Sage expands partnership with Corporate Spending Innovations, an
Edenred company, to deliver new Vendor Payments offering
Press releaseMarch 10, 2021
Sage expands partnership with Corporate Spending
Innovations, an Edenred company, to deliver new Vendor Payments
offering
Embedded solution enables customers to pay
vendors quickly, save hours on reconciliations, and reduce payment
transaction costs
Sage (FTSE: SGE), the market leader in cloud
business management solutions, and Edenred’s subsidiary Corporate
Spending Innovations (CSI), a leader in electronic B2B payment
solutions, today announced an expanded relationship. The companies
are working together to deliver new vendor payments capabilities
natively within the Sage Intacct cloud financial management system
– providing a seamless experience from bill to reconciliation for
joint customers.
From processing automated clearing house (ACH)
batches to printing and mailing checks, the accounts payable (AP)
process is often time-consuming and costly. Finance teams end up
jumping between multiple systems or getting bogged down in manual
processes to deliver and reconcile vendor payments. With the new
Sage Intacct Vendor Payments powered by CSI, businesses can
streamline and automate their payments process. This solution
brings together Sage Intacct’s best-in-class cloud financials and
CSI’s trusted payments platform to deliver a seamless payments
experience. The new offering enables customers to pay vendors
quickly, speed up reconciliations, and offer more ways to pay – all
while reducing payment transaction costs.
“With the sudden move to fully remote workforces
for many businesses in 2020, CFOs became painfully aware that
digitizing Accounts Payable, especially payments, was an initiative
that should have been implemented years ago,” said David
Disque, President from CSI.
“We believe that more and more businesses will
discover that payments automation is no longer a nice-to-have, but
a must-have. The integration of our B2B payments platform now fully
embedded into Sage Intacct enables companies to embrace technology
and innovation through a single user experience as the payments
ecosystem evolves to meet the changing landscape of digital
business,” according to Jason Kolbenheyer, Chief Product
Officer from CSI.
“Most companies don’t realize just how much time
and money gets wasted in their traditional AP workflows,” said
Dan Miller, Sage’s SVP of Product for Sage
Intacct. “Studies have shown it can cost companies $20 or
more per check to pay vendors and more than 80% of an AP team’s
time is spent on manual transactions and payment processing. Sage
Intacct customers can now leverage CSI’s trusted payments platform
as a seamless extension to their company’s AP team to streamline
the AP process and save money on each vendor payment.”
There are several key benefits to the
new Vendor Payments solution:
One system from invoice to
paymentVendor Payments powered by CSI streamlines existing
workflows, so customers can process everything from bills through
reconciliation without leaving the Sage Intacct experience.
Automating payments and eliminating manual processes, as well as
the opportunities for errors, frees up significant time to focus on
more strategic activities. Users submit their payments in Sage
Intacct and Vendor Payments handles the rest.
Faster reconciliations, less
errorsAP teams can easily match invoices and payments,
saving them time, reducing errors, and simplifying the
reconciliation process. In addition, companies gain full visibility
into the status of all their payments with detailed updates at
every stage, from submitted to paid.
More ways to pay and saveVendor
Payments powered by CSI lets companies pay vendors the way they
prefer, with options that include ACH, printed checks, one-time-use
virtual cards. By no longer having to manually print and mail
checks themselves, companies can see a potential savings of 25
percent or more per payment. In addition, as the payment processor,
CSI can proactively reach out to vendors on a customer’s behalf to
get them on board – saving users the time and effort of reaching
out to every vendor, while providing them an easy way to update
their payment details.
Furthermore, with CSI as the engine behind
Vendor Payments, their trusted payments platform becomes a seamless
extension of your AP team. Your payments are backed by CSI’s
security program, which includes their status as a Mastercard and
Visa certified processor, multiple compliance certifications
(including PCI DSS Level 1 and SOC 2), and encryption for
data-in-transit and data-at-rest.
To learn more, please visit the Sage Intacct
Vendor Payments powered by CSI product page.
AvailabilitySage Intacct Vendor
Payments powered by CSI is currently available to U.S.-based early
adopters and is expected to be generally available to all
U.S.-based customers this summer.
▬▬
Corporate Spending Innovations (CSI), an
Edenred company, provides cloud-based payment solutions to
world-leading brands with our highly secure corporate payment
solutions that include CSI Paysystems, CSI Travel, and global-fleet
fuel cards. CSI customers can automate 100% of B2B payables
including virtual credit card, proprietary network, ACH, check, or
foreign exchange with cross-border payments settled in local
currency. CSI is a certified Mastercard processor and has obtained
Visa Ready for Business Solutions approval.
▬▬
Edenred is a leading digital
platform for services and payments and the everyday companion for
people at work, connecting over 50 million users and
2 million partner merchants in 46 countries via more than
850,000 corporate clients.
Edenred offers specific-purpose payment
solutions for food (such as meal benefits), mobility (such as
multi-energy, maintenance, toll, parking and commuter solutions),
incentives (such as gift cards, employee engagement platforms) and
corporate payments (such as virtual cards). These solutions enhance
user’s well-being and purchasing power, improve companies’
attractiveness and efficiency, and vitalize the employment market
and the local economy. They also foster access to healthier food,
more environmentally friendly products and softer mobility.
Edenred’s 10,000 employees are committed to
making the world of work a connected ecosystem that is safer, more
efficient and more user-friendly every day.
In 2020, thanks to its global technology assets,
the Group managed close to €30 billion in business volume,
primarily carried out via mobile applications, online platforms and
cards.
Edenred is listed on the Euronext Paris stock
exchange and included in the following indices:
CAC Next 20, FTSE4Good and MSCI Europe.
The logos and other trademarks mentioned and
featured in this press release are registered trademarks of
Edenred S.A., its subsidiaries or third parties. They may not
be used for commercial purposes without prior written consent from
their owners.
▬▬
Sage is the global market
leader for technology that provides small and medium businesses
with the visibility, flexibility and efficiency to manage finances,
operations and people. With our partners, Sage is trusted by
millions of customers worldwide to deliver the best cloud
technology and support. Our years of experience mean that our
colleagues and partners understand how to serve our customers and
communities through the good, and more challenging times. We are
here to help, with practical advice, solutions, expertise and
insight. Learn more at www.sage.com/en-us/ or
www.sageintacct.com.
▬▬
CONTACTS
Edenred
Communications Department Emmanuelle
Châtelain +33 (0)1 86 67 24 36 emmanuelle.chatelain@edenred.com
Media Relations Matthieu
Santalucia+33 (0)1 86 67 22 63matthieu.santalucia@edenred.com |
Investor
Relations Cédric Appert+33 (0)1 86 67 24
99cedric.appert@edenred.com Loïc Da Silva+33 (0)1 86
67 20 67loic.dasilva@edenred.com |
Sage
Media
relations Peter
Olsonpeter.olson@sage.com408-878-0951 |
|
- Sage Intacct-CSI-Vendor Payments Partnership
Release_EN_2021-03-10
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