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This week's Commercial Card Innovation Tracker finds Barclaycard and Visa among the latest to embrace v-cards to elevate employee spend management and supplier payments. Barclaycard Debuts V-Card For ExpenseManagement. Dubbed Precisionpay Go, the new Visa-powered solution supports digital spend management for U.K.
When the B2B payments industry began considering what to expect for 2018, commercial cards weren’t often on the radar. Cards are still expected to account for only a minor fraction of B2B payments volume in accountspayable by the end of the year, after all, with ACH gaining traction as the go-to ePayments rail for corporate payers.
Corporate spend management company Edenred is launching a new solution to help businesses gain greater visibility of their cash flow. The accountspayable (AP) tool will also offer a platform through which businesses can manage their cash flow and gain visibility into transactions.
Though 2020 was full of volatility, the B2B FinTech landscape persevered with venture capitalists and other investors for a lucrative year. Highlighting the increasing interest in this startup space is this week's B2B venture capital roundup, which recaps the final two weeks of 2020 in B2B FinTech investments. Deliveristo.
Digital B2B payments innovations as diverse as machine learning (ML) automation, cloud-based enterprise resource planning (ERP) systems and virtual cards are gaining unprecedented traction as businesses move to build sustainable B2B payments operations outside of th e office. Around The B2B Payments For The Virtual Workforce World.
Cloud software company Blackbaud is rolling out purchasing cards and expensemanagement services for its corporate customers, the company said Tuesday (Feb. Blackbaud Purchase Cards are designed for “social good organizations” to digitize their accountspayable processes and enhance spend management for employees.
We’re covering two weeks’ worth of B2B venture capital funding, and across the board, India has come out on top. But the largest venture capital funding round went to an accountspayable automation firm in the U.S. But the largest venture capital funding round went to an accountspayable automation firm in the U.S.
Australian cloud expense and software provider expensemanager has partnered with Sage Intacct to offer cloud expertise and invoice management on the latter company's Intacct Marketplace, a press release says.
million was placed with B2B FinTechs this week. landed on the board, too, as alternative lending, small business banking, back-office financial management and accounts receivable technology enticed backers. In the waning days of summer, venture capitalists appear to be in a lull: only $51.2
CSI Kick Start, a FinTech incubator operated by corporate payments company CSI globalVCard, said it has officially kicked off its second year of searching out B2B payments innovators. The company said Thursday (Jan.
Some of the largest points of friction in B2B payments today boil down to fragmentation and data silos: Traditionally, there is separation between a process (i.e., There are silos between various platforms like accountspayable, accounts receivable, procurement and treasury management. The Next Steps.
Commercial card innovation continues to make big waves in the accountspayable (AP) department, as corporates and card issuers alike explore new ways to drive business spend on cards beyond business trips or ad-hoc purchases. This wasn’t the only initiative in the B2B payments space that American Express has announced this month.
Equity investments reigned this week, thanks to backing for accountspayable (AP) automation firm MineralTree and treasury management company Kyriba , but it was the logistics market that saw the largest venture capital round — and secured another unicorn for the B2B startup space. MineralTree. Existing backers.406
AccountsPayable (AP), in particular, has become ground zero as liquidity and cash flow become even more indispensable. 52% of AP teams plan to adopt or invest more in automation this year, seeing the opportunity to increase productivity, better manage cash flow and reduce risk, among other benefits.
Today in B2B payments, Citi announces its news Treasury and Trade Solutions (TTS) head, while Rho lands new funding and adds accountspayable to its business banking technology. Plus, Medius collaborates on invoice management, TravelPerk acquires NexTravel, and Sweep lands funding for T&E tools. 13) announcement.
Corporate expensemanagement solution provider Divvy is expanding its product offering with the introduction of Bill Pay, announced Thursday (Sept. Bill Pay, paired with the rest of the Divvy platform, offers financial leaders a single source for all their spend and expensemanagement needs.”.
A summer lull in B2B venture capital appears to have given way to an impressive start to the fall season. This week, two massive deals landed with B2B payments innovators at Fundbox and Tipalti, but they were far from the only players to have secured new funding. said this week.
Emburse , whose innovative travel and expense solutions power forward-thinking organizations, has announced a strategic relationship with Finexio , the fast-growing accountspayable (AP) payments as a service company.
Commercial cards continue to explore more use cases to optimize spend for businesses, from accountspayable (AP) to employee travel and expensemanagement. Event managers are responsible for managing team members’ expenses, reconciling transactions and keeping receipts, she said.
Amadeus B2B Wallet Expands Functionality. In another initiative gearing up for the return of corporate travel, travel management platform Amadeus has announced that its payment offering, the Amadeus B2B Wallet, is now able to automatically generate virtual cards through a partnership with Troovo , PYMTNS reported.
With $68 million in combined venture capital funding, this week’s B2B FinTech investments are certainly not the highest they’ve been, but considering the current market, the latest rounds remain impressive nonetheless. With $22 million in Series B funding , B2B FinTech Digits is ready for its debut. Material Bank.
India-based accountspayable automation company Finly has announced new funding as it plans to expand its B2B product offering, reports in YourStory said Monday (Dec. We believe the team has built a fantastic SaaS product for the global market,” said Adith Podhar, Gemba Capital managing partner.
UMB Financial Corporation is teaming up with Bottomline Technologies to integrate an accountspayablemanagement offering for corporate customers. based Fraedom, integrating its corporate payments, commercial card and expensemanagement solutions for business customers.
Levvel has announced plans to acquire PayStream Advisors in a bid to boost its B2B payments expertise, the firm said. In a statement, Levvel Payment Practice Lead Scott Harkey said the deal will help the advisory group gain stronger footing in the B2B payments space.
Proactis , a U.K.-based based eCommerce firm, is hoping its new bePayd service will help invoices get paid faster, particularly in the trying times of the coronavirus pandemic, according to a press release. The new service will allow invoice payments to go through almost immediately.
On the surface, investors were quite varied this week when it came to backing B2B startups. With more than $95 million in financing placed, startups across eProcurement, cybersecurity, logistics, alternative finance, blockchain and supply chain management secured support. PYMNTS breaks down the deals below. eProcurement. Logistics.
Not so on the B2B side of payments, where payments between trading partners remain dominated by the 20th-century’s favorite payment method — where, staggeringly, 50 percent of all payments between business are made by check. Building a B2B Payments Hub. Mastercard’s Head of Global Commercial Product Development Richard Crum asked.
After all, money exits a company through more than one avenue, whether it be via the accountspayable department or a firm’s own employees. Traditionally, different categories of business spending, including employee expenses, supplier payments, payroll and others, have been tackled separately.
Expensemanagement technology provider Medius and international eDocument service company Pagero have collaborated to help companies handle digital invoices. Medius has long provided companies with technologies related to the accountspayable (AP) workflow. 13) announcement.
The corporate expensemanagement market doesn’t look like it once did. The commercial card and expensemanagement market is yet another space in which collaboration between FIs and FinTechs has proved key to driving innovative tools – especially as corporates grow weary with the traditional legacy services their banks provide.
Accountspayable (AP) automation software firm Beanworks has rolled out a function for expense reimbursements to assist companies in automating how they get and handle staffer expenditures, according to an announcement. Supervisors can look over receipts and give the go-ahead for reimbursements from anywhere.
With FinTech innovators finally starting to give B2B solutions the attention they have longed for, there are now troves of platforms companies can access, from expensemanagement to cash flow forecasting to supplier management. AvidXchange and Vroozi are only the latest B2B FinTech companies to collaborate.
Expensemanagement and accountspayable (AP) automation solution provider Emburse is rolling out new card solutions designed to help organizations manage their travel spend. From a mobile app to beefed-up rewards, the latest solutions are embracing the shift of spend to the card. Emburse Debuts T&E Cards.
With innovations introducing virtual card technology and data analytics into the fold, the commercial card space is positioning itself to address some of the emerging challenges of business payments in accountspayable and beyond. Payroll company ADP recently estimated that as much as 80 percent of U.S.
Corporate spend management firm Coupa has wrapped up its Inspire 2016 conference, with no shortage of announcements for the company. Earlier this week, the firm revealed an integration with corporate travel booking platform Sabre, streamlining the expensemanagement process following business trip planning.
The timeliness of B2B payments raises the stakes for all parties involved, as a missed or delayed payment can ripple across the network. A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR).
Corporate expensemanagement firm Chrome River is enhancing its invoice B2B payment capabilities, the company said Tuesday (Nov. The tool is designed for accountspayable (AP) and professionals that manage and approve invoices for payment.
Corporate expensemanagement firm Chrome River is collaborating with India-based travel company Yatra , the companies announced on Monday (May 14). Rich added, “In addition to the need for increased control and visibility into spend, companies are looking for expense reporting solutions, which work across any mobile platform. .”
The company also has a expensemanagement tool that allows founders of upstarts to make sense of their company spending and changes their capital flows. The Freedom Card also on-boards users to the EnKash platform to automate accountspayable and accounts receivable operations per reports.
Visa has teamed up with business expensemanagement firm Payment Logic to support the use of commercial cards in accountspayable for Australian businesses. Reports in IT Wire on Monday (Oct. The tool is designed to enable SMBs to pay their vendors with commercial cards, even if that vendor does not accept them. “In
As far as B2B FinTech goes, much attention has been paid to empowering a range of processes, including accountspayable, expensemanagement and financial analysis — many of which had previously been a part of the Enterprise Resource Planning (ERP) solution.
Bank has teamed up with accountspayable automation firm Inworks to streamline business-to-business payments within the healthcare sector. In a press release on Monday (June 24), the firms said their tie-up will connect hospitals and other companies in the healthcare services space with B2B payments and other financial services.
This week’s look at the latest initiatives explores how FinTechs are wielding the corporate card in ways other than business trips, from accessing credit for accountspayable to financing employee lunches. Nium Uses Cards For Credit. Swile Lands VC For Corporate Meal Card.
Investor confidence largely stems from AppZen’s ability to secure large enterprise clients, a feat Kale recently told PYMNTS is only possible by going in and identifying ongoing instances of fraud or misspend in corporates’ expensemanagement processes. “We The challenge is to apply it in a way that solves a specific problem.”.
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