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!
Tipalti Launches New Solution for Global Payments
Tipalti, a global payables automation platform, this week announced the launch of Multi-FX, a new offering that further streamlines the global payables process for modern finance teams. The new solution will give Tipalti customers the ability to fund their virtual Tipalti account once in a single currency, and then be able to convert that money to the necessary local currency before payouts occur. Businesses often need operating accounts in multiple currencies in order to ensure they always have enough funds to cover payments. Companies with multiple subsidiaries often need to regularly fund those diverse geographic divisions so they can make local currency payouts, such as for payroll, taxes, or general expenses. This new solution should help customers as they will no longer need to buy foreign currency on spot in order to execute global payouts. With Multi-FX finance groups can use Tipalti to save significant time that would otherwise be spent working across various banking systems to fund entities and convert currencies prior to making payments. The ability to make seamless international payments in multiple currencies will enable companies to spend time focused on more strategic initiatives.
Basware Ends Discussions with Tradeshift for Acquisition
Basware yesterday announced that it had terminated discussions with Tradeshift in relation to a possible offer to acquire all shares in Basware. These two leaders in the P2P space had been in discussions for months about a possible union between the two organizations. While the Tradeshift – Basware transaction didn’t materialize, both companies remain bullish on the market and their abilities to grow and deliver positive results. We covered this story more in depth in an article here (click to read).
Kyriba Announces New API Integration through Citi Partnership
Earlier this week, Kyriba, a provider of cloud-based treasury, cash, and risk management solutions, announced a new API integration with Citi that will give Kyriba clients access to faster payments, more transparency, and better standardization in over 160 countries and jurisdictions. The API integration will builds upon Kyriba’s connectivity options that help bridge global financial systems so customers can better mobilize cash and liquidity. Joint clients will have access to a fully integrated and digital experience accessing their Citi accounts through their preferred treasury platform. This direct connectivity can mean faster payments and more transparency for corporate treasurers.
PrePay Solutions to Support CountingUp App
In recent news, PrePay Solutions (PPS), a Uk-based leader in prepaid and digital banking services, announced that it would be supporting CountingUp, a provider a of business current account & online accounting application, to become the first mobile bank in the UK to offer invoicing and expense tools. PPS, which is a subsidiary of Edenred, a leading corporate payments organization, last year launched a mobile app that allows small businesses to do banking bookkeeping and manage taxes. Building upon this product offering, the new invoicing and expense tracking tools will be tailored to fit specific needs of small businesses. Users can downloaded the CountingUp app, and utilize it to get an overall look the financial health of their business. The app will automatically provide running tax estimates, create invoices, and generate profit and loss reports. PPS is providing Countingup with the banking infrastructure needed to offer this complete service. Countingup’s customers will now benefit from a cost- and time-effective banking solution.
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