B2B Tech Seeks To Connect Buyers And Suppliers Amid Market Volatility

PYMNTS

This week's roundup of the convergence of accounts payable (AP) and accounts receivable (AR) takes a look at how B2B payments solution providers are considering both buyers and suppliers as a result of the pandemic. PayMyTuition Meshes Education Vendor Management With AP.

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Auditoria Debuts New Automation Features For Corporate Finance

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There are three new features — Intelligent Collections, Intelligent Vendor Management and Intelligent Planning — which are intended to remove time-wasting steps and friction and improve cash flow for corporate finance teams, the release stated.

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How Data Guides A New Era For The ERP

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The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement.

SoftCo Rolls Out ExpressAP Tech For Invoice Processing

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To provide non-touch invoice processing and support remote work, SoftCo rolled out its SoftCo ExpressAP accounts payable (AP) automation technology. launched its Semantik Invoice cloud-based data acquisition offering to automate accounts payable (AP) processes per news in May.

How AR-AP Connectivity Works To Deepen Buyer-Supplier Ties

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As more technology emerges to sit between a company’s accounts payable (AP) platform and its vendor’s accounts receivable (AR) portal, service providers are looking to ease friction in a multitude of ways, from accelerating payments and cash flows to easing contract negotiations.

Solna On Moving Beyond AltFin To Tackle Late Vendor Payments

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However, while the alternative finance market continues to grow, late payments remain a massive pain point for small vendors. Previous payment behavior and credit scoring data offers unbiased insight into vendors’ customers, she continued. Yet, while access to capital is important for small suppliers, the measure would not combat late payment practices directly — it would help SMBs manage the cash flow consequences of getting paid late. Government vendors

Supplier Management Attracts $12M In Venture Capital

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An India-based startup helping businesses better manage their suppliers has raised new funding from investors. SirionLabs provides multinational companies with a way to manage and analyze supplier contracts and provide auditing and other solutions with the information. “Traditional procurement technology doesn’t cut the ice; managing the vendor after signature is the order of the day.”

AeroPay Creates Virtual Procurement Card Unit

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AeroFund has formed AeroPay Express , a unit that provides virtual procurement cards that act as a line of credit to business payers, as well as vendor management services. Vendors pay a fee to accept the virtual card payment. The company offers extended credit terms for up to $10 million and is linked to an accounts payable (AP) solution, which integrates with existing AP tools to help procurement departments pay invoices.

PayMyTuition Rolls Out B2B Supplier Payments Module

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To reshape how schools handle global business payments, payment processing provider PayMyTuition has rolled out an international vendor management module.

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India Corporate Card Startup Karbon Lands Funding

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The company also has a expense management tool that allows founders of upstarts to make sense of their company spending and changes their capital flows. The Freedom Card also on-boards users to the EnKash platform to automate accounts payable and accounts receivable operations per reports.

Candex Raises VC To Help Businesses Pay For Gig Services With Blockchain

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Candex facilitates vendor payments for its corporate users that take advantage of gig economy services. The rise of the gig economy means companies can access a wide array of vendors, but an increasing volume of suppliers can lead to complications in the accounts payable department, the company explained, adding that the average large enterprise sees 90 percent of service vendors accounting for just 5 percent of overall spend.

Report: Overcoming Cross Border Invoice Complexities

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Companies are therefore reconsidering their accounts payable (AP) and accounts receivable (AR) strategies, including everything from how they place orders to how they pay for them.

Top Software For Finance Professionals

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Accounting Software OneUp is an up-and-coming accounting software that lets accountants easily keep track of expenses and audit the books. With OneUp, accountants can view cashflow and profit information daily, allowing them to always stay on top of finances.

NACHA Taps AeroPay Express As B2B Payments Partner

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The group is focused on addressing issues like payments friction and access to cash flow, as well as security and risk management of ACH payments. B2B payments today cause many significant challenges for AP/AR [accounts payable/accounts receivable] departments. Launched by AeroFund last year , AeroPay Express offers virtual procurement cards that link payers to a line of credit and vendor management solutions.

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The ePayments Way To Compliance

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“The risk exposure varies greatly,” the senior manager of fund accounting strategy for Abila told PYMNTS. “It introduces a lot of complexities for managing both revenues and expenses for the organization.” ” As one can imagine, paper checks don’t support this type of transaction data management as well as other payment technologies could. Just like any organization, accounting has to be efficient, accurate and compliant.

Why Corporate Banks’ Should Seize Purchase-To-Pay Data Opportunity

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Michael Cichy, general manager of the Americas at Palette Software , said FIs continue to face barriers when developing products and services that can compete with agile FinTechs.

The Virtual Card Case For Nonprofits

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Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. The nonprofit industry has a lot to gain from this payment technology, claims a new whitepaper from vendor management consulting firm Vendor Centric. According to Vendor Centric, there are four key benefits for nonprofits when it comes to the v-card.