Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable, 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!
Coupa Announces New Product Innovations
Coupa Software (NASDAQ: COUP), the San Francisco-based provider of business spend management (BSM) solutions in the cloud, this week announced its latest product innovations for its BSM platform. Some of the new capabilities will leverage community intelligence, powered by artificial intelligence (AI), and enhanced global compliance capabilities to empower businesses to manage their global business spend in a simpler, safer, and smarter way. New capabilities in the Coupa BSM Platform will enable finance teams to focus on preventing fraud. Coupa Spend Guard leverages AI from the Coupa community to analyze employee behaviors across all spend applications and signal areas of risk. Users will be able to focus on real-time fraud prevention across transactions. Also announced were new P2P and supplier management enhancements to simplify the employee and supplier user experience. Invoice Payments will enable businesses to manage their money smarter, and innovations within Coupa Open Buy, bring an improved Google-like search experience to cross-catalog search, with no need to punch-out. Lastly, new global compliance controls will enable businesses to manage new and complex market specific compliance requirements.
Kofax Announces Acquisition of Top Image Systems
Earlier this week, Kofax, a payments automation software provider headquartered in Irvine California, announced the acquisition of Top Image Systems (NASDAQ: TISA), a document processing solutions company based in Tel Aviv, Israel. Top Image Systems provides on-premise and cloud-based applications that automatically capture, process, and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data and delivering it, with minimal manual handling, to the relevant business system or person. Kofax will look to leverage TIS’ SaaS expertise and help further advance the secure cloud capabilities of its Intelligent Automation platform. Together the companies will be able to provide a broader and deeper range of offerings to customers. The transaction is expected to close by the end of Q2, 2019.
American Express and Bill.com Partner on New Vendor Pay Solution
Global card giant, American Express and Bill.com this week announced a new strategic partnership with a new offering: American Express “Vendor Pay” by Bill.com. Bill.com is a cloud accounting solution provider designed for SMB’s, with headquarters in Palo Alto, California. Vendor Pay couples automating the AP process with the ability for businesses to pay vendors with their American Express Business or Corporate Card, without having to set up a new Card account. With the new solution, businesses can now reconcile payments, improve working capital and cash conversion cycles, and provide better data for payment reconciliation. All of this, while also helping businesses earn the rewards of the Business or Corporate Card. Users can pay bills with more control and visibility over the AP process, from an online dashboard. In addition to paying vendors via virtual account numbers, the partnership with Bill.com will also provide American Express Business and Corporate Card Members the option to pay with Bill.com’s ACH and check services. Card members will have a central platform for managing digital business payments via Bill.com.
Yooz Announces Expansion into the UK
Yooz, the global P2P solution provider with North American headquarters in Texas, has this week announced the launch of its cloud-based ePayables solution in the UK. For its solution, Yooz leverages advanced technologies, such as artificial intelligence, robotic process automation (RPA), machine learning, deep learning, and incremental learning, to automate invoice processing for businesses of any size or industry. Yooz already has more than 100,000 users globally using its technologies to automate the AP process. Yooz has experienced great growth over the last year, and the company felt it was the perfect time to launch its solution in the UK.
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