Payables Place’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past month. If you are a sourcing, procurement, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Medius Announces Expansion of its Cloud Offering
Medius, a provider of cloud-based accounts payable (AP) invoice automation, with headquarters in Sweden, has just announced the launch of a cloud-based ecosystem that will connect best-of-breed solutions to their AP invoice automation solution, MediusFlow. Users will now be able to link invoice data to other cloud services, such as Micosoft Dynamics 365. MediusFLow users will also see improved visibility, as the solution now offers the integration of invoice data to business intelligence tools (QlikView, Power BI, and Excel for example). Invoice data will automatically be updated into the users reporting tool once a connection is established. Medius also announced a new partnership with Spendency, a spend analytics vendor, where users will be able to export spend data and quickly import to Spendency, where the tool will help categorize spend and help provide a structured view of all purchases, as well as drive insights and increase control.
MineralTree & Western Union Announce Partnership to Add Cross-Border Supplier Payments
MineralTree, a provider of AP and payments automation software based in Cambridge, MA, recently announced a partnership with Western Union to offer integrated support for cross-border vendor payments. The integrated service offers an efficient process for automated invoice data capture and online approval workflow. It will also provide users with direct integration with bank and credit card accounts for payment disbursement and better transaction reporting. This integration will affect over 1,200 middle market companies.
Top Image Systems Launches New Cloud-Based AP Solution for SAP Business One Users
Recently, Top Image Systems, a global provider of document processing solutions based in Tel Aviv, Israel, announced the launch of a new cloud-based eFLOW AP solution, which will be integrated with SAP Business One. This deployment will allow Top Image Systems to offer end-to-end automated invoice processing to a broader range of AP professionals. For organizations using Business One, this solution, which can be accessed via a web browser, will enhance processing efficiency, expand AP staff performance, help reduce risk, and improve response times. The eFLOW AP solution automates the collection and extraction of invoice data in the cloud, and will match that data with SAP Business One’s master data.
MasterCard Announces New Blockchain Technology for B2B Transactions
Card giant, MasterCard recently announced the availability of its blockchain technology solution via its API. Through the MasterCard blockchain technology, payment details will only be shared between transaction participants and will provide a fully auditable ledger of those transactions. MasterCard has integrated the blockchain with their payment network of 22,000 financial institutions. This combination should offer partners more flexibility, while also providing a safer and more secure solution. MasterCard announced that it will initially implement the technology in the B2B space, with the hope that it will complement their existing capabilities, like their virtual cards, to support cross-border, B2B payment flows.
BlueSnap Announces New Payment Platform for Businesses
BlueSnap, an eCommerce payments services provider headquartered in Waltham, MA, recently announced a new all-in-one Payment Platform to help B2B merchants accelerate commerce and accept payments from different channels. The new platform consolidates the payment process through a virtual terminal. Users can start processing payments immediately since the platform comes with 100+ integrations to CRM Software like Hubspot or Salesforce, and online shopping carts like Magento, WooCommerce, and Prestashop. The consolidated payment processing solution is also linked to a merchant bank account and to BlueSnap’s network of acquiring banks. This will let businesses process payments locally and reduce instance of false declines.