Today in B2B payments, PAAS takes expense management lessons to accounts payable, and food retailers reinstate supplier fee policies. Plus, Ancora Software discusses source-to-pay data flows, Aareal Bank introduces a PayPal B2B payment tool, and Railz raises funding to unlock accounting data.
Outsourcing data entry may no longer be the most viable option for source-to-pay, leaving many accounts payable teams backlogged. Noel Flynn, CEO and co-founder of Ancora Software, explains how AP departments can regain control of their data flows to keep B2B payments moving.
Aareal Bank Group will now offer the option to pay via PayPal in the Aareal Exchange & Payment Platform (AEPP) solution, which was rolled out last year, according to a press release. That comes in addition to the services that are already integrated by the provider. AEPP, as a B2B platform solution, can serve as a link between ERP systems and numerous payment providers, and can prove to be a key component for managing payment transactions and other such services.
Railz, which develops an API letting financial institutions (FIs) and FinTechs access real-time data of their customers’ accounting data, has raised $12 million in Series A funding, according to a press release. The investment will let Railz expand its efforts by continuing to build out its sales and engineering team. Nyca Partners led the recent round, with participation from Susa Ventures, Vestigo Ventures, Entrée Capital Global Founders Capital, Plug and Play Ventures, N49P and Hack VC.
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