Emburse Pay - B2B Payments to Deliver First Fully Automated Purchase Order-to-Payment Processing

Rhea-AI Summary

Emburse, a leader in expense management, has launched Emburse Pay - B2B Payments, an integrated solution designed for corporate accounts payable teams. This offering aims to enhance efficiency by streamlining invoice processing and reducing reliance on physical checks, thereby optimizing cash flow and enabling organizations to take advantage of early payment discounts. WEX is the launch partner, providing comprehensive payment services integrated into Emburse’s solutions. This product is currently available for Emburse Chrome River Invoice customers.

Positive

• Launch of Emburse Pay - B2B Payments enhances efficiency in accounts payable.
• Integrated solution streamlines invoice approval and payment processes.
• Reduces reliance on physical checks, allowing for better cash flow management.
• Partnership with WEX adds value through comprehensive payment services.

Negative

• None.

Emburse, a global leader in expense management and accounts payable automation, announces the launch of Emburse Pay - B2B Payments, delivering strategic spend management for corporate accounts payable teams. Emburse Pay - B2B Payments provides an integrated payables solution for teams to easily manage and track the entire invoice approval and payment process.

Emburse Pay - B2B Payments will allow organizations to save time, lower costs, increase efficiency and enhance the user experience. Finance teams can more easily track and confirm receipt of payments, reducing potential delays and friction with vendors. Reducing the need to print and mail physical checks by leveraging payments technology such as cards and ACH enables organizations to maintain better control of the payment process and timing and manage spend strategically. In addition, the ability to rapidly process invoices, coupled with the ability to pay in one system, enables organizations to optimize cash flow and take advantage of rebates and discounts.

“Adding Emburse Pay - B2B Payments to Chrome River Invoice was a natural next step for us. After seeing the benefits of increased efficiency and error-free payment processing, we were excited to roll out B2B Payments and complete the AP lifecycle in an automated fashion,” said Marissa Navarro, controller at Mitchell Silberberg & Knupp LLP.

“Despite the massive push toward digital transformation during the pandemic, most organizations continue to pay vendors using physical checks. In addition to it being an incredibly inefficient and error-prone process, finance teams are missing out on huge cost-saving opportunities through early payment discounts and card rebates,” said Rajeev Subramanyam, general manager of Emburse Pay. “Our Emburse Pay suite of solutions was designed to streamline what has traditionally been a time-consuming and inefficient process - manually reconciling corporate payments. In B2B Payments, we have taken what has traditionally been a very cumbersome process and integrated it into our AP solutions’ workflow.”

WEX, a global financial technology services provider, is the launch partner on Emburse Pay - B2B Payments. WEX will provide comprehensive virtual card, check and ACH services, which are seamlessly integrated into Emburse’s AP solutions.

“Partnerships are key to WEX’s strategy, and we are thrilled to collaborate with Emburse to bring this new offering to market,” said Jay Dearborn, president of corporate payments at WEX Inc. “In a recent WEX survey, 42% of executives identified modernizing technology and platforms as their post-pandemic priority. Emburse understands the importance of investing in digitization as it aims to enhance seamless customer experiences across ACH, check, or virtual card payments.”

Emburse Pay - B2B Payments is currently available for Emburse Chrome River Invoice customers, and will be available for additional Emburse customers in the coming months.

About Emburse

Emburse humanizes work by empowering business travelers, finance professionals, and CFOs to eliminate manual, time-consuming tasks so they can focus on what matters most.

Emburse offers a growing portfolio of award-winning expense and AP automation solutions, including Emburse Abacus, Emburse Captio, Emburse Certify, Emburse Chrome River, Emburse Cards, Emburse Nexonia, Emburse SpringAhead and Emburse Tallie. Its innovative offerings are tailored to meet the unique needs of specific industries, company sizes, and geographies, and are trusted by more than 9 million users in more than 120 countries. Over 16,000 customers, from start-ups to global enterprises, including Boot Barn, Grant Thornton, Telefónica, Lufthansa Systems, and Toyota rely on Emburse to eliminate manual processes, make faster, smarter decisions, and help make users’ lives - and their businesses - better.

Emburse is recognized as a leader in expense management and accounts payable automation by analyst firm IDC, and has received multiple awards for its high levels of customer satisfaction.

For more information on Emburse, visit emburse.com, call 877-EMBURSE, or follow the organization’s social channels at @emburse.

About WEX Inc.

Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, corporate payments, travel and health. WEX has offices in more than 10 countries and employs more than 5,200 associates around the world. WEX fleet cards offer approximately 16 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions was $20.9 billion in 2020 and was processed in over 20 currencies; our health division provides consumer-directed healthcare technology and services, and reached an estimated 34.3 million U.S. consumers as of March 31, 2021. For more information, visit www.wexinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616005311/en/

FAQ

What is <i>Emburse Pay - B2B Payments</i>?

Emburse Pay - B2B Payments is a new integrated solution launched by Emburse to streamline accounts payable processes, enabling organizations to manage and track payments efficiently.

Who is the launch partner for <i>Emburse Pay - B2B Payments</i>?

WEX is the launch partner, providing virtual card, check, and ACH services integrated into Emburse's accounts payable solutions.

How does <i>Emburse Pay - B2B Payments</i> improve payment processes?

The solution reduces the need for physical checks, streamlines invoice processing, and helps organizations take advantage of early payment discounts and rebates.

Who can access <i>Emburse Pay - B2B Payments</i>?

Emburse Pay - B2B Payments is currently available for customers using Emburse Chrome River Invoice, with plans for broader availability in the future.