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But the largest venture capital funding round went to an accountspayable automation firm in the U.S. TravelExpenseManagement. Corporate travel and expensemanagement startup Baoku Online, based in China, secured Series A funding , the firm said Monday (Nov. with an $18 million investment.
It marks the incubator’s quest for a second round of startups to support; its first round included Yoke Payments , which won the PYMNTS.com Best POS Innovation award last year, as well as Spend Secure LLC, which offers mobile payments, accountspayable and travelexpensemanagement solutions. “We
Six corporate travelexpensemanagement and accountspayable (AP) solution providers are combining into a single company to form Emburse , according to a press release Thursday (Jan. Abacus, Captio, Certify, Chrome River, Nexonia and Tallie are merging together to integrate each other’s T&E and AP solutions.
In B2B FinTech, spend management is a greenfield opportunity as innovators explore how to help corporates understand the nuances of how money flows out of the enterprise. A business may have one platform for their corporate card, another for AP, and another for employee travelexpensemanagement.
With corporate travel still on pause, commercial card innovation has taken a different direction. 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.
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.
That’s when six corporate travelexpensemanagement and accountspayable (AP) solution providers announced they would join forces and combine into a single company called Emburse , according to a press release.
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 accountspayable, expensemanagement, invoice automation, travel booking, mileage tracking and other tools.
” Chrome River introduced enhanced mobile capabilities of its solution last year, launching B2B invoice payment capabilities through mobile devices for accountspayable professionals. “Expensemanagement [in India] has been manual for a really, really long time,” he told PYMNTS in a recent interview.
Another B2B payments firm, WEX, recently released a whitepaper touting the v-card as not only a way to secure corporate spend on travel but for travel companies to safeguard their own payments with travel suppliers.
Specifically, Nexonia is looking at the takeover as a way to help expand its accountspayable and purchase order capabilities; Wainwright said the firm will incorporate these features into its solution following the deal. Reports said the executive is also eyeing more takeovers.
. “We’re helping our clients manage payments effectively and efficiently by removing the need for manual processes,” said BMO Financial Group Head of North American Corporate Card Products Steve Pedersen in a statement.
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