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But that thinking has shifted because improvements to productivity with automation are now widely recognized as the key to not only surviving a downturn but being a lean, mean machine coming into the turn when opportunities to claim market share are at their greatest. The post Modern spendmanagement software unlocks new value drivers.
Supply chain payments company Tradeshift has announced a partnership with Wax Digital, a FinTech offering businessesspendmanagement tools. But our customers have been seeking to extend their collaboration with suppliers on upstream processes, such as sourcing and contract lifecycle management.
It may not look like it yet, but business travel is headed for a comeback. At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. Emirates Islamic Launches Cards For SMBs.
However, in this week’s Commercial Card Innovation roundup, it wasn’t the point of friction that technology firms were addressing. Visa and American Express (Amex) turned their attention to promoting virtual card adoption as a technology that enables greater visibility and security in B2B transactions. customers mid-2020.
Coupa , which works in businessspendmanagement, is rolling out new capabilities to help with businesses’ spend visibility while lowering risk, through a cloud-based platform, according to a press release.
If wasteful spending can be identified at the time when a decision is being made, then it’s possible to streamline that transaction and deliver greater efficiency with the same number of dollars. Duvedi named a few areas of risk where cost can be reduced and found money unlocked through more effective businessspendmanagement.
Nium bridges businesses with technology to streamline the way they send and receive payments, with a focus on small and medium-sized businesses able to offer their own remittance offering, InstaReM , via Nium’s remittance-as-a-service product. BRI Ventures also joined as a new investor, the company noted. Treasury Prime.
“It’s critical that CFOs adopt a cloud-based strategy for businessspendmanagement that enables them to have visibility and control over their spend to make more strategic and informed decisions about their business.”. 1 threat to CFOs’ abilities to make a positive impact on their companies’ financial positions.
According to HSBC, the data could signal a decline in businesses’ use of “petty cash” as corporates make the shift to corporate cards. “This enables [corporates] to uncover valuable spend data, simplify processes, and make smart decisions,” said SAP Concur India Managing Director Mankiran Chowhan in a statement.
The silos can be how they make their decisions, or it can be about their technologies.”. From revenue, the typical push has been to examine the returns on employee assets and then businessspendmanagement. Ah, but the key, as always, is what technologies to embrace. Tough barriers to break, maintained Ford.
Wilczek told PYMNTS that a “competitive edge can come by cleaning up the house internally, and by that, I mean streamlining processes using best-in-class technology — and striking down silos within that company.”. Beyond the competitive edge, CFOs must contend with compliance and risk mitigation. “In
Boost Payment Solutions is partnering with BMO Harris Bank to support integrated commercial card processing for the bank’s business customers, the firms recently announced. As companies elevate their use of payroll cards, Galileo Financial Technologies is rolling out its own solution to facilitate employee compensation.
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