In this morning’s news roundup, we touched on how 20% of the United Kingdom’s workforce is “fiddling” their business travel expenses and Visa Europe’s recent tokenization efforts among other news. Now, in this afternoon installment, we reveal some new partnerships happening across the accounts payable world and Kofax’s latest communication with London Stock Exchange shareholders.
Fuji Xerox Partners With Kofax
The first of our two stories about Kofax is the new deal signed with Fuji Xerox Australia to bring Kofax’s applications to that country. Image and Data Manager magazine reported on the news last week, noting that Fuji Xerox will now be an authorized re-seller of Kofax’s solutions as well as a Platinum partner. Kofax’s solutions revolve around automating what they call the “First Mile” of sales interactions; this includes scan and capture invoicing as well as data analysis and machine learning capabilities. Fuji Xerox’s goal with the new partnership is to offer Kofax solutions to Fuji Xerox clients in a bid to help those enterprise move more fully into a digital workspace. Fuji Xerox has a long history in digital documents, which makes this particular deal very logical. Read the full article at http://idm.net.au/article/0010352-fuji-xerox-partners-kofax.
Citi & Etihad Airways Sign Supply Chain Finance Deal
ArabianSupplyChain.com has the story about Citigroup inking a supply chain finance deal with Ethiad Airways, one of the two state-owned airlines operating out of United Arab Emirates. This is Citi’s first airline-sector supply chain finance deal in EMEA, and is the first SCF deal ever for Ethiad. As with most every supply chain finance deal, the terms of the agreement will allow Ethiad to pay some suppliers immediately and unlock liquidity across its entire supply chain. Supply chain finance in general is a solid way for suppliers to get paid faster and for buyers to extend days payable outstanding through more favorable payment terms with the funding bank. This looks to be a good move for Ethiad—and a nice win for Citi in the EMEA airline sector. Read the full article at http://www.arabiansupplychain.com/article-10950-citi-etihad-airways-sign-supply-chain-finance-deal/.
Comdata, QuikTrip Reach Fuel Payment Deal
According to FleetOwner magazine, Comdata and QuickTrip have agreed to open the Comdata Fuel Consortium to QuickTrip customers. The consortium is a network of 30,000 fuel stations offering an automatic price-per-gallon discount to holders of the Comdata Mastercard Corporate Fleet Card. QuickTrip has 700 fuel stations nationwide, and will provide a 3-cent per-gallon discount to Comdata card holders as part of the agreement. This deal further extends Comdata’s value in the fleet card arena, and places QuickTrip in a more positive light at the same time. Read the full article at http://fleetowner.com/technology/comdata-quiktrip-reach-fuel-payment-deal.
Kofax Publishes Letter to Holders of Depositary Interests on the London Stock Exchange
In a press release, Kofax revealed that they had published a letter to holders of their London-traded stock. Kofax’s board on February 9 approved the cancellation of Kofax’s LSE-traded shares, and the letter sent to LSE depositary holders will provide further information on how to cancel LSE-traded shares and move the money to a brokerage account of a firm authorized to trade on the NASDAQ, where Kofax’s shares will now trade. Read the full release at http://investor.kofax.com/releasedetail.cfm?ReleaseID=897717.
Check out these related articles for more:
Payables News Weekly: UK Employees ‘Fiddle’ Expenses & Sentencing in Delta False-Invoicing Case
Payables News Weekly: Basware Discount and Visa in Russia
Payables News Weekly: Business Travel, American Express, and Apple Pay
Payables News Weekly: Visa and MasterCard in Crimea, and Business Travel Booms in China
Payables News Weekly: Sustainable Business Travel and Google’s New Partner
