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Expense management has been an issue for American businesses, particularly as the pandemic crunched their finances this year. Digital spendmanagementtools could offset some of the damage.
Payhawk, a global leader in spendmanagement solutions, today announced a new integration with Mastercard to offer businesses in the U.S. and Canadian businesses using eligible Mastercard corporate and business cards can gain real-time visibility and control over their spending directly within Payhawk’s platform.
PEX, founded by Grant in 2006, offers software-as-a-service workforce tools designed for businesses not typically served by enterprise SaaS spendmanagement solutions. And that’s the main theme of a discussion that Toffer Grant, CEO of PEX , recently had with Karen Webster as part of the PYMNTS “CEO Conversation Series.”.
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.
The latest Workforce Spend Playbook showcases the shifting spendmanagement solutions landscape and how improved services are affecting SMBs’ in-field expense management, back-office operations and bottom lines. SpendManagement Solutions Are on the Rise.
At the same time, these solutions are providing accounting departments with greater transparency into how funds are spent on field-based purchases, plus insights for future spending. With the availability of new spendingtools and greater transparency, the nature of field-based work is shifting dramatically. About The Tracker.
Spendmanagement continues to evolve each year as new technologies reveal new possibilities. Existing spendmanagementtools offer dashboards that compile information in one place for an employee to analyze, which takes time and considerable skill. By SAP Concur.
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.
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.
Every particular concern must be deftly managed within budget, too, which can be tricky when unforeseen expenses arise. Having the right spendmanagementtools is not a luxury in event planning but rather an element critical to success. Expense solutions also need to be transparent about where money is headed and why.
There are many technologies that are gaining traction in this shifting environment, but virtual cards are emerging as uniquely poised to meet businesses’ need for flexible spendmanagementtools and employees’ demands for touchless payment options. About The Playbook.
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.
In a spendmanagement context, sync errors usually relate to an entry that failed to send to the ledger. It’s recommended to always incorporate some form of automation in any spend process or any spendmanagementtool to prevent sync errors and improve overall efficiency. In a word, very.
Too often, however, the reconciliation becomes an afterthought in the spendmanagement process, and can be even more difficult for a company’s accounting department to address if paper receipts get lost. The Latest Workforce SpendManagement News. Deep Dive: Teaching SpendManagement in Charter Schools.
As Joiner explained it, getting various stakeholders on board to institute a virtual corporate card, for example, or other spendmanagementtools — along with the great diaspora of the workforce — is a challenge. Yet there’s a wide gulf between considering the great shift to digital B2B payments and actually making the leap.
Collaborating with budget owners, procurement and finance leaders will be able to make better investment decisions for IT, marketing, sales and operations, doing away with the old method of working backwards to figure out spendmanagement in favor of data-driven insights to make predictive recommendations.
Sales are falling as consumers curb their spending, resulting in cash flow crunches that are pressuring businesses to stick to their budgets and pursue innovations. Managing Cash Flows During the Crunch. Countless digital spendmanagement solutions have entered the market to meet this growing demand.
Many companies, including Visa in a collaboration with Conferma Pay, are thus adopting digital spending control systems to gain more insight into their employees’ everyday spending and more control over their spending limits. Barclaycard On Everyday SpendManagement And The Digital Shift.
They expect mobile integration, rewards, spendmanagementtools — and perhaps most importantly, they expect card transactions to feel instant and seamless, regardless of the platform or marketplace on which they occur. Yet, consumers want credit cards to do much more today than they did in the early days of the industry.
The new Workforce Spend Playbook highlights the lat est spendmanagementtools, expense cards and workforce management solutions that are helping SMBs and their field-based staff to maximize efficiency on the front-lines of service and on the back-end of accounting. Investment bank J.P. About the Playbook.
CIBT corporate customers will now be able to access automatic reconciliation and better spendmanagementtools like data insights. They can charge specific amounts to the virtual cards for payment for visa services. Pete Fox , CIBT chief information officer, said the point is ease of access for travelers.
Why Deft SpendManagement Is Crucial To Successful Event Planning. Managing these expenses requires flexible and easy spendmanagementtools, as on-site event planners must be able to meet these needs and more without disrupting such events, according to Christine Altieri, founder of event management firm AE Events.
While Soldo first began as a personal finance solution, specifically a tool to help parents give money to their children and manage their spend, Soldo has increasingly turned towards the corporate banking and spendmanagement space. and Italy, bringing its employee spendmanagementtools into new regions.
Customers now expect mobile integration, rewards, spend-managementtools — and perhaps most importantly, transactions that feel instant and seamless regardless of the platform or marketplace on which they occur. Building Better Together For a Digitally Shifted Future .
Inaccurately reporting or managing deductions can have dire consequences for SMBs, as many lack the resources to weather fines from state or federal financial authorities. Digital spendmanagementtools are already more available than they were even half a decade ago, and many SMBs appear to be taking advantage of them.
Project managers and construction workers often have to manage their funds, operating budgets and other related expenses themselves, and losing track of any of these components can increase the time to project completion and final costs. A lack of access to spendmanagementtools can add further delays and expenses.
Divipay is an expense management solution for accounting and finance leaders around Australia. Their all-in-one spendmanagementtool helps businesses issue virtual corporate cards to team members, gain better control over how budgets are being spent and streamline all expense reporting through Xero.
Acumatica Debuts Automated SpendManagementTools. Acumatica has launched the Acumatica Advanced Expense Management and Electronic Bank Feeds for the Acumatica Cloud ERP technology. Payments on the network are directed between institutions, while a middleman does not hold the funds.
Drivers who are tasked with making deliveries as efficiently as possible need access to spendmanagementtools that help them move smoothly from point A to point B. Mokri recently explained to PYMNTS how spendmanagement solutions – including payment cards – and data analytics complement the company’s smart vending operations.
Two out of every five employees who use their own funds for work-related expenses have experienced cash-flow troubles due to lags in the spendmanagement process, according to recent research — resulting in approximately $1.6 billion in unclaimed funds with employers, which can strain employer-employee relationships.
These companies are now using workforce spendmanagementtools like corporate cards and reconciliation services to ensure both deadlines and client expectations are met. In addition to earmarking production-related costs, the workforce spendmanagement solutions Sparkhouse utilizes help the company save on bookkeeping expenses.
While fleets are essential, operating a network of vehicles can be messy for many SMBs, especially when it comes to reimbursing employees for on-the-job spending. Workforce and spendmanagementtools are being deployed to scrub the inefficiencies from SMBs’ reimbursement processes. About The Playbook.
Report: Spend Solutions That Drive Delivery’s Last Mile. The latest spendmanagementtools, expense cards and workforce management solutions, however, can help them and field-based staff maximize service as well as accounting efficiency. Fighting Food Waste The Digital Marketplace Way.
Supply chain payments company Tradeshift has announced a partnership with Wax Digital, a FinTech offering businesses spendmanagementtools. A press release issued Thursday (Nov.
GoExpedi connects businesses in the industrial and energy spaces with a B2B eCommerce platform, supplier sourcing resources, and spendmanagementtools. CSL Ventures, Crosslink Capital, Bowery Capital, Blue Bear Capital and existing backers also participated.
EedenBull, which is based in Norway, Scotland and Singapore, launched its commercial card platform in May to support financial institutions’ management of their own business cards and integrated rewards programs. Global Cash Card’s Legal Saga Ends.
Managing these expenses requires flexible and easy spendmanagementtools , as on-site event planners must be able to meet these needs and more without disrupting such events, according to Christine Altieri, founder of event management firm AE Events.
Brex integrates banking with its corporate credit card and spendmanagementtools, offering an all-in-one finance solution. All funds remain accessible for daily use, and Brex touts that you can earn around 4% APY on idle cash by automatically sweeping it into a money market fund.
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