B2B Payments Today: AI-Powered Accounting

Cecilia Nysing

Today in B2B payments, why accounting needs a boost from AI and Hello Raye launches Snapshots 3D furniture portal. Plus, Novi raises $10.3 million to help sustainable supply chain, Digital River and Chargify get together to boost B2B Software-as-a-Service management and Clicklease raises $63 million in Series A funding.

Digital River, Chargify Team on B2B SaaS Management

Global commerce firm Digital River has formed a partnership with B2B Software-as-a-Service billing and subscription management platform Chargify, according to a joint announcement Wednesday (Sept. 8).

Digital River’s technology will be integrated into the Chargify platform, meaning Chargify customers can manage payments, taxes and compliance requests from the portal. It also means Chargify customers will have access to specialized B2B billing and data management tools.

Vic.ai CEO: Accounting Needs AI-Driven Overhaul to Streamline Invoice Processing 

Alexander Hagerup, co-founder and CEO of Vic.ai, said autonomous accounting can help firms save time and money in their company operations.

Vic.ai recently announced $50 million in Series B funding, which the company will use jolt the adoption of its artificial intelligence (AI) platform for streamlined invoice processing and other financial activities.

Autonomous accounting, said Hagerup, should not be confused with the automation of accounting functions, which are template-based, pre-programmed and do not adapt to changes in conditions.

Clicklease Seeks Light Touch for Heavy Equipment Rentals and Payments

Commercial equipment payment solutions firm Clicklease closed a $63 million Series A funding round Aug. 31 that was led by Sandlot Partners. Founder and CEO Bart Longson said the funding influx means Clicklease can continue to improve its technology and expand its team.

Clicklease has developed proprietary algorithms that allow it to give instantaneous decisions in the still-stagnant equipment leasing space and given relief to some companies that have struggled during the COVID-19 pandemic with not having enough products to sell.

B2B Furniture Marketplace Hello Raye Goes 3D

B2B furniture marketplace Hello Raye now lets its clients see customized 3D design assets and 4K high-definition renderings in real time through a web portal it calls Snapshots.

Snapshots will let furniture and decor brands customize 3D files on the web without adding new software or plug-ins, according to the announcement by Hello Raye, which connects architects to furniture brands and their dealers.

Sustainable Supplier Marketplace Novi Raises $10.3M

B2B marketplace Novi recently closed a $10.3 million Series A funding round, Forbes reported.

Launched in 2019 by Founder Kimberly Shenk, Novi gives brands data to source cleaner ingredients in their products and informs buyers of the sustainability in their offerings, including recommendations on how to improve. The platform can also assess whether a product is vegan or if it’s compliant with sustainable programs including Clean at Sephora or Target Clean.

Novi’s new capital will be used to help Novi expand into verticals for home goods and food.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE SHOPPING JOURNEY – SEPTEMBER 2021

About: Eighty percent of consumers are interested in using nontraditional checkout options like self-service, yet only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba collaboration, analyzes over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.

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on September 8, 2021 at 1:00 pm British peanut butter company ManiLife has begun a contest for a year’s supply of its product using Amazon Alexa’s sales conversion program. Those who buy peanut butter using the voice assistant will be entered to win the prize while expanding the brand’s voice […]
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