The NBA’s Orlando Magic may not be the first franchise that comes to mind when one thinks of B2B payments technology, but Viewpost changed that with its announcement Tuesday (Dec. 20).
The invoicing and corporate cash management firm revealed that the NBA team is now using Viewpost to manage its own supplier payments needs, enabling the franchise to send digital invoices to its corporate clients and accept electronic payments. The Orlando Magic is also receiving invoices from its own suppliers and using Viewpost’s invoice management solution to send payments with included remittance data, the companies said.
Altogether, online invoices and payments sent on Viewpost to and from the Orlando Magic total more than $54 million, the firm added, with the Orlando Magic’s own corporate clients, including Pepsi, Walt Disney, JPMorgan Chase, Fox Sports and others.
“Viewpost is like Facebook for B2B payments,” said Orlando Magic Vice President of Finance Jeff Bissey in a statement. “It gives trading partners the ability to connect and gain immediate visibility into billing and payments data. On their secure network, we’re connecting online with our suppliers and corporate customers to streamline our processes and optimize cash performance.”
The Orlando Magic first began using Viewpost in 2015 but, according to the announcement, is now using the entirety of the Viewpost suite of solutions to manage its own procure-to-pay and invoice needs.
“The partnership serves as an example for professional sports organizations and for any business seeking to unlock opportunities to eliminate transactional friction and improve trading partner relationships,” the firms said.
In another statement, Max Eliscu, CEO of Viewpost, also noted that it is providing Orlando Magic suppliers with financing via its dynamic discounting solution.
“As is the case with any business, professional sports teams look for ways to improve efficiency, cut costs and capitalize on opportunities to earn greater returns,” he said.