Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable, B2B Payments, or Spend Management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Kyriba Launches Payments Network
In the news this week, Kyriba, a global provider of cloud-based treasury, cash, and risk management solutions and headquartered in San Diego, announced the launch of the Kyriba Payments Network to help address a growing CFO mandate to combat payments fraud, centralize payments, and unlock organizational efficiency. The new payments network will provide businesses with real-time fraud detection and access to machine learning-driven payments anomalies detection. The network will also help accelerate corporate ERP cloud migration projects, streamline global bank connectivity, and format transformation projects.
SAP Concur Partners with HDFC Bank, MasterCard on T&E Payments
HDFC Bank, MasterCard and travel and SAP Concur, the expense and invoice management solution provider, have entered into a partnership for spending management services for the corporate sector. HDFC Bank, which is India’s largest private sector bank, announced the launch of a new corporate credit card for business travelers which will cover payments and expenses during business trips. The corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency. The card will be supported by the card giant MasterCard. The new corporate card solutions will better capture and consolidate accurate financial reporting, and enable deep analysis for greater cost savings.
Rapyd and Visa Partner to Drive Adoption of Fintech Services Globally
Rapyd, a global B2B Fintech as a Service provider, this week announced a new agreement with Visa to help Rapyd expand its worldwide business operations. Rapyd will collaborate with Visa to offer fintech and payment services where both firms see opportunities to help businesses expand core offerings with more expansive local and cross-border market solutions. Rapyd’s unified cloud-based platform helps businesses quickly integrate Fintech and payment capabilities into any commerce application. As a part of the new partnership, Rapyd will be able to issue a virtual Visa card to be utilized by gig-economy workers to purchase goods on behalf of the platform.
Accenture Launches Blockchain-based Supplier Network for Internal Use
In late January, Accenture, one of the world’s largest auditing, management consulting, and technology integration firms, announced that it has launched a Blockchain-based supplier discovery, approval, and onboarding platform for internal use. Dubbed the True Supplier Marketplace, Accenture buyer teams now use this platform to vet, approve, and onboard the many suppliers with which the company contracts in the course of its daily operations. The Platform is the product of a collaborative effort between the Accenture Technology Blockchain, IT, and Procurement organizations to make the supplier discovery, vetting, and onboarding process more efficient, less time intensive, less costly, and ultimately more compliant. The True Supplier Marketplace also connects to Accenture’s SAP ERP system, and enables pre-population of supplier contracts and invoices, which can have significant downstream effects in the form of greater efficiencies and accuracy, faster lead times, and more timely payment to suppliers. Accenture is reportedly seeking a patent on the technology, signaling its intent to offer the True Supplier Marketplace to customers.
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