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!
Basware Integrates eInvoicing and Receiving with Oracle Cloud
Earlier this month, Basware, the global financial supply chain provider, announced that its e-Invoice Sending and Receiving solutions have successfully achieved “Integrated with Oracle Cloud” status, and are now available in the Oracle Cloud Marketplace. The Oracle Cloud Marketplace allows Oracle customers to search for business applications and service providers offering unique business solutions, including ones that extend Oracle Cloud Applications. It offers an intuitive user interface to browse and search for available applications and services, as well as user ratings and reviews to help customers determine the best business solutions for their organization. Basware’s integration should now offer added value to those Oracle Financials Cloud customers.
Tipalti Surpasses $8 Billion in Annual Transactions
Earlier this week, Tipalti, a global payables automation platform with headquarters in San Mateo, California, announced that it has surpassed $8 billion in annual transactions. This milestone was reached as Tipalti more than doubled new customer and business bookings in the first half of 2019 compared to the first half of 2018 and maintained best-in-class customer retention rates of 98%. The company saw an increase of 250% in customer bookings in the first half of 2019 compared to the first half of 2018. Tipalti’s FX services revenue increased 103% in this time frame, with their Multi-FX product launch. Tipalti grew its employee headcount by over 60% between July 2018 and July 2019 at its San Mateo, California and Israel offices. The company also established a new, larger office in Tel Aviv/Herzliya that increased office space by 267% and is currently working on expanding its global headquarters in San Mateo.
OpenText, MasterCard Drive Supply Chain Finance for Global Auto Industry
OpenText (NASDAQ: OTEX), an Enterprise Information Management (EIM) solution provider based in Ontario, Canada, and global payment card/services provider, MasterCard, recently announced a partnership to drive financial efficiencies across global supply chains within the automobile manufacturing industry. This is the first use case for the partnership that seeks to increase speed, compliance, and security for stakeholders as they transfer information, payments, and financing to one another across the global automotive supply chain. The partnership will integrate OpenText’s Business Network with MasterCard’s Track B2B global trade enablement platform to deliver the best of both worlds: access to vast networks of automotive suppliers that have the ability to access and manage their own profiles, and established methods to transact and conduct supply chain financing for buyers and suppliers.
Dust Identity Raises $10 million for Supply Chain Traceability Venture
And lastly, local tech startup, Dust Identity, recently received $10 million in Series A funding from Kleiner Perkins and the venture capital arms of Lockheed Martin and Airbus. The Framingham, MA-based solutions provider specializes in using minuscule diamond dust particles that are unique in their nature to link physical objects with digital records. The Diamond Unclonable Security Tag (DUST) solution works in tandem with optical scanners and cloud-based IT infrastructures, and can ultimately link to Blockchain-based DLT and “alternate frontier software platforms” to link digital supply chains with their physical, high-value objects. It will use this round of funding to further develop its unique supply chain track, trace, and product-verification tool, which would have wide application across heavily-regulated manufacturing industries, like the aerospace and defense, automotive, and consumer/commercial electronics sectors.
Download the ePayables Technology Advisor Today
Are you an AP or finance professional currently navigating (or looking to navigate) the ePayables provider landscape? If so, consider download The 2019 ePayables Technology Advisor report. This report analyzes and assesses the primary ePayables solution providers in the marketplace today and is designed to serve as a resource in 2019 for AP organizations seeking to automate and transform their invoice and payment processes. Readers will be able to use this report to identify, and ultimately select the ePayables solution that best aligns with their specific requirements and budget. Click here to download your copy today!
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