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
Spendmanagement was the focus of innovation in the commercial card space this week thanks to partnerships and investments in firms aiming to help companies keep track of expenses. Spendesk provides a spendmanagement offering that gives further visibility and digitization to finance workforces.
Today in B2B, trade finance technology provider Surecomp announces its newest marketplace partner, and Serko expands its expense management offering into North America. Plus, Suplari launches new corporate spendmanagement solutions, and PROS expands its Adobe partnership to help B2B business customers launch eCommerce operations.
Expense management has been an issue for American businesses, particularly as the pandemic crunched their finances this year. Digital spendmanagement tools could offset some of the damage. Many companies only pay for purchases after the fact, giving them very little insight into on how much is being spent — or none at all.
This manual system has been a source of frustration for both workers and their employers for years, but the pandemic has exacerbated the systems’ deeper flaws and served as a catalyst for a wave of spend ma nagement innovation. For more on these stories and other recent headlines on everyday spending, download this month’s Playbook.
All of this friction can lead to that worker left waiting, cooling his or her heels in the truck, as the traditional spendmanagement process grinds on. Spendmanagement is also following that trend, though there is still much work to do, of course. “You So much for getting ahead. Audit Trail.
Some firms have better adjusted to new digital tendencies than others, especially when it comes to keeping track of B2B payments and spendmanagement. Bringing Virtual Cards To A Virtual B2B World. Businesses have long relied on traditional tools, such as credit cards, to manage business expenses.
A lull in venture capital funding has only a few B2B FinTechs this week securing new investment rounds. In the meantime, PYMNTS gathered up a shortlist of the B2B FinTechs that were able to secure new funding as backers prepare for their next wave of support. The plan is now open for public comment, reports said. Mailprotector.
6) announcing updates to its Coupa Business SpendManagement Platform, including artificial intelligence (AI)-powered fraud prevention, global compliance controls and enhancements to supplier management and procure-to-pay functionality. The company issued a press release Wednesday (Feb.
When it comes to solutions, the latest Workforce Spend Playbook , a collaboration between PYMNTS and Bento for Business , is a compilation of the best spendmanagement approaches currently available. PYMNTS research found that 42 percent of B2B payments were made via paper check in 2019, for example.
Nicki Bisgaard , CEO and founder of EedenBull, said in the report that the new partnership “underlines our progress in offering best-in-class payment and spendmanagement technology to the banking community globally.”. “We The platform can help SMBs prevent losses by making sure they use best practices.
B2B FinTech startups have stepped into 2021 with a bang, as industry players raised more than $910 million in combined funding. And thanks to several nine-figure investment deals, BaaS, expense management, payroll and B2B eCommerce are now in the spotlight. Corporate spendmanagement startup Divvy is now valued at $1.6
Coupa has rolled out enhancements to its business spendmanagement (BSM) solution, the firm revealed this week. The enterprise spendmanagement company announced at its annual Inspire conference the addition of voice activation using Amazon Alexa to manage inventory, locate items, and reorder stock.
Public school budgets are tight, and whenever public funding is involved, it’s not only important to tighten the grip on spend, but to build transparency of the taxpayer dollars being used. But the spendmanagement needs of the education system cannot entirely be met by a single solution that provides visibility into capital expenditure.
Parpou discussed in an interview with PYMNTS how the pandemic is creating unprecedented demand for digital improvements to legacy spendmanagement systems and how such advances could change what constitutes everyday business spend for good. Going Digital To Stay Remote. Adding Value To A Post-Pandemic Marketplace And Beyond.
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.
Distributed spendmanagement platform Teampay will be integrating with Ironclad , a digital contracting platform, to help connect financial and legal workflows and streamline spendmanagement, according to a Wednesday (Oct. 28) press release. Previously, the release notes, companies needed a contract to be signed.
This week, however, venture capitalists in the B2B FinTech space went global, hitting Australia, the U.S., Once again, it was a healthy dose of modest funding rounds for a varied B2B FinTech space, and we break down all of the $45.6 France and India. million raised. Commercial Cards. Corporate Travel. TripActions. Lighthouse.io.
Businesses of all sizes are slowly phasing manual expense tools out of spendmanagement strategies. Card network American Express is also searching for ways to entice SMBs to use its expense services, announcing a new corporate spendmanagement program for startups. About The Playbook.
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 accounts payable by the end of the year, after all, with ACH gaining traction as the go-to ePayments rail for corporate payers.
It was a big week for B2B FinTech startups in Latin America. It’s an attractive market indeed for investors, with not one, but two Brazilian B2B FinTechs making this week’s venture capital roundup. Until then, PYMNTS rounds up the most recent B2B FinTech investment rounds below. Authenticiti.
Corporations are predicted to bump their spending on SaaS apps to $50.8 And that’s just a slice of the B2B subscriptions sphere, said Tyler Eyamie, CEO of subscription billing solutions provider Fusebill , in a recent chat with PYMNTS. billion by 2018, a 13 percent jump from 2013 levels, while 27.8
In the wake of the pandemic, B2B payments have had to evolve. But in an interview with PYMNTS, Mary Beth Joiner , senior vice president of relationship management at Comdata Corporate Payments, said that there have still been pockets of resistance in making the great digital pivot.
American Express is working with Coupa on a new partnership to use virtual cards for Coupa's B2B solution, a press release says. Coupa Pay, the Coupa B2B solution, will be available for customers of AmEx's virtual cards, in a move meant to streamline the old payment processes which the release calls "outdated, complex, and inefficient.".
IT spendmanagement solutions provider vCom Solutions is upgrading its mobile app for iOS and Android devices, the company said this week. Researchers have found that increases in corporate investments in IT, including software-as-a-service, have presented new challenges to managingspend.
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 Expense Management. Dubbed Precisionpay Go, the new Visa-powered solution supports digital spendmanagement for U.K.
Growth equity firm TCV has acquired spendmanagement tech firm Oversight , according to a press release emailed to PYMNTS, and will help Oversight expand its product innovation for enterprise risk management solutions.
At least those flames are casting light on flawed, outdated (even paper-based) expense management practices, as reported in the latest PYMNTS Workforce Spend Playbook. In the age of platforms, more firms are consolidating expenses into dedicated solutions that address worker complaints and bring new transparency to spendmanagement.
Airbase, a spendmanagement company looking to consolidate a range of expense management processes for organizations, has announced new funding for its technology. In an interview with the publication, Founder and CEO Thejo Kote described the firm as “the first all-in-one spendmanagement system.”
Visa is expanding the testing of its B2B payments technology, B2B Connect , into Thailand, according to reports. The Nation reported that B2B Connect is now being piloted by Thailand’s largest bank Kasikornbank. ” Visa began testing the B2B payments solution earlier this year with UnionBank in the Philippines.
“Does your business want to improve its spendmanagement?”. Few CFOs would say “no” if asked that question: Spendmanagement is attractive to companies for obvious reasons, as even successful companies face margin pressures. Controlling spend doesn’t have to mean giving employees less capital to work with, said Duvedi.
Corporate spendmanagement company Center unveiled a Mastercard -powered Center® Corporate Credit Card and a QuickBooks Online Connector on Thursday (July 30). The Comdata, Inc.
In B2B payments and corporate finance, it wasn’t only bank-FinTech collaboration that made headlines in 2018. Here are some of the biggest stories of B2B payments collaboration from 2018. Last June, the company announced a partnership with B2B eCommerce platform Handshake to further that initiative.
The rise of the gig economy and the popularity of remote work are among the factors that are laying bare the need for better spendmanagement systems and technology. The immediate goal is to move such spendmanagement systems for field technicians away from their reliance on cash and checks.
B2B trade and spendmanagement firm Tradeshift is not only expanding its operations in Australia, but it’s setting up new offices there. The company announced Friday (Oct. 28) that it will open offices in Sydney to focus on serving Australian and New Zealand businesses, banking on the region’s solid economy.
Today in B2B payments, TripActions announces new funding that values the T&E startup at $5 billion, while OneSource Virtual launches invoice payment capabilities. Plus, iBanFirst launches B2B payment traceability tool, Georges rebrands with new funding, and HashCash partners with a bank on blockchain payments. 21) blog post.
Centralizing data into a single system across a range of functions — including invoicing, payments, spendmanagement and more — means faster access to the vital information necessary to make decisions.
It’s a phrase that can cause several types of jobsite headaches — stepping away from a project to hit a hardware store with petty cash, for instance, or calling the boss to gain approval to go over a card spending limit. SpendManagement Change. SpendManagement Misconception. Time Is Money.
Mastercard said as a result of the expanded partnership in Europe, Mastercard will support EedenBull’s commercial cards platform to banks seeking to tap into Asia Pacific’s B2B payments market. Last month, PYMNTS reported EedenBull rolled out its commercial card platform to banks to take advantage of improved B2B payment capabilities.
Not only do multiple systems cost more, but the modern approach to spendmanagement does a better job. It’s designed to control spending and streamline the interrelated, and continuous workflows associated with the process from intake to the final booking. Build for scale to avoid the need for future action.
In the announcement , the companies said the acquisition will help Ahmedabad-based Infibeam offer better B2B payment services. Cardpay , based in Bengaluru, India, offers a spendingmanagement platform to corporations under the brand name “Grit.” “Payments-led lending is the new growth mantra for us.
Up till now, spendmanagement has been tied to what Barker termed the “invisible bank,” where employees typically will spend money using their own (plastic) cards, and then claim those funds back through expense reports (where reconciliation can be time consuming and messy).
In an interview with Karen Webster, Farhan Ahmad, founder and CEO at B2B payments solution provider Bento for Business , took note of the fact that half of all small to medium-sized businesses (SMBs) cite cash flow management as their biggest challenge. To keep the bottom line buoyant, healthy and in the black: Plug the expense leaks.
Modernizing corporate spend could be the solution to businesses' issues, PYMNTS reported , with digital spending the new way to help support a system based around working from home. Countless digital spendmanagement solutions have entered the market to meet this growing demand," PYMNTS reported.
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