Commercial cards with value-added ancillary services can be a valuable product for banks to offer, but community banks can struggle to retain control of their card programs. Brandon Lorey, president of Bank of Clarke County, spoke with PYMNTS about the opportunity for smaller institutions to keep their corporate card programs in-house and play a larger role in B2B payments modernization as a result.
Toast has purchased restaurant management software company xtraCHEF, which equips eateries with tools such as accounts payable (AP) automation in addition to inventory management, according to a Thursday (June 10) announcement. The acquisition comes on the heels of a successful partnership rolled out in June 2020. xtraCHEF, which was created for all different sized eateries, lets operators digitize accounts payable, manage increasing inventory spend and simplify back-office work to bolster total profitability.
Ivalua, which works in cloud spend management solutions, will give employees access to Amazon Business from Ivalua’s platform and help businesses find new supply sources, a press release said on Thursday (June 10). It will go beyond the traditional PunchOut and allow for an integrated search experience, letting employees search across various supplier catalogs internationally, Amazon Business and other places in order to compare results.