B2B Payments Today: Businesses Upgrade Spend Management Controls; Hello Raye Launches 3D Rendering SaaS Tool

Businesses Upgrade Spend Management Controls

Today in B2B payments, 36% of businesses will upgrade spend management and expense controls, and furniture buyers and manufacturers can now access Hello Raye’s 3D rendering Software-as-a-Service (SaaS) tool. Plus, CredAble is underwriting loans for small- to medium-sized business (SMB) supply chain vendors, Cape and Basiq are teaming on Startup Launchpad, and is Goodyear customizing its Tire CheckPoint reader for fleet use.

New Report Shows 36% of Businesses Plan to Upgrade Spend Management, Expense Controls

As accounts payable (AP) automation is set to double over the next five years to $4.5 billion, 36% of U.S. and U.K. businesses said they planned to upgrade their spend management and expense controls, according to PYMNTS data. Almost half (46%) of firms will enable payments from digital invoices in the next three years.

The PYMNTS’ August Corporate Spend Playbook, which analyzes how companies’ spend management needs have changed in the past year, also examined the benefits of automating budgeting and spend solutions.

B2B Site ‘Hello Raye’ Unveils 3D Rendering SaaS Tool for Furniture Buyers, Manufacturers

B2B furniture marketplace Hello Raye has launched a new web-based tool dubbed Snapshots that lets commercial buyers and sellers who use its site take an existing 3D file, customize it, and then use it to show customers the furniture of their choice in an immersive setting.

Snapshots users can customize an image with their choice of color, material, finish and sheen and group multiple images so that they and their customers can visualize different products or altered versions of the same product together and compare them side by side.

Buyer ‘Anchors’ Are ‘The New Oil’ for SMB Supply Chain Financing in India

Indian capital financing startup CredAble is underwriting loans for SMB supply chain vendors by leveraging its relationships with buyers and its business track record to hedge against risk.

A lack of access to reliable credit sources is holding back India’s SMB space, CredAble Executive Vice President and Head of Credit Ranjit Singh told PYMNTS. Without access to capital, many smaller suppliers can struggle to fulfill large orders, to the detriment of the customers they supply.

Corporate Card Platform Cape and Open Banking Firm Basiq Partner on ‘Startup Launchpad’

Australian spend management platform Cape is teaming up with open banking platform Basiq on Basiq’s newly launched Startup Launchpad.

Basiq’s open banking technology will be integrated into the Cape application and risk analysis process as part of the partnership, which will help SMBs speed up the process of connecting their bank account and immediately verifying their identity along with account and income data with Cape, leading to a quicker credit review and faster access to credit.

Goodyear to Customize Tire CheckPoint Reader for Fleet Use

Goodyear will offer customized leasing options for its Goodyear CheckPoint drive-over reader device, making Goodyear CheckPoint available for any Goodyear national account fleet in the U.S. and Canada.

It will make it so anyone working with Goodyear can “explore use” of the device and access payment options for their devices.