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RPA is igniting chatter in the corporatefinance community as professionals explore next-level analytics and automation functionality to enhance processes like accountspayable, accounts receivable, cash flow management and more. Automation Anywhere.
Corporates may not be adopting faster and real-time payments technologies as fast as consumers, but that doesn’t mean the acceleration of payments isn’t impacting corporatefinance.
Affirm, for instance, secured $275 million last May and, soon after, announced plans to link businesses operating over Shopify with financing. Meanwhile, AvidXchange, which provides accountspayable and automation solutions for corporations, also landed among the elite with a $225 million funding round led by Bain Capital in September.
B2B payments is at the center of efforts to innovate by FinTechs, banks and others, but corporates’ business-to-business payment processes remain complex, erroneous and a deterrent to growth. According to Optal’s report, more than a third spent as much as $342 million every month on supplier payments.
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