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. You can jump to specific news items by clicking the links below. Thanks, and enjoy!
Tipalti Integrates with NetSuite to Enhance Supply Chain Payables
Chrome River Launches New Global Expense Management Service
U.S. Bank Corporate Travel Card Expands to MasterCard Corporate
Payments Provider Candex Raises $3.5M
Contguard Receives Investment from Citi Ventures
Tipalti Integrates with NetSuite to Enhance Supply Chain Payables
Tipalti, a payables automation solution provider, recently announced the integration of its purchase order (PO) matching and multi-entity capability with NetSuite, a cloud-based ERP provider. The integration will build upon NetSuite’s existing PO creation capability, and include automation of two-way and three-way matching processes. Tipalti automatically syncs POs from NetSuite and then updates PO and bill statuses and amounts in NetSuite. The multi-entity integration syncs Tipalti’s payables management capability with subsidiary instance ledgers in NetSuite OneWorld. This will help deliver instant and automated cross-payment method payment reconciliation. With automated syncing between the two companies, it will give users from mid-market companies a greater ability to reduce the time spent on invoice approval. It will also help maximize early payment revenue opportunities by shortening the invoice to payment cycle time.
Chrome River Launches New Global Expense Management Service
Earlier this week, Chrome River, a provider of expense and invoice management solutions, announced the launch of a new alliance with PricewaterhouseCoopers (PwC) that will deliver global templates for expense reimbursement compliance to its customers. Chrome River will also offer VAT and other country-specific data (provided by PwC) in templates for customers to utilize in their international subsidiaries. Chrome River customers that are implementing expense management programs will now have access to international templates that leverage taxation and regulatory insight from PwC. Customers can subscribe to receive automatic updates on a variety of tax and regulatory expense data points. This includes VAT, mileage reimbursement, and meals and lodging rates. This data will help customers follow recovery rules and the different global regulations that relate to employee expenses.
U.S. Bank Corporate Travel Card Expands to MasterCard Corporate
The Minnesota-based financial Institution, U.S. Bank, recently announced the expansion of its Corporate Travel Card mobile capabilities to MasterCard corporate card transactions. Clients whose business travel cards run on the MasterCard network will now be able to pay for purchases via mobile devices. U.S. Bank now offers secure mobile payments for all corporate travel cards issued in the United States. Last year, U.S. Bank announced that it would be enabling commercial cards for use on Apple Pay, Android Pay, and Samsung Pay. U.S. Bank said its focus would be on mobile B2B payments capabilities on the corporate travel segment first.
Payments Provider Candex Raises $3.5M
Candex, a California-based B2B payments provider, recently announced that it has secured $3.5 million in seed funding from a group of investment firms including Edenred Capital Partners, Partech Ventures, Advisors.Fund, Camp One Ventures, NFX, Tekton Ventures, Big Sur Ventures, and Mark Goines. Candex stated that it plans to use this investment to accelerate its business in Fortune 500 corporate customers. Candex facilitates vendor payments for its users that utilize gig economy services. The solution allows customers to create a private eMarketplace to let employees work with approved vendors.
Contguard Receives Investment from Citi Ventures
Contguard, a provider of supply chain shipment monitoring and business intelligence services, recently announced an investment of an undisclosed amount from Citi Ventures and Canaan Partners Israel. Contguard has developed an “Internet of Things” shipment monitoring solution to provide supply chain managers with data and intelligence for manufacturers and suppliers. The end-to-end service is built upon a cloud-based AI platform that delivers insights about goods in transit. This service provides users with greater transparency and control of their supply chains. This investment will be used by Contguard to help to scale and develop its technology.
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