These are trying times for chief financial officers (CFOs) and other finance professionals. The unpredictable economic impacts unleashed by the pandemic have greatly complicated the task of managing cash flow and working capital. To cite a few examples, manufacturers have had to quickly secure relationships...
J.P. Morgan Chase is working with Siemens to create a blockchain system for the latter company’s payments. As the Financial Times reported Monday (Dec. 20), the two companies say this system is a first-of-its-kind application. Siemens says it needs the upgraded automation to process a...
Business-to-business (B2B) transactions are notorious for various pain points and paper-laden processes that, from invoices to paper checks, result in late, and even lost, payments. Taira Hall, senior vice president of B2B and strategic innovation at FIS, said that embedded finance — integrating payments directly...
Digital wholesale management platform JOOR has added another outfit to its wardrobe. Already serving business-to-business (B2B) buyers and sellers in the luxury spaces, it’s now expanding into bridal. The company announced on Dec. 14 that it will now also focus on bridal salons and their...
Pantera Tools is rolling out its direct invoicing feature, which allows users to consolidate their business systems, according to a Saturday (Dec. 18) press release. Pantera Tools provides software for the construction industry. The company said on its website that one of its goals is...
As companies in Latin America looked for ways to operate with more agility and flexibility during the pandemic, Clara saw an opportunity to provide them with an entire spend management solution. And as many of its customers operate across different countries in the region, the...
To take on the challenges of accounts payable (AP) invoice automation and the insurance submission intake, Kanverse has deployed a product that uses several technologies: artificial intelligence (AI), machine learning (ML), optical character recognition (OCR) and natural language processing (NLP). “It’s actually a hyper-automation platform,”...
For business-to-business (B2B) payments, traditional methods such as checks and wire transfers remain the top choice for most companies, but digital payments are now accounting for a greater share. In fact, 25% of B2B payments are digital payments, the Working Capital Playbook, a PYMNTS and YayPay collaboration, reported. Get the study: Working Capital...
Management and technology consulting company BearingPoint and Swiss financial market infrastructure operator SIX have joined forces to develop a fully integrated invoice-to-payment service that will be rolled out in Europe, potentially in 2023, the companies announced in a press release on Thursday (Dec. 16). The...
