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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. So much for getting ahead. Audit Trail.
Against that backdrop, companies are re-evaluating and redesigning their entire supply chains, cost management life cycles and other processes across all industries from healthcare to manufacturing. Yet there’s a wide gulf between considering the great shift to digital B2B payments and actually making the leap.
Corporate eProcurement spendmanagement company JAGGAER plans to acquire BravoSolution , the companies announced this week. In a news release , JAGGAER said it would acquire BravoSolution from Italmobiliare in a deal that will make the company the “largest independent, vertically focused spendmanagement solutions company in the world.”
Traditionally, this meant largely unmanaged spending since companies were never sure how much was put on cards. As a result, they lacked real-time control over that spend. There are different definitions of spend under management. Classify and communicate the scope of unmanaged spend.
Despite the influx of spendmanagement software products, all designed to make employee spending easier to manage, many of these gaps remained. Controller Eoin Hession confirms the importance of usability: “Airbase is an impeccably streamlined, user-friendly spendmanagement system designed for all employees.
Healthcare, retirement and Social Security contributions must be packaged with more common payroll information and securely distributed to each worker, then recorded once again in business filings. Systems utilizing automated technologies to sift through a year’s worth of data can quickly calculate employee withholdings, for example.
This month’s Deep Dive explores the numerous ways in which pandemic-driven financial strains are prompting businesses to invest in digital spendmanagement tools, the solutions they are investing in and the extent to which such offerings can alleviate businesses’ spending pain points. Managing Cash Flows During the Crunch.
Procurement Partners , a procure-to-pay technology provider designed for the healthcare industry, did not disclose how much it raised from Serent Capital when it announced the growth investment. Fairmarkit.
Today’s corporations are happy to bid goodbye to these time-consuming, paper-based processes and turn to online, automated expense tracking products for their spendmanagement needs. Approximately 10,000 of these cards are in circulation at Sysco as part of its spendmanagement program, Anderson said. Program compliance
Tapping into the pool of short-term workers means employers can avoid offering full-time benefits like healthcare, and also saves them from having to deal with additional labor costs. This Deep Dive examines potential workforce spendmanagement use cases for companies and gig workers alike. percent of the U.S. million workers.
The B2B FinTech space saw its fair share of venture capital, too, with investors targeting spendmanagement, alternative small business lending, workforce management and enterprise crypto services — plus, some news of a few more investment rounds likely on the horizon.
Data from the 2022 CAS Benchmarking Survey shows that the client industries with the highest percent of CAS practices were professional services (41%), nonprofits (33%), and healthcare facilities (21%). It’s important for accounting firms to understand where the client need is when thinking about developing specialty areas.
Recently, Karen Webster and PEX CEO Toffer Grant had a discussion about providing state-of-the-state spendmanagement services to companies that rely on gig and freelance workers. Meanwhile, the use of technology to improve healthcare payments is gaining increasing focus, even beyond the recent change regarding Medicare Advantage.
Tapping into the pool of short-term workers means employers can avoid offering full-time benefits like healthcare, and also saves them from having to deal with additional labor costs. This Deep Dive examines potential workforce spendmanagement use cases for companies and gig workers alike. percent of the U.S. million workers.
The integration with Gmail makes it possible for receipts and bill payments to become part of the transaction and spendmanagement functionality. Most importantly, this “app of apps” would work across operating systems, channels and devices, and would be activated by voice and SMS.
” Some firms, particularly those in the healthcare, manufacturing, education, technology and construction arenas, are experiencing an uptick in expense volume on the Webexpenses portal, he noted. “The other thing to keep in mind is that travel makes up a component of expenses, but not all of them,” continued Reynolds.
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