Today In B2B Payments: SAP Collabs On Supply Chain Tech; BMO Forms SMB Banking Team
Today in B2B Payments, SAP inks a partnership to enhance integrated supply chain management. Plus, Emburse introduces new card technology to manage small business expenses, Canada’s BMO forms a new SMB banking team, and Teampay collaborates to enhance spend control and compliance through closer ties between finance and legal teams.
SAP SE and Qualtrics, an SAP company, have introduced a new offering that provides entities with the power to find pivotal areas of improvement throughout the source-to-pay workflow to save more money, secure pivotal supply, bolster corporate flexibly and assuage risk, according to a Wednesday (Oct. 28) announcement. The Qualtrics XM for Suppliers offering brings together information from an entity’s SAP S/4HANA, SAP Fieldglass and SAP Ariba platforms with in-the-moment vendor analysis and artificial intelligence (AI)-powered intelligence from Qualtrics, the announcement stated.
Expense management and accounts payable (AP) automation company Emburse has rolled out Emburse Cards and Tallie Travel to offer a simple way for clients to handle their travel and out-of-pocket expenditures, according to a Wednesday (Oct. 28) announcement. Emburse CEO Eric Friedrichsen said in the announcement that “duty of care” and “cost control” are essential parts of any entity’s travel program as business travel resurfaces. But he noted that small companies have had to decide between harnessing consumer cards and travel reservation systems or corporate systems that weren’t best set to meet their unique requirements for “too long.”
Canada-based bank BMO is launching a new support system for the country’s small businesses during the pandemic, through help from a dedicated banking team, a press release says. The release says the team will focus on both urban and rural centers, and will work with new innovative technology like BMO Business Xpress, an onboarding platform for small businesses. The group also intends to work with partners in retail, wealth and Canadian commercial banking, the release says, to support businesses in various segments.
Distributed spend management platform Teampay will be integrating with Ironclad, a digital contracting platform, to help connect financial and legal workflows and streamline spend management, according to a Wednesday (Oct. 28) press release. The integration and streamlining will help to ensure employees are compliant with policies, removing the responsibility previously placed on individual business owners who were expected to memorize complex and varied policies, systems and procedures on spend management. Previously, the release notes, companies needed a contract to be signed. Now, if a contract is needed, Ironclad’s platform will handle it automatically.