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Old-school business-to-business (B2B) transaction methods like sending and waiting on checks and physical invoices are more difficult to stick with now that many offices are closed and financial teams are working from home. Businesses have gone back to the drawing board to rethink their payments approaches during the COVID-19 pandemic.
Crowdz Pilots Invoice Crowdfunding. With its new platform InvoiceXchange, B2B payments and invoicing company Crowdz has begun enabling its business clients to crowdfund their unpaid invoices as an alternative to traditional trade financing products. Vroozi, Stratas Embrace Vendor Collaboration.
Accrualify provides procure-to-pay solutions, including vendormanagement, accounting, spend management and other features, looking to fill gaps left by other P2P solutions. The firm provides add-on services, including invoice automation, payments, purchase order management and accrual management.
We detected this fraud against our vendormanagement team and promptly alerted the authorities,” a Google spokesperson said. “We The DoJ alleges that the man, Evaldas Rimašauskas, used a business email compromise (BEC) scam to trick Facebook and Google into paying fake invoices, impersonating manufacturer Quanta Computer.
Maintain Accurate Inventory : Maintaining an accurate inventory of invoiced items is central to spend management. Establish VendorManagement Protocols : CFOs should establish clear vendormanagement protocols, including thorough due diligence, contract negotiation, and performance evaluation.
Then, there are events like the Target breach, a security lapse rooted at one of the retailer’s suppliers, that resulted in millions of dollars in costs to the company. Earlier this month, FICO revealed plans to roll out a new kind of score: the Enterprise Security Score.
It isn’t paper free in many cases, because invoices are still drafted on them. That’s why the PayMate platform, built on top of the fast and secure payments rails in India, can layer on services like vendormanagement, vendor payments, customer payments , invoicing, supply chain financing options and terms marketplace.
The nonprofit industry has a lot to gain from this payment technology, claims a new whitepaper from vendormanagement consulting firm Vendor Centric. But what a commercial card can’t do as well as a virtual card is security. Nonprofits are well-positioned to benefit from virtual credit cards,” the report concluded.
An India-based startup helping businesses better manage their suppliers has raised new funding from investors. Reports on Wednesday (July 13) revealed SirionLabs secured $12.25 SirionLabs provides multinational companies with a way to manage and analyze supplier contracts and provide auditing and other solutions with the information.
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