Finance services

Business Spend Innovations Will Add Supply Chain Finance Services to Its Solutions

“Working capital efficiency remains a high priority as we see a continued trend of businesses struggling to meet their cash needs. Our goal is to significantly improve our ecosystem options and provide automation solutions Market-leading APs.”

Eric Riddle, Executive Vice President of Corporate Spending Innovations, an Edenred company, spoke at Nacha’s Smarter Faster Payments 2022 on May 4, where he presented the next version of a working capital solution available for CSI’s customers and their suppliers.

Corporate Spending Innovations develops its working capital solutions to increase value for its clients by improving the cash conversion cycle.

Riddle said, “CSI prides itself on being at the forefront of payment automation and understanding the market. Having spent over 15 years in the working capital solutions business, I am particularly excited about the impact our working capital solutions can have on the working capital efficiency of our customers and their suppliers. Working capital efficiency remains a high priority as we see a continued trend of companies struggling to meet their cash needs. Our goal is to dramatically enhance our ecosystem options and provide market-leading endpoint automation solutions. »

CSI is launching this working capital solution with a small group of beta customers. If you’d like to learn more about the beta program, a pilot profile includes moderate to strong buyer credit and direct vendor relationships in areas with high customer concentrations. A general release is planned for the fourth quarter of this year.

About Business Spend Innovations

Corporate Spending Innovations (CSI) provides cloud-based payment solutions to leading global brands through highly secure corporate payment solutions including CSI Paysystems, CSI Travel and global fleet fuel cards. Corporate Spending Innovations customers can automate 100% of B2B payments, including virtual card, proprietary B2B payment network, ACH, check or foreign exchange with cross-border payments settled in local currency. CSI is a Certified Mastercard Processor and has achieved Visa Ready for Business Solutions approval.

About Edenred

Edenred, the daily companion for people at work, is a leading digital services and payments platform that connects more than 50 million users and 2 million partner merchants in 45 countries via approximately 900,000 corporate customers.

Edenred offers specific payment solutions for food (like meal benefits), incentives (like gift cards, employee engagement platforms), mobility (like multi-energy solutions, maintenance, toll , parking and commuters) and corporate payments (such as in the form of virtual cards).

True to the Group’s raison d’être, “Enriching connections. For real. », these solutions improve the well-being and purchasing power of users. They improve the attractiveness and efficiency of businesses and boost the job market and the local economy. They also promote access to healthier food, more environmentally friendly products and smoother mobility.

Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.

In 2021, thanks to its global technology assets, the Group managed nearly €30 billion in business volume, mainly achieved through mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and is part of the following indices: CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

Media contact:

Lisa Gruner

[email protected]

978-314-0753

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