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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 spendmanagement and supplier payments. Barclaycard Debuts V-Card For ExpenseManagement. Dubbed Precisionpay Go, the new Visa-powered solution supports digital spendmanagement for U.K.
Corporate spendmanagement 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.
Given recent economic fluctuations, it’s understandable that many SMBs are looking for simple, efficient ways to better understand what is happening with their expenses. Cash flow is tight for many SMBs, and business owners need greater visibility into their cash flow to mitigate the impact of unexpected expenses.
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 spendmanagement for employees.
Speaker: Spencer Falbo, Principal at Kong Basile Consulting
For a long time, the market has offered point solutions for accountspayable, such as bill payment, expensemanagement, travel software, and corporate cards. These instruments have aided in the automation of workflows for various aspects of non-payroll spending. The implications of spendmanagement for the future.
There are many technologies that are gaining traction in this shifting environment, but virtual cards are emerging as uniquely poised to meet businesses’ need for flexible spendmanagement tools and employees’ demands for touchless payment options. About The Playbook.
This could also result in delays for customers and negatively impact a company’s bottom line, which is why new expensemanagement solutions are emerging at a rapid pace. Similarly, the SaaS-based expensemanagement market will register a CAGR of 8 percent between 2018 to 2025, with the global market size reaching $43.5
At the broader level, commercial card innovators — both within the T&E arena and elsewhere — are pressing further into the spendmanagement space, heightening the ability for businesses to control and analyze expenses as more companies tighten their belts and focus on recovery. Expensify Links Cards To Booking.
Technologists Randy Johnston and Brian Tankersley, CPA, discuss Ramp , a finance platform that uses AI and other machine learning technologies to automate AP, expensemanagement and spendmanagement. RAMP is a spendmanagement program now don’t hang up just because I’ve said spendmanagement.
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.”.
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. Nium Broadens Card-Issuing Reach. Accrualify Taps Visa For Corporate Card Offering. Now, with $10.2
Spendmanagement is among the largest challenges for small business owners, according to research. Center, a spendmanagement firm, released a report last year which found that entrepreneurs struggle to set flexible spending goals and lack real-time visibility into spend data and budgets.
Divvy, the spending and expensemanagement system, has been renamed as BILL Spend & Expense. Now, we are making it easier to access both AP and AR as well as spend and expensemanagement with a single brand and website,” the company said in a statement.
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.
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.
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.
While there may be a flurry of solutions for the enterprise to managespend across a variety of business operations — accountspayable, travel and expensemanagement or procurement — rarely do these solutions meet the spendmanagement needs for all three areas.
From a mobile app to beefed-up rewards, the latest solutions are embracing the shift of spend to the card. Expensemanagement and accountspayable (AP) automation solution provider Emburse is rolling out new card solutions designed to help organizations manage their travel spend.
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.
The big action in corporate spendmanagement is travel and entertainment (T&E), where the 800-pound gorilla has long been Software-as-a-Service (SaaS) goliath, SAP Concur. billion expensemanagement pie), a group of competitors has merged into a new company to challenge SAP’s category dominance. Follow the AI Money.
Corporate expensemanagement company Certify is stepping into the procure-to-pay arena with the launch of Certify Purchasing, announced Thursday (Jan. ” Its entrance into the procurement space follows Certify’s September acquisition of Captio , an expensemanagement solution based in Europe.
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. .”
If your firm is already providing some CAS offerings, such as expensemanagement, payroll or accountspayable, the transition to a full CAS practice might be even easier. Your practice is probably working on some of these processes internally already, so the switch to providing it as a service is not a large jump.
Introducing Payhawk, the leading spendmanagement solution for scaling businesses. Payhawk is the leading spendmanagement solution for domestic and international businesses throughout Europe, the US, and the UK. Learn more about them before meeting the team at Accountex… What do Payhawk do?
Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. At most, a manual approach to spendmanagement can attempt to uncover potential patterns: an employee that is continually breaching internal spend policy, for instance.
Corporate expensemanagement company Expensify is rolling out a commercial card product to augment its solution. Previously, the company also rolled out software to provide spendmanagement solutions for self-employed and freelance professionals in support of cash flow management and tax filing.
HR and payroll software solutions provider Paylocity has struck a deal to acquire spendmanagement platform Airbase for $325 million, the companies said in a media release on Sept. Expensemanagement: Proactively request, approve, and reconcile expenses via web or mobile app with real-time reimbursements.
Expensemanagement solutions provider Coupa is rolling out a suite of B2B payment solutions collectively known as Coupa Pay, and the firm is working with Barclaycard to boost adoption of electronic B2B payments. Two press releases issued Wednesday (Nov. “It inherently offers a twofold advantage.
Corporate spendmanagement 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.
Plus, said Jandrell, these firms increasingly require the capability to manage processes before and after purchases are made. Historically, that has meant disparate, siloed platforms for expensemanagement, contract management, accountspayable automation and more.
A corporate travel and expensemanagement solutions provider has struck a partnership with ERP software company VAI, according to an announcement on Wednesday (Aug. VAI will now link corporate customers to SAP Concur solutions, including Concur Expense, Concur Invoice and Concur Travel. million deal.
That not only limits spend visibility, explained Anthony Rotoli, CEO of procurement and spendmanagement technology provider ESM Solutions , but can expose higher education organizations like universities to risks, including fraud. “Procurement was always, ‘let’s get rid of paper,'” he said.
Expensemanagement and reporting technology firm AppZen announced a $50 million fundraise Monday (Sept. AppZen secured the Series C funding from hedge fund firm Coatue Management, with Redpoint Ventures and Lightspeed Venture Partners also participating in the funding round, VentureBeat reported.
According to Eric Christopher, CEO of spendmanagement company Zylo , only 40 percent of SaaS spend can be tracked by a company’s IT department, largely as a result of rogue SaaS procurement and unmanaged purchases. Rogue procurement isn’t limited to SaaS spend, however. A Sea of Data.
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
Mobile tools not only enable professionals to work beyond the nine-to-five world, but these capabilities provide real-time insight into corporate spend. Managers can identify and assess suspicious transactions almost immediately. In accountspayable, commercial card transactions may not account for much — yet.
Commercial card technology was a particularly bright spot of 2019, with industry giants including Visa, Mastercard and JPMorgan embracing the ability for commercial and virtual cards to step into the accountspayable department. Bank, MYOB and others.
These excursions involve not only extensive coordination, but require travelers to manage payments for everything from flights and hotels to daily meals. How employers manage their workers’ travel spending can color their relationships, too. Visibility for Insights .
A CFO’s job doesn’t become more complex as a company grows simply because the business is spending more money. Sterling Snow, vice president of marketing at corporate spendmanagement company Divvy , recently told PYMNTS that businesses (at least, the ones he works with) are hardly using checks at all.
Business expensemanagement company Teampay revealed in a press release a $12 million fundraise led by Tribe Capital, the company said this week. Teampay offers companies spendmanagement software designed to manage procurement and employee spend with a focus on the employee user experience and company policy enforcement.
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.
Suplari did not disclose exactly how it plans to use the funding, but noted its emphasis on AI-driven data analytics to enhance eProcurement spendmanagement by assessing data across systems, including commercial cards, travel and expensemanagement and accountspayable. IndustryBuying.
With the new funding, Receipt Bank said it would hire 40 new members to its staff, as well as continue to build out its underlying technology to connect to more accounting and bookkeeping professionals and their own small business customers. ExpenseManagement. based Karmic has raised $17.2 Cybersecurity. Awake Security.
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