Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, procure-to-pay (P2P), and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable (AP), B2B payments, 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!
Tipalti Passes $5 Billion in Annual Transactions, 3 Million Suppliers on Payables Platform
Tipalti, a payables automation provider located in California, this week announced that it has surpassed $5 billion in annual transactions, with over 3 million suppliers onboarded on the platform. These milestones came as Tipalti more than doubled new business bookings in Q2 2018 versus Q2 2017. The company has also been recognized as an Inc. 5000 company coming in at #1559. During this period of rapid growth, including Tipalti’s most recent $30 million Series C round of funding in February (which Ardent Partners covered here), the fintech provider has also moved into a new office space in San Mateo to accommodate the expanding team.
Century Business Solutions Introduces New Payment Integration Enhancements for NetSuite
Century Business Solutions, a provider of integrated payment processing solutions, has announced new payment integration updates and customer payment portal enhancements for its EBizCharge for NetSuite payment integration. EBizCharge for NetSuite gives businesses the ability to accept credit cards, debit cards, and ACH checks directly within the NetSuite software. Embedding payment processing into NetSuite can provide visibility into transactions and improve accounting workflow. Through this integration, invoice information that is already stored within NetSuite, will automatically be sent to the EBizCharge payment gateway. EBizCharge utilizes encryption and tokenization to prevent card information from being stored in its original format. Businesses will now have a more secure way to process their payments within NetSuite. Century is also introducing a customer payment portal called EBizCharge Connect for NetSuite. This portal, which is complimentary, will allow merchants to upload invoices to the web-based portal. Users will be able to log in and make invoice payments. Invoices paid through the portal can be applied back to NetSuite.
Tungsten Network Launches New Purchase Order Delivery Service
Tungsten Network, the global business transaction network, has launched a new purchase order (PO) delivery and acknowledgement service for its customers. This new service will enable Tungsten Network users to send POs digitally, and allow recipients to either accept, reject, or amend those POs with responses returned in near real-time. The service should help improve the first-time match rate between invoices and POs, which should speed up the invoicing process and reduce the number of errors. Users will be able to upload POs directly into the Tungsten digital platform, removing any manual entry.
GoCardless Integrates with Xero to Go International
Earlier this month, GoCardless, a UK-based online payments service announced it has integrated with Xero, a New Zealand-based provider of ERP software for SMBs to help small businesses in Australia to automate their payment collection and reconciliation via Direct Debit. This integration should help SMBs improve cash flow, and reduce administration for businesses. Users will be able to collect payments automatically as soon as they are due. User’s GoCardless and Xero accounts will automatically connect, meaning there is no additional configuration required. GoCardless and Xero had initially integrated last year in the UK, and are connecting again to launch in Australia.
Walmart India Activates Unified Payments Interface on its B2B eCommerce Platform
Ardent Partners has recently learned that Walmart India has activated a Unified Payments Interface (UPI) solution for all of its registered members. The UPI will enable members on Walmart’s B2B eCommerce site to make direct and secured payments online. These payments can be made from members bank accounts without having to share bank details. The new payment option is in addition to other payment modes like credit or debit card, net banking, and e-wallets. Walmart India expects the UPI system will help boost online transactions and help continue to digitize business in India.
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