Breaking Stories

Airbase, Silicon Valley Bank Partner on Spend Management

Airbase, the spend management platform for smaller businesses, is partnering with Silicon Valley Bank to allow for business cards to be used in API integration.

That, according to a Wednesday (Oct. 6) press release, will automate account and spend approval workflows.

SVB business cards have been designed to let companies handle their financial needs, and Airbase will add the ability to offer accounts payable and employee expense reimbursement options.

Airbase’s software gives companies card spending control as well as the ability to send transaction details for booking automatically to general ledgers.

Now, users not currently using Airbase will be able to sign up and get access to the company’s spend management solution.

“We are focused on providing our clients with the best tools and processes to help them run their businesses,” said Jon Oakes, managing director of card products for SVB. “Through Airbase’s robust spend management platform and SVB’s business credit cards designed for innovators, we will enable our clients to increase control and visibility while simplifying and automating workflows.”

“All businesses deserve best-in-class financial products that seamlessly combine their spend management workflows and payments,” Airbase Founder and CEO Thejo Kote said in the release.

“Thousands of businesses already use SVB for their business cards, and with this partnership — our first of this kind — we’re opening up the power of the Airbase platform to them,” he said. “The power of the combination of Airbase and SVB is that our joint customers can now manage all their non-payroll spending in one place — SVB cards, bills, reimbursements — with robust approvals, AP automation, and real-time reporting on the state of spend in their businesses.”

Also read: Airbase Debuts Real-Time Visibility on Global Spend for US Businesses

In other Airbase news, the company in September rolled out a plan to support domestic and international subsidiaries and currencies for spend management for U.S. businesses.

Companies with entities around the world will now be able to utilize spend management tools from Airbase.

Spend management has seen various changes, but has not tended to the needs of companies with international subsidiaries, which have been exacerbated by recent work-from-home trends.

What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *