Today in B2B payments, Centime talks cash flow forecasting, and Paymogy dives into accounts payable transformation. Plus, Fifth Third launches business transition advisory team, Zact collaborates on corporate travel expense management, and Transcard pairs up for early payment discounts.
Cash flow forecasting requires sophisticated data integrations across the back office. Accounts receivable and accounts payable are vital sources of information, but as Centime Founder and CEO BC Krishna told PYMNTS, these workflows can also be profoundly impacted by the insights that robust forecasting technology delivers.
Invoice Stream is set for a revamp following an investment by Paymogy, whose founder, Vaden Landers, will now become interim CEO of the accounts payable automation platform. Virtual cards and ACH may help businesses migrate away from the paper check, but to truly transform accounts payable, Landers says finance leaders need to explore other avenues. He tells PYMNTS how monetization and digitization strategy can result in a more meaningful AP evolution.
Ohio-based Fifth Third Private Bank on Thursday (Aug. 19) announced the creation of the Business Transition Advisory team, a group aimed at readying business owners for the financial and personal responsibilities associated with a business transition, merger, acquisition or initial public offering. Frieda Rakhman, who joined the bank in January, will lead the team. Rakhman brings more than 20 years of financial expertise to the position.
Payments company Zact announced a partnership on Thursday (Aug. 19) with the business travel expense reimbursement platform ITILITE. The two companies said in a news release that the partnership will allow organizations “to seamlessly issue payment cards, make travel bookings and manage employee expense reporting, all from an integrated platform,” calling it the “first fully interoperable travel booking and spend management experience.”
Payments firm Transcard announced Thursday (Aug. 19) it was working with the embedded finance Previse on a new early payment discount solution. According to a company news release, the partnership will involve Previse embedding its early payment discount solution in Transcard’s SMART Exchange account-to-account (A2A) payment platform.