stock Exchange rolled out its integrated payments offering Emburse Pay – B2B Payments, which allows employees to control and monitor invoice approval and payment workflow from start to finish, according to Wednesday, June 16. ad.
“Our suite of Emburse Pay solutions was designed to streamline what has traditionally been a time-consuming and inefficient process: the manual reconciliation of corporate payments.” Rajeev Subramanyam, Managing Director of Emburse Pay, said in the announcement. “In B2B payments, we have taken what has traditionally been a very cumbersome process and integrated it into the workflow of our AP solutions.
Emburse Pay – B2B payments will save entities time, reduce expenses, increase efficiency and improve user experience. Emburse Chrome River Invoice customers can currently use the new offering, while more Emburse customers will be able to use it in the coming months.
WEX serves as the “launch partner” on the offering. To this end, service company FinTech will offer in-depth virtual cards, checks and automated clearing house (ACH) services that will be seamlessly integrated with Emburse’s AP offerings.
“Partnerships are essential to WEX’s strategy, and we are delighted to work with Emburse to bring this new offering to market.” Jay dearborn, president of corporate payments at WEX Inc., said in the announcement. “Emburse understands the importance of investing in digitalization as it aims to improve seamless customer experiences for ACH, check or virtual card payments. “
Beyond Emburse Chrome River, Emburse offers solutions such as Emburse Cards, Emburse Certify and Emburse Captio.
The news comes after Emburse launched Emburse Audit to help entities ensure expense reimbursement is accurate and in line with policy.
This solution uses machine learning (ML) in addition to a team of human auditors to save time, eliminate unnecessary expense, ensure compliance and reduce fraud, according to an announcement in May.