B2B Payments

WESCO Partners With Plug And Play On B2B Accelerator

Incubators

WESCO International has announced that WESCO Distribution has partnered with Silicon Valley-based startup Plug and Play to launch their newest accelerator, B2B Sales and Distribution.

Pittsburgh-based WESCO joins as a founding anchor member in the accelerator, which will focus on industry-specific startups and their technologies.

The company is a provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturer (OEM) products, construction materials, and advanced supply chain management and logistics services. WESCO reported around $8.2 billion in sales last year, boasts relationships with approximately 30,000 suppliers, and serves approximately 70,000 active customers worldwide. It also operates ten fully automated distribution centers and around 500 branches in North America and international markets.

“The future of distribution will require new data-driven solutions and services that build upon our historical roots of linking manufacturers to customers in the supply chain. Our alliance with Plug and Play positions WESCO to effectively participate in the digital ecosystem and expand the digitization of our business at a faster rate,” John J. Engel, chairman, president and CEO of WESCO International, said in a press release.

Plug and Play connects startups and leading corporations around the world through industry-specific accelerator programs. Started in 2006, the Sunnyvale, California-based company has built accelerator programs, corporate innovation services and an in-house VC to quicken progress in technological advancements. Its programs are in over 20 locations globally, with over 10,000 startups and 280 official corporate partners.

Through the alliance, WESCO gains access to a global network of startups developing new digital technologies and innovative tools and solutions for the B2B distribution value chain.

“We are excited to have this opportunity to engage with WESCO to facilitate the launch of the B2B Sales and Distribution Accelerator. WESCO’s leading position in wholesale distribution combined with their digital transformation strategy makes them an ideal founding member,” said Saeed Amidi, CEO of Plug and Play.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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