M3 and Edenred Pay Partner on Financial Solutions for Hospitality Businesses

M3 and Edenred Pay, an Edenred company, have partnered to deliver financial solutions to hospitality businesses.

The collaboration will combine M3’s financial management platform for the hospitality industry with Edenred Pay’s payment automation solutions and will deliver solutions tailored to this sector’s unique needs, the companies said in a Monday (March 17) press release emailed to PYMNTS.

“This partnership with Edenred Pay aligns perfectly with our mission to empower hoteliers with cutting-edge tools that drive efficiency and profitability,” M3 President Casi Johnson said in the release. “Together, we’re offering an all-in-one solution that streamlines financial management and positions our customers for long-term success.”

M3’s platform is used by more than 1,000 management groups and owner-operators, according to the release.

Edenred Pay’s platform automates, optimizes and monetizes the invoice-to-pay cycle, from invoice receipt through payment reconciliation, per the release.

The partnership of the two companies will deliver benefits to hospitality businesses by automating manual back-office tasks, enhancing security measures, providing real-time financial insights through intuitive dashboards and analytics, and streamlining supplier payments, the release said.

In addition, the partnership will enable these businesses to gain cash-back rebates on virtual cards and Edenred Pay Network payments, per the release.

“Edenred Pay is committed to transforming financial operations by making supplier payments seamless, secure and value driven,” Edenred Pay General Manager Alex Hoffman said in the release. “Our partnership with M3 brings this vision to the hospitality industry, empowering hoteliers with a smarter, more automated approach to financial management.”

Using advanced technologies, especially generative artificial intelligence, will have a seismic impact in the back office, Hoffman told PYMNTS in an interview posted in January.

“For a long time, the industry has offered up paperless alternatives to payments,” including virtual cards, and real-time payments are poised to gain even more traction, he said. “What GenAI adds on top of all this is that beyond the payment, we can automate the invoice-to-pay cycle.”

In the hospitality space, for example, Edenred Pay has sought to simplify general ledger coding and high transaction volumes that occur across diverse revenue streams, including food, beverage and bookings, Hoffman said.