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!
Tradeshift Acquires Cloud Integration Technology Provider Babelway
Tradeshift, the San Francisco based provider of supply chain payments and marketplaces, this week announced the acquisition of Babelway, a provider of cloud integration technology. Babelway, which is headquartered in Belgium, with offices in the US, Australia, and Egypt, offers a SaaS-based integration platform that automates B2B data and documents. The solution allows organizations to automate cross-company processes and enables businesses to connect disparate systems without needing to purchase any additional software or hardware. With this acquisition, Tradeshift will enable businesses to more easily conduct digital global trade directly through its business commerce platform. The Babelway technology will be marketed as “Tradeshift Link”. According to Tradeshift executives, the plan for Tradeshift Link will be to accelerate the integration of disconnected systems that are used for buying, paying, and selling within an enterprise’s digital supply chain. It will also allow banks and third-party app providers to connect to the Tradeshift network, where they will be able to offer financial solutions, like supply chain financing and/or early-payment services.
Kodak Introduces ePayables Solution
Kodak Services for Business, a business process outsourcing and consulting organization within the imaging company Kodak, has recently introduced an invoice processing service to help businesses streamline their AP process. The new AP solution is part of a full range of solutions from Kodak to help digitize and automate business processes. Kodak Services for Business integrates with its partners’ customized solutions to improve business processes for government and private sector customers. The key benefits to customers include a complete end to end cloud-based solution, a transaction-based subscription tiers, significantly reduced hardware or other infrastructure costs, no user license fees, customized approval workflow, reduced errors, reduction in late payment fees, reduced operating expenses and the elimination of paper archives.
Restaurant365 to Offer Full AP Automation
In recent news, Restaurant365, a cloud-based restaurant-specific accounting, back office, and reporting solution provider, released a fully integrated ePayables solution built to help streamline invoice capture, approvals, and payment processing for restaurants. Restaurant365 is the first and currently only company to provide an automated AP solution built specifically for restaurants in a single platform. Electronic invoices flow directly through the Restaurant365 software, which will help streamline the capture and entry of AP invoices and credit memos. Digital conversion will help remove the need for manual data entry or the use of a third-party service. Invoices can now be routed through a new workflow module that is customizable for approvals. Users can also create and send payments for automated delivery through the Restaurant365 platform, and allows for automated payment options.
Signature Bank Introduces Digital Payments Platform
Earlier this month, Signature Bank, a New York-based full-service bank, introduced a new digital payments platform for businesses called Signet. Signature Bank will partner with trueDigital Holdings, LLC, a New York-based blockchain-based infrastructure, exchange and settlement technology company, to provide solutions for traditional and emerging financial markets. The Signet platform, which will leverage blockchain technology and allow for commercial clients to make payments in US dollars 24 hours a day and without a transaction fee, will be open January 1, 2019. Transactions made on the Signet Platform are safe and secure, and settle in real time between commercial clients of Signature Bank, without any dependence on a third party.
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