Why AP automation is a smart investment for CFOs
CFO Dive
SEPTEMBER 12, 2023
When it comes to managing thousands of invoices, artificial intelligence and automation can run a much tighter ship than humans, asserts Medius executive Branden Jenkins.
Winning The Battle Against ‘Invoice Leakage’
PYMNTS
MAY 20, 2020
To that end, Ajay Agrawal , CEO and founder of SirionLabs , told PYMNTS, “invoice leakage” occurs when firms do not have the ability to review invoices from their suppliers on a “granular level,” which leads to missed opportunities to spot discrepancies.
Invoicing 
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Dell Takes An API-Enabled Approach To Fixing Invoicing Pains
PYMNTS
NOVEMBER 25, 2020
Companies long-used to sending and receiving paper invoices and checks are finding that digital methods can deliver funds and billing information at a far faster clip. B2B payments automation can save companies valuable time and make it easy for employees working from home to process invoices and reconcile payments.
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Crowdz Pilots Invoice Crowdfunding Platform InvoiceXchange
PYMNTS
JANUARY 16, 2020
B2B invoicing and payments firm Crowdz has announced a new pilot aimed at connecting businesses to crowdfunding services to finance their unpaid invoices. 16), Crowdz announced it is rolling out what it claims to be the world’s first invoice financing marketplace, InvoiceXchange, in pilot phase.
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Argo Tea On Avoiding The Steep Price Of Invoicing Errors
PYMNTS
MAY 13, 2020
Accounts payable (AP) tools that provide quick, detailed oversights of businesses’ financial statuses and payments obligations can help pick up the pace of payments by keeping invoice approval processes on track. Three-Way Invoice Matching Brews Up Better AP Processes. Around The AP Automation World. Find the full story in the Tracker.
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Buyers And Suppliers Tackle The Invoice-To-Pay Digitization Journey
PYMNTS
MAY 4, 2020
The Optimizing AP and AR Playbook , a collaboration between PYMNTS and OnPay Solutions , found last month that an estimated nine billion paper invoices are processed every year in U.S. For many suppliers, working remotely has driven AR departments to email invoices out to customers, if they hadn’t been doing so already.
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VCs Looking For FinTech Firms To Solve The Pain Of Unpaid Invoices
PYMNTS
JANUARY 25, 2019
This week, Barclays and Santander InnoVentures demonstrated traditional banks’ interest in alternative finance when they led a nearly $34 million equity fundraise for invoice financing platform MarketInvoice. The firm plans to focus on expansion with the investment, targeting a customer base of 30,000 by 2022.
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Shark Tank Star Out $400K In Invoice Fraud Scam
PYMNTS
FEBRUARY 27, 2020
Invoice fraud scams continue to target businesses of all sizes and industries, with experts warning of a major spike in various iterations of business email compromise scams. Reports in People this week said Corcoran lost nearly $400,000 to an invoice scam and confirmed that she will not be able to recover the funds. “I
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FinTech Bottomline Launches AI Solution For Invoice Automation
PYMNTS
OCTOBER 1, 2019
Commercial payments firm Bottomline Technologies is rolling out advancements to its invoice automation platform that uses artificial intelligence (AI), the company announced in a press release on Tuesday (Oct. Bottomline is also updating the Paymode-X AP Automation solution to work more seamlessly with users’ back-office systems. .
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U.S. Bank Launches New Visibility, Invoice Options For Freight Carriers
PYMNTS
JUNE 10, 2020
Bank features will allow freight carriers new B2B payment options such as a new dashboard for better receivables visibility and a way to pay invoices much quicker, according to a June 10 press release. Bank says will expedite things for carriers who work under the typical 45- to 90-day contract pay terms.
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Validis Automates Data Collection For Invoice Financiers
PYMNTS
FEBRUARY 8, 2019
Financial data technology firm Validis is rolling out a new solution designed to automate month-end reconciliation processes for small business lenders and invoice financing firms. 7), Validis said it has rolled out DataShare Reconciliation for small business lenders offering Confidential Invoice Discounting (CID).
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Invoice Startup Upflow Raises $2.7M
PYMNTS
SEPTEMBER 5, 2019
French startup Upflow , a company that wants to streamline the invoicing process for companies, help them stay organized and ensure they get paid on time, has raised $2.7 Many companies have relied on Excel spreadsheets to keep track of invoicing information, and Upflow has created a proprietary system to improve on that.
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Serent Capital Invests In Procurement Partners
PYMNTS
DECEMBER 6, 2020
Procurement Partners , which works on procure-to-pay (P2P) services for healthcare providers, has received an investment from Serent Capital , according to a press release. Through 100 percent invoice integration, the service boasts improvements to savings, and offers a compliance audit feature that can help vendors cut spending.
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Invoice Finance Firm Invox Kicks Off ICO
PYMNTS
MARCH 16, 2018
Invoice financing company Invox Finance has officially kicked off its token sale. Buyers can access the Australian company’s Invox Finance platform, a peer-to-peer invoice financing portal that allows buyers and sellers to connect directly and swap data.
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Enterpay Raises Funds To Expand Internationally With B2B Invoicing Solution
PYMNTS
OCTOBER 14, 2019
Finnish invoicing company Enterpay announced that it has closed a €1 million ($1.1 Headquartered in Helsinki, Enterpay’s automated invoicing payment solution works to optimize the payment process for B2B eCommerce companies, allowing them to increase profitable customers via improved credit scoring and automated invoicing.
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Today In B2B: Wells Debuts Virtual Commercial Cards, PayPal Ventures Makes B2B Payments Investment
PYMNTS
NOVEMBER 20, 2020
Today in B2B payments, Wells Fargo rolls out its virtual card services for B2B payments, while PayPal Ventures makes a B2B payments investment. 19) announced in a press release that it is adding a new solution to its WellsOne Virtual Commercial Card , enabling business customers to digitally pay invoices to suppliers and others.
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Uber Looks At $500M Investment In Freight Division, Report Says
PYMNTS
JULY 16, 2020
An Uber spokesperson said that while it was “not unusual for us to receive interest for investment in Uber Freight, we are not able to comment on rumors about these discussions,” according to Bloomberg. The company was mum about the issue thus far. The company also planned to launch another European arm of the business in Germany.
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Invoicing, Internationally, On The Fly And With Flywire
PYMNTS
DECEMBER 15, 2017
Complex on so many levels, especially when it comes to payments and, more specifically, invoicing, where demands for payment are tracked through paper and electronic means. Flywire’s background in the healthcare and education space, along with its existing invoicing system, helped assist these businesses in new ways.
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Barclays Next To Tap Into FinTech With MarketInvoice Investment
PYMNTS
AUGUST 3, 2018
2) that it has invested in small business lending platform MarketInvoice. An announcement on the MarketInvoice blog said Barclays’ investment makes the bank the first High Street FI to partner with the FinTech. Barclays said it also plans to eventually finance some of the invoices uploaded to MarketInvoice. “In
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54 VCs Pump More Cash Into Invoice Finance
PYMNTS
APRIL 21, 2016
All of a sudden, venture capitalists seem to love invoice finance startups. Last week, in our B2B Investment Tracker , we uncovered several deals in which investors backed invoice finance companies. KredX also secured investment — to the tune of $750,000 — for its invoice financing solution. based Platform Black.
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Mastering Cash Flow Management: Ensuring Liquidity for SMB Success
CFO Network
MARCH 11, 2024
Effective cash flow management is crucial for sustaining day-to-day operations, investing in growth opportunities, and weathering unexpected financial challenges. One of the most common pitfalls in cash flow management for SMBs is delayed invoicing.
Supplier Sues Sears Over Alleged Unpaid Invoices
PYMNTS
OCTOBER 22, 2018
19) that one of Sears Holdings’ vendors is suing the company, claiming nearly $840,000 in unpaid invoices. The case was filed in Cook County Circuit Court in Chicago and named Sears CEO Edward Lampert, his private equity firm ESL Investments and Sears subsidiary Kmart as defendants. The Chicago Sun Times said on Friday (Oct.
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The Cash Flow Effect Of On-The-Spot Invoicing
PYMNTS
AUGUST 9, 2017
That’s because these companies are often working onsite and in the field, therefore having to issue invoices and accept payment on-the-spot, too. Business owners also expressed an inability to build inventory, invest in advertising or pay for wage increases or bonuses for their employees.
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Invoice Finance Platform To Cover (Some) Investor Losses
PYMNTS
JUNE 7, 2016
As skepticism over the vitality of the alternative lending space grows, one marketplace lender in the invoice financing sector is looking to quell any investor anxiety. “Our bids will range from 5–33 percent of the invoice funding target.” ”
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Google Almost Done With Transition To SAP Ariba Network
PYMNTS
AUGUST 9, 2020
Due to the SAP Ariba Network, suppliers have access to better visibility for invoices and orders, with the ability to self-manage account information, submit invoices electronically and receive new purchase orders. Strides have been made lately toward eliminating late invoice payments, PYMNTS reported.
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BlueVine CEO: The Real Value Of Invoice Factoring
PYMNTS
JUNE 7, 2018
BlueVine’s only other product, invoice factoring, targets much larger businesses. BlueVine also offers invoice factoring , which was very much a greenfield when Lifshitz founded the company five years ago. ” That said, invoice factoring is still a tricky business, but one that is highly scalable.
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Ricoh Launches Digital B2B Invoicing Tool
PYMNTS
JANUARY 5, 2017
Ricoh Canada revealed this week the launch of its eInvoice Presentment & Payment Service, a solution to help businesses provide electronic invoices to clients and accept payment. Electronic invoicing is considered key to improving B2B payments and processes.
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MarketInvoice Adds Invoice Insurance Via Euler Hermes
PYMNTS
FEBRUARY 9, 2018
Invoice financing company MarketInvoice is enhancing its product offering through a new collaboration with Euler Hermes. Trade, investment and consumer spending are driven by confidence, and uncertainty is the enemy of confidence.”. Reports Thursday (Feb. 8) said the U.K. We live in uncertain times,” added Euler Hermes U.K.
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UK’s Nationwide Makes Open Banking FinTech Investments
PYMNTS
SEPTEMBER 24, 2019
financial institution Nationwide Building Society has made an investment in open banking FinTech BankiFi , the companies revealed in an announcement Monday (Sept. Nationwide did not disclose the value of its investment in the company, though the firms noted that the funding comes as the bank plans to launch its own business current account.
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Improving Cash Flow with Effective Bookkeeping
CFO Share
MARCH 15, 2024
Invoicing and Collections: Every invoice sent and every payment followed up on means securing what your business rightfully earns. Develop a calendar with your bookkeeper that defines which days of the month are dedicated to invoicing, collections, vendor payments, payroll, and month close.
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Infibeam Partners With Primechain On Blockchain-Based Invoicing For Global Trade Finance
PYMNTS
APRIL 22, 2019
Digital payments entity and eCommerce platform Infibeam Avenues and blockchain startup Primechain Technologies have announced a partnership to implement a cross-border blockchain invoicing platform for the $12 trillion global trade finance market.
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Why are VCs Investing in The Office of the CFO?
The Finance Weekly
MARCH 13, 2022
Just in the , first half of 2021 , Global venture capital funding shattered records as more than $288 billion was invested worldwide. So, why are VCs investing in the office of the CFO? Existing investors , Bain Capital Ventures , , First Round Capital , , Quiet Capital , , Webb Investment Network , and , BoxGroup also participated.
The Shelby Group, Equiteq Team Up On Investment
PYMNTS
JANUARY 9, 2020
Mergers and acquisitions (M&A) advisory firm Equiteq announced that it advised The Shelby Group , an eProcurement transformation and optimization consulting firm, on a recent growth investment from Boston-based private equity firm WestView Capital Partners , according to a press release.
Investors Cozy Up To Invoice Financing
PYMNTS
APRIL 15, 2016
According to new data from PitchBook and reports from Reuters on Thursday (April 14), B2B startups are receiving venture capital at impressive rates, with growth in VC investments surpassing that of B2C startups. Invoice financing has achieved new popularity among SMEs as their large corporate buyers stretch out payment terms.
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40 US Judge Sentences Man For $25M Supplier Invoice Scam
PYMNTS
DECEMBER 18, 2017
Adindu was accused of facilitating a scam to defraud businesses of more than $25 million by sending fraudulent invoices that appeared to be legitimate bills from suppliers or company executives. Reports in The Guardian said David Chukwuneke Adindu was sentenced by Manhattan District Judge Paul Crotty. The sentence follows charges by the U.S.
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Visa, Validus Use Visa Virtual Card For Singapore SMEs To Pay Invoices
PYMNTS
JUNE 23, 2017
Alternative lending platform Validus is deploying Visa virtual card technology to help small and medium-sized enterprises in Singapore with unpaid invoices access working capital, according to an announcement Thursday (June 22). Validus operates a platform through which investors can provide financing to SMEs directly.
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55 Invoice Fraud, Global In Reach, As GDPR Looms
PYMNTS
MAY 16, 2018
Separately, here in the states, Fidelity Investments jettisoned (via firings or resignations) more than 200 workers who claimed employee purchase program reimbursements to which they were not entitled. In Ireland, three men were arrested by the Garda for their alleged roles in “invoice redirect frauds” that brought the trio 500,000 euros.
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FLEETCOR Looks To Invest $1B Despite Pandemic M&A Slowdown
PYMNTS
NOVEMBER 3, 2020
FLEETCOR is looking to invest $1 billion this year, despite an M&A slowdown in the payments sector due to the ongoing pandemic. He noted that Bill.com, which received an investment from FLEETCOR in April 2019, held a successful initial public offering (IPO) in December. People want to wait until the recovery happens.”.
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China Tackles Trade Invoice Fraud To Stunt Capital Outflow
PYMNTS
MAY 6, 2016
Hong Kong is looking to curb the illegal outflow of capital from China, the apparent result of fake trade invoices, reports said on Thursday (May 5). China has initiated its own efforts to stint the outflow of funds as people look to safeguard their cash offshore or invest overseas.
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How onshore Technology Expense Management (TEM) support will regain prominence in 2024!
E78 Partners
MARCH 2, 2024
This is understandable, given the increasingly high cost of capital, which strains businesses’ investment in growth and IT budgets. ( They often feel they are not receiving sufficient value for their investments, citing issues with unskilled offshore resources, lack of expertise, and responsiveness. no surprises! )
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Surprise: The C-Suite Falls For Invoice Scams The Most
PYMNTS
SEPTEMBER 14, 2017
What makes this so difficult, some analysts say, is that when an employee is directed by a seemingly legitimate C-Suite executive at their company to initiate an invoice payment, an employee isn’t likely to disobey orders from upstairs.
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ASB Bank Invests In Blockchain Trade Tech Startup TradeWindow
PYMNTS
AUGUST 13, 2019
12) that ASB Bank has invested in TradeWindow with funds that will support the startup’s ongoing development of a distributed ledger technology-powered trade platform. TradeWindow allows all relevant documents — from certificates to invoices — to be exchanged digitally using one touchpoint.”. Reports in Scoop.co.nz
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BlueVine CEO: The Real Value Of Invoice Factoring
PYMNTS
JUNE 6, 2018
Blue Vine’s only other product, invoice factoring, touch businesses much larger. Blue Vine also offers invoice factoring, which was very much a greenfield when Lifshitz founded Blue Vine 5 years ago. That said, invoice factoring is still a tricky business, but one that his highly scalable.
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Open Banking Entices SMB Lender Investly To Go After Funding
PYMNTS
JANUARY 30, 2018
The company, which provides a small and medium-sized business (SMB) invoice financing platform, aims to raise more than $700,000 via fundraising platform Seedrs. The company, which provides a small and medium-sized business (SMB) invoice financing platform, aims to raise more than $700,000 via fundraising platform Seedrs.
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