Sage expands partnership with Corporate Spending Innovations, an Edenred company, to deliver new Vendor Payments offering

Press release

March 10, 2021

Sage expands partnership with Corporate Spending Innovations, an Edenred company, to deliver new Vendor Payments offering

Embedded solution enables customers to pay vendors quickly, save hours on reconciliations, and reduce payment transaction costs

Sage (FTSE: SGE), the market leader in cloud business management solutions, and Edenred’s subsidiary Corporate Spending Innovations (CSI), a leader in electronic B2B payment solutions, today announced an expanded relationship. The companies are working together to deliver new vendor payments capabilities natively within the Sage Intacct cloud financial management system – providing a seamless experience from bill to reconciliation for joint customers.

From processing automated clearing house (ACH) batches to printing and mailing checks, the accounts payable (AP) process is often time-consuming and costly. Finance teams end up jumping between multiple systems or getting bogged down in manual processes to deliver and reconcile vendor payments. With the new Sage Intacct Vendor Payments powered by CSI, businesses can streamline and automate their payments process. This solution brings together Sage Intacct’s best-in-class cloud financials and CSI’s trusted payments platform to deliver a seamless payments experience. The new offering enables customers to pay vendors quickly, speed up reconciliations, and offer more ways to pay – all while reducing payment transaction costs.

“With the sudden move to fully remote workforces for many businesses in 2020, CFOs became painfully aware that digitizing Accounts Payable, especially payments, was an initiative that should have been implemented years ago,” said David Disque, President from CSI.

“We believe that more and more businesses will discover that payments automation is no longer a nice-to-have, but a must-have. The integration of our B2B payments platform now fully embedded into Sage Intacct enables companies to embrace technology and innovation through a single user experience as the payments ecosystem evolves to meet the changing landscape of digital business,” according to Jason Kolbenheyer, Chief Product Officer from CSI.

“Most companies don’t realize just how much time and money gets wasted in their traditional AP workflows,” said Dan Miller, Sage’s SVP of Product for Sage Intacct. “Studies have shown it can cost companies $20 or more per check to pay vendors and more than 80% of an AP team’s time is spent on manual transactions and payment processing. Sage Intacct customers can now leverage CSI’s trusted payments platform as a seamless extension to their company’s AP team to streamline the AP process and save money on each vendor payment.”