Today in B2B payments, American Express enhances its early B2B payment solution, and payroll provider Paylocity strikes an acquisition deal. Plus, Allied Irish Bank strengthens its receivables finance offering, PwC develops data capture solution and BlackLine modernizes the cloud.
American Express has enhanced its Early Pay system with digital payment features aimed at giving large businesses greater control over their ability to make and receive B2B payments, the company announced Monday (Nov. 16). “As we continue to focus on enabling digital payments beyond our traditional Corporate Cards, we are investing in solutions to improve the buyer and supplier experience and help solve common B2B payment-related pain points,” said Daniel Brachfeld, vice president for supply chain solutions at American Express.
Paylocity, a provider of cloud-based human resources (HR) and payroll software, has inked a deal to acquire Samepage and its work collaboration and task management platform, according to a press release. Through the deal, Paylocity will expand its “product functionality” in the areas that Samepage’s software focuses on, “task management, file sharing” and “real-time document collaboration,” the companies said in the release. Terms of the deal were not disclosed.
HPD LendScape has announced that Allied Irish Bank (AIB), a client, has transitioned to HPD's cloud-hosted program for the company's receivables finance operations, according to a Monday (Nov. 16) press release. With that migration, AIB's whole U.K. and Republic of Ireland receivables finance programs can now be accessed online, hosted securely by HPD LendScape. In addition, a software update to AIB's LendScape solution allows a one-stop package for receivables finance features including a web portal for the bank's small to medium-sized enterprise (SME) customers allowing for better user experience and better offers for funding access, the release notes.
PwC has spun out its technology for proprietary intelligent data capture to help create a new business, LIKEZERO, focused on next-generation data capture, a press release says. The new development comes from a management buyout by Souter Investments, a private equity-focused family investment office, and Manfield Partners Limited. According to the press release, LIKEZERO will help to boost a new, more intelligent level of insight, helping banks, financial institutions (FIs) and other regulated businesses to analyze and extract insight and data from clients' clients. That aims to boost their risk management and contract governance, transformation and remedial activities.
BlackLine, which provides account automation software, launched new products on Monday (Nov. 16) to continue helping modernize cloud operations, according to a press release. Among the tactics likely to be used for B2B payments are cash application to simplify the order process through automation, account analysis to do away with risk, allowing for action plans to analyze transactions, a new user interface to help with a more streamlined user experience, and better application programming interface (API) integration, which could better bolster communication and workflows, per the release.