Today in B2B payments, HSBC announces a new platform for trade finance, while Paystand upgrades its Sage Intacct integration to increase payment speed. Additionally, ECI Software Solutions is finalizing its acquisition of ES Tech Group, and Tiger Global is seeking to raise $6 billion to invest in internet-enabled enterprise software, FinTech and consumer enterprises.
HSBC launches digital platform for trade finance
HSBC has announced HSBC Trade Solutions (HTS), a new platform that allows customers to manage all of their trade finance products online. The bank has launched HTS in its two largest markets – the UK and Hong Kong – and intends to roll it out to other markets in which it operates. HSBC said in a press release that “HTS will form the backbone of HSBC’s market-leading commercial offering – supporting [$800 billion] of world trade per year.
Paystand Upgrades Sage Intacct Integration for B2B Collections
Blockchain-enabled B2B payments company Paystand has announced numerous upgrades to its Sage Intacct integration to increase payment speed and add more automation. Paystand CEO Jeremy Almond said in a press release: “The upgrades to our Sage Intacct integration allow us to enable finance teams to enter the future of B2B payments – cashless payment, without feel and frictionless.”
ECI Software Solutions acquires the ES Tech group
Cloud enterprise technology company ECI Software Solutions has completed the acquisition of ES Tech Group, a UK-based B2B e-commerce software and services company. ECI CEO Trevor Gruenewald said in a press release, “To provide our collective customers with the ability to execute a superior online presence while making data-driven decisions through their back-end ERP solution. reinforces ECI’s position as a one-stop-shop for all business management needs.”
Tiger Global seeks to raise $6 billion for new fund to invest in startups
Hedge fund Tiger Global is seeking to raise $6 billion in a new fund that will focus on Internet-enabled enterprise software, FinTech and consumer businesses, according to published reports. The fund will invest in startups, “largely in enterprise themes and in India,” the New York-based company reportedly said in a letter to investors.
Time-saving technology and tools for CFOs to offset macro challenges
As most companies have learned, training, leading and managing people working remotely is a challenge. But there is technology that can help. Kapitus CFO Anthony Rose told PYMNTS in a recent interview, “You kind of find out that you don’t need everyone in a room to close the books. You also have some tools that help in a close management process. »
Companies get creative to offer cash shortage solutions
Today’s macroeconomic challenges are forcing financial leaders 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 discovered ways to use new digital options to help their clients weather the cash crunch – and increase top-tier results in the process.
Walmart to acquire robotic automation company Alert Innovation
Walmart has agreed to acquire Alert Innovation, a company it has worked with for five years to customize Alert’s materials handling technology for use in Walmart’s Marketplace fulfillment centers. David Guggina, senior vice president of innovation and automation at Walmart US, said in a blog post, “Investing more in this technology will allow us to leverage our store footprint – 4,700 stores located within 10 miles of 90% of the US population – for storage and fulfillment.
For all of PYMNTS’ B2B coverage, subscribe to the daily B2B newsletter.
We are always looking for partnership opportunities with innovators and disruptors.