Commercial Payments International

San Jose-based Cloud business management solutions company Sage has expanded its partnership with Corporate Spending Innovations (CSI) which is a B2B payments company owned by France-based Edenred. The two will work together for new vendor payments capabilities natively within the Sage Intacct cloud financial management system providing a seamless experience from bill to reconciliation for joint customers, the press note stated.

Last year, Billtrust , Bank of West separately collaborated with CSI to launch B2B payments platform.

The press note points out that processing ACH batches, the accounts payable (AP) process is time-consuming and costly and this affects the finance teams in manual payments and reconciling vendor payments. With the launch of the new solution Sage Intacct Vendor Payments powered by CSI, businesses can streamline and automate their payments process.

The solution aims to provide streamlining and automation of business processes enabling clients ‘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 AP, especially payments, was an initiative that should have been implemented years ago,” said David Disque, President from Corporate Spending Innovations.

Vendor Payments by CSI would provide ACH, printed checks, and one-time-use virtual cards.