New Tools Deliver Trade Finance, Cash Velocity
Summary
Today in B2B payments, HSBC announces a new platform for trade finance, while Paystand upgrades its Sage Intacct integration to boost cash velocity. Paystand CEO Jeremy Almond said in a press release: “The upgrades to our Sage Intacct integration allows us to enable finance teams to step into the future of B2B payments — one that is cashless, feeless and frictionless.” Cloud business technology company ECI Software Solutions has completed its takeover of ES Tech Group, a U.K.-based B2B eCommerce software and services business. ECI CEO Trevor Gruenewald said in a press release: “Offering our collective customers the ability to run a superior online presence while driving data-driven decisions through their back-end ERP solution strengthens ECI’s position as a one-stop-shop for all business management needs.” Tiger Global looks to raise $6B for New Fund to Invest in Startups Hedge fund Tiger Global is looking to raise $6 billion in a new fund that will focus on internet-enabled enterprise software, FinTech and consumer companies, according to published reports. Kapitus Chief Financial Officer Anthony Rose told PYMNTS in a recent interview: “You kind of discover that you don’t need everybody in a room to close the books. There are some tools that you have there as well that help a close management process.” Today’s macroeconomic challenges are forcing financial executives to think hard about the “new normal.” In a recent conversation with PYMNTS, DigniFi CFO Mariana Coontz, Joor CEO Kristin Savilia and CarParts CFO Ryan Lockwood said they’ve discovered ways to use new digital options to help their customers contend with the cash crunch — and boost incremental top-line results in the process.