This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Corporate travel and expensemanagement solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company's Zeno Travel tool that was already available.
One exception may be in the T&E space, in which FinTechs are introducing ways for employees to make B2B payments and integrate transaction data into expensemanagement systems, a reflection of the mobile nature of the traveling employee. The enterprise has been a bit skeptical about mobile payments.
Managing spend for organizations typically comes with a lot of paper, manual processes and headaches. Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. The Value Of Automated Analytics.
For tax and auditing purposes, using transaction data provides a more accurate data trail of where an employee is and where he or she is spending corporate funds. It’s also opened doors to new business ventures, like expensemanagement and helping its corporate clients identify potential payment fraud.
It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expensemanagement to SaaS, there was a clear theme in investment rounds: high-tech data analytics. ExpenseManagement. B2B eCommerce. as well as explore entrance into Asia, reports said.
“By eliminating the paperwork trail, InternationalXpense facilitates tax recovery and meets audit requirements, ultimately freeing up finance teams to focus on value-added activities,” said TMF Group in its announcement. Earlier this year, TMF Group launched another solution with similar goals of reducing the burden of paper.
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.
Cloud enterprise resource planning (ERP) company Acumatica has rolled out its Acumatica Advanced ExpenseManagement and Electronic Bank Feeds for its Acumatica Cloud ERP solution, which will increase automation and electronic banking, according to a press release.
In this week’s rundown, the industry landed the most funding among B2B FinTechs, though other bright spots included cybersecurity, alternative finance and a startup working to prevent firms from losing money when employees commit expense fraud. See how nearly $174 million in funding for B2B startups landed in our roundup below.
“For many businesses, reconciling B2B transactions can be challenging due to lack of robust reporting tools,” the company said in a release. Now, Mastercard said, it is providing mid- and large-sized operations with an easier way to understand and manageexpenses. The product is currently available in the U.S.,
Those drivers may support the rise in consumer mobile payments, but economic factors in the Asia-Pacific region have also opened doors for B2B mobile payments to gain traction, too. MC Payment , a startup based in Singapore, is a FinTech startup in the region that is riding the B2B mobile payments wave.
One of the easiest areas for internal fraud to occur is in employee expensing. AppZen provides a back-office solution to automate the auditing process of expense reports, using artificial intelligence (AI) technology to identify instances of fraud and error. There is a lot of unintentional waste that also happens.”.
Worse, researchers found many companies are using manual processes to audit hotel prices and to use those negotiated rates, making it more difficult for a business to identify when it’s losing out on savings. But that auditing is infrequent, with just 3 percent reporting that they audit this information every week.
A new survey from AppZen finds employees in the professional services industry, including accountants, financial advisors and lawyers, more frequently have their submitted expense reports rejected, reports in CPA Practice Advisor said Monday (Dec.
Targeting small and medium-sized businesses, Amazon Business enables companies to procure goods online, while giving B2B sellers a new platform upon which they can reach new customers – not only in Canada, but also in other markets where Amazon Business is available. The platform also supports tax exemption for qualified purchases.
They don’t have the manpower to auditexpenses, which can get out of whack, for one reason or another.” It’s that [it] had so any clients to manage, and no one had looked at the prices of software [it was] using in years.” ” The Biggest Culprits Of Waste.
Falcon Assurance Navigator integrates with companies’ existing procurement and expensemanagement systems to identify wasted spend and fraudulent transactions. The tool analyzes data from T&E expenses, purchase orders, invoices, payment requests and card spend.
Through features like Repeat Offenders and Excessive Attendee insight, we are making financial auditing and risk management processes more efficient — as much as 80 percent faster than traditional methods,” Oversight Systems CEO Patrick Taylor said in a statement. “By Foreign Corrupt Practices Act, Oversight added.
A survey released this week from AppZen showed that vertical — which is comprised, at least in part, by accountants and financial advisors, among others — have expenses rejected most often upon their submission. The professional services vertical was followed by the computer and network security industry and then by civic and nonprofit firms.
It paved the way for firms to embrace mobile in travel and expensemanagement, with smartphones able to more accurately track employee spend while on the go. Beyond exceptions, a lack of visibility means friction in addressing supplier inquiries, auditing and budgeting.
The problem with this strategy, however, is that the use of manual auditing solutions would force managers not only to review every single charge on every single expense report, but to somehow keep a record of each employee’s past offenses to identify when they repeat a mistake or commit fraud more than once. .
It’s certainly the case for expensemanagement, said Karim Jouini, CEO of France-based Expensya. Indeed, one of the biggest mistakes a company can make in its expensemanagement strategy is “underestimating the importance of these three success factors in a process: data, data, data,” he said.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content