Emburse unveils Emburse Pay – B2B Payments, an integrated payables solution
By Pavithra R
Emburse, a global leader in expense management and accounts payable automation solutions has announced 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. It allows organizations to save time, lower costs, increase efficiency and enhance the user experience.
“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. 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,” said Rajeev Subramanyam, general manager of Emburse Pay.
By leveraging the solution, 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. Additionally, 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.
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. 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,” said Jay Dearborn, president of corporate payments at WEX Inc.
Founded in 2020, Emburse offers intuitive, trusted, and powerful expense management and AP automation solutions. Its solutions are designed to meet the demands of the workforce, and its technology empowers employees and keeps spending in compliance. 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.
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