrated with VAI’s existing S2K Enterprise platform, which supports data integration and visibility into company expenses. SAP Concur’s solutions include accounts payable, expensemanagement, invoice automation, travel booking, mileage tracking and other tools.
LateRooms.com Business recently struck a partnership with Diners Club to link SMB its hotel travel booking solution customers with virtual card capabilities.
To address the issue for companies booking accommodations, LateRooms.com Business recently announced a partnership with Diners Club , launching its Business Statement Account to consolidate businesses’ travelspend on a single virtual card program. Most of the surveyed business travel buyers in the U.S.
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