Fintech
10 B2B fintech companies reshaping their industry
Fintech growth shows no signs of slowing as innovation continues to help businesses increase efficiency while reducing costs. Artificial intelligence has further enabled unprecedented progress for many companies in this space as they enable the adoption of AI across many financial services functions.
Venture capital and private equity continue to pour into the fintech space as new frontiers of automation and innovation are disrupted by industry pioneers. Here are ten of the top business-to-business (B2B) fintech companies that will reshape their respective industries in 2024:
1. Strip
Band has changed the way businesses process online payments, allowing them to benefit from tax efficiency improvements and streamline invoicing processes.
By providing a robust platform that handles billions of dollars in transactions every year, the company enables other brands to accept payments from almost anywhere in the world. But that’s not all, as the platform also provides prevention tools and financial management features to help businesses of all sizes streamline payment processing.
2. Payment
Paymerang has become a dominant player in financial automation for businesses. As the leading accounts payable (AP) and invoice automation platform, Paymerang helps its customers increase productivity and cost savings by eliminating tedious manual tasks that free up time for more impactful work. Paymerang’s platform also offers security benefits to customers to help mitigate the risks of financial fraud and vendor identity theft.
3.Vitech
Vitech is the leading provider of pension and insurance benefits administration software. Its platform, V3locity, serves the world’s largest insurance and pension systems by offering comprehensive solutions for complex benefits administration processes.
By automating workflows and integrating various aspects of benefits administration into a unified interface, V3locity can help your organization improve its efficiency, reduce costs and ensure compliance. The platform also boasts exceptional scalability and customizability, meaning it can evolve with your business.
4. Cup
Cup provides enterprise spend management capabilities to mid-sized businesses and enterprise organizations. Its unified interface helps companies control procurement, spending and payments.
But what differentiates Coupa the most is its powerful data analytics functionality. It can provide real-time information on critical financial processes and reveal spending patterns that could negatively impact long-term profitability. More importantly, the software promotes informed decision making by taking the guesswork out of cost optimization.
5. Bill.com
The cloud-based one Bill.com the platform automates payment workflows, invoicing and international transactions. Like many cloud-based offerings, Bill.com prioritizes strategic automation to reduce the need for manual input and save users time.
While the solution doesn’t replace traditional accounting software, it integrates with many popular platforms and helps businesses reduce the risk of tax errors. By combining Bill.com with a premium accounting tool, decision makers can gain a more holistic view of cash flow and revenue streams.
6. Adyen
Adyen It supports over 250 payment methods and multiple currencies and easily integrates with several popular accounting solutions. Overall, it provides businesses with a means to accept in-store, in-app and online payments, as well as a seamless payment experience for customers around the world.
The company prioritizes fraud prevention, which is an ever-present concern when operating internationally. Additionally, it provides customers with data analytics capabilities, which help identify payment processing bottlenecks and potential security vulnerabilities.
7. Plaid
While solutions like Square and Stripe prioritize card payment processing, Plaid offers businesses the ability to securely connect to users’ bank accounts. In turn, it promotes automated ACH payments and gives businesses more confidence that users will make payments on time.
By facilitating secure, seamless access to data, Plaid powers many of the most popular B2B financial apps and consumer-facing tax tools. Its connectivity gives businesses the freedom to offer innovative financial services and improve user experience while offering robust fraud protection.
8. Avalara
Managing sales tax, VAT and other transaction taxes is a recurring nightmare for many businesses. Avalara alleviates this pain point by automating tax compliance and streamlining filing processes.
By integrating Avalara into your application ecosystem, you can reduce the risk of late submissions and mitigate errors. The solution easily integrates with numerous accounting and e-commerce platforms, reducing compliance complexity and insulating your business from the many dangers associated with tax oversights.
9. Spend
Designed for businesses of all sizes, Spend simplifies expense management and tracking. Its intuitive app automates expense reporting, includes receipt scanning capabilities, and speeds up the reimbursement process.
By offering real-time expense tracking and also integrating with popular accounting solutions, Expensify helps your business control costs and ensure compliance with company policies.
10. SAP Compliant
Lastly, SAP agrees is a leading provider of integrated travel, expense and invoice management solutions. Its platform helps your business automate and streamline critical tax processes, including travel booking and cost tracking. It is particularly interesting for companies that already use SAP’s enterprise resource planning technology and other tools.
Rethink financial management with these amazing solutions
No matter what industry you’re in, there’s an app available to make your life easier. Take a look at each of these dynamic fintech companies and start streamlining your operations today.