Today in B2B payments, Markaaz discusses small business verification and Tungsten enables multi-ERP management. Plus, FourQ explores the challenge of intercompany financial management, Sontiq links Zions SMB clients to identity protection, and Bora enables card payments in accounts payable for Western Alliance customers.
Despite innovations in cross-border B2B payments, less attention has been given to the need for large, multinational corporations (MNCs) to facilitate intercompany payments between business units. FourQ CEO and cofounder Varun Tejpal and Vice President of Transformation May Ma discuss the value of collaboration and technology integration to present a clear financial picture across global operations.
Sontiq, which works to make its clients less susceptible to the effects of identity theft and cybercrimes, has teamed with Zions Bancorporation for a referral collaboration, according to a Thursday (June 17) announcement. To that end, Zions’ Business Complete marketplace will include Sontiq’s Business Suite. The marketplace, for its part, is a digital platform showcasing offerings that are “designed to help improve the efficiency and financial wellness” of small companies.
Bora Payment Systems, which works in business-to-business (B2B) payments, is providing a new tool that will let Western Alliance Bank’s Visa Commercial Card clients make vendor payments in an effective manner, according to an announcement on Wednesday (June 16). Bora owns and runs the Payer Direct Hub (PDH), which harnesses established credit card networks to “push” payments to suppliers. The system can process single payments or take a batch file from accounts payable (AP) software, according to Bora’s site.