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Today in B2B payments, Wells Fargo rolls out its virtual card services for B2B payments, while PayPal Ventures makes a B2B payments investment. Simfoni Joins Vroozi’s Cloud-Based Procure-To-PayPlatform. Wells Fargo Debuts Digital Supplier Payment Tool.
Vroozi is moving to boost its cloud-based purchasing platform in a new partnership with Simfoni , an artificial intelligence (AI)-powered spend analytics provider, according to a press release. 19) release that it will add Simfoni’s spend analysis capabilities to its procure-to-pay solution.
For B2B payments , the pandemic may be the final nail in the coffin of the paper check — and the plastic commercial card, too. Illustrating the process, Blair pointed to the hypothetical corporate buyer who uses their procure-to-payplatform to source and buy laptops from an office supply firm.
Today in B2B payments: Visa collaborates to open up small business banking data, while Mastercard drives commercial card adoption across the MEA region. Plus, American Express eyes social media shoutouts for small firms, Veem launches a domestic B2B payments tool and Billtrust embraces machine learning. SMB economy. 18) press release.
Juvo Technologies wants to extend its presence within the procure-to-pay space and announced an acquisition to help it do so. Reports late last week said the technology firm has acquired Vendorin , a B2B payment technology and enterprise solutions company, to help Juvo build out a procure-to-payplatform.
It was one of the biggest weeks for B2B FinTech investment in months. based procure-to-payplatform that aims to link companies with a consumer-like eCommerce experience in the procurement department. eProcurement. Tradeshift. BuyerQuest. Bridge Bank provided $4 million in funding to BuyerQuest, a U.S.-based
Accounts payable automation company Transcepta has added a new way to support B2B transactions. 1) that it is introducing a dynamic discounting feature into its cloud-based AP automation and procure-to-payplatforms. Some analysts and industry players have viewed dynamic discounting as a way to combat late B2B payments.
B2B payments company Accrualify, based in California, announced its first venture capital funding round. The firm said it plans to use the money to strengthen its existing accrual and spend management platform. The firm said it plans to use the money to strengthen its existing accrual and spend management platform.
Mastercard will harness supply chain information from N-Frnds, the virtual procure-to-payplatform of SGeBIZ, and other sources to team with Finastra and the firm’s Trade Bank clients with the goal of automating working capital finance access.
Transcepta, a procure-to-payplatform, is ramping up its use of artificial intelligence (AI), the company said late last week. In an announcement , the company said its leveraging of AI and predictive analytics technologies can enable smarter procurement decision making.
Singaporean peer-to-peer (P2P) platform Funding Societies will partner with Singapore eBusiness (SGeBIZ) for a new way to provide financing solutions to customers, reports said. SGeBIZ offers an array of loan products for small business (SMB) users, including B2Bprocure-to-payplatform EzyProcure, the first of its kind in the country.
In the January B2B Payments Automation Innovation Playbook , PYMNTS and Mastercard found that 85 percent of companies want accounts payable automation, though 59 percent have yet to implement any kind of payments automation into their own back-end systems.
Supply chain payments solution provider Tradeshift is collaborating with professional services firm Genpact to broaden its procure-to-pay offering in an effort to support digitization and automation for joint customers. The companies announced their partnership Tuesday (Oct.
It’s important for procure-to-pay technology providers (and the corporate buyers that use these solutions) to meet vendors where they are, and enable as many touchless invoices as possible. Suppliers are now able to automatically create an invoice directly from a purchase order sent via the BuyerQuest platform.
SAP Ariba announced its partnership with Barclays in February, which enables companies using the procure-to-payplatform to make vendor payments via Barclaycard Commercial Payments’ Precisionpay solution, which supports virtual card payments. PrimeRevenue did not provide a comment on the matter, the publication said.
Electronic invoicing firm CloudTrade is integrating its service into procure-to-payplatform OpusCapita, the firms announced Tuesday (Jan. According to OpusCapita, its procure-to-pay and order-to-cash solution facilitates 600 million transactions a year with more than 8,000 customers across the globe.
Aquiire said it purchased the rights to Zakta’s machine learning and collaborative search technologies and will imbed that tech into its real-time procure-to-payplatform. Zakta’s technology includes visual search and discovery, natural language processing, data mining and other capabilities.
Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. VAT regulations are behind the latest updates to procure-to-pay company Direct Commerce, which offers a range of services for B2B suppliers and buyers to facilitate business.
The company said at the time that it would integrate that technology into its procure-to-payplatform to enhance search experiences and social media product reviews.
The procure-to-payplatform of the Ariba Network revealed last week a new joint venture with the supply chain financing solution offered from PrimeRevenue. Placing that burden on the buy side, said Hofler, is a more strategic way to ease cash flow burdens in B2B transactions.
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