PAYROLL

World’s First Employee-Friendly Accounts Payable Solution Launched by Teampay

Teampay | December 29, 2021

accenture news
On December 16, Teampay launched the first-ever employee-friendly accounts payable solution. Founded in 2016, Teampay is a leading distributed spending platform that simplifies tracking of company spending by employees in real-time. With the announcement, Teampay has cemented its position as an innovator in the HR tech space.

The newest solution by Teampay redefines how employees and finance departments map expenses. It offers pre-approval workflows and gives finance departments spending visibility to avoid unforeseen invoices. Teampay also provides end-to-end capabilities with the power to record, match, process, and pay invoices. Teampay is designed with employees in mind and enables them to access updates, purchase orders, and invoices in real-time.

“Over the past two years, employee spending has grown at exponential rates, and our newly hybrid work environment requires finance departments to adjust quickly to meet evolving needs. Teampay’s user-friendly, intuitive interface is loved by employees. The addition of Accounts Payable automation to our patented workflow furthers our market leadership in spend management for mid-market and enterprise companies. As the working environment remains highly dynamic, company-wide visibility is imperative to make agile, informed decisions. Teampay is again leading the forefront of a human-centered finance organization with the most efficient, transparent, and holistic solution on the market.”

- Teampay Founder and CEO, Andrew Hoag

Teampay’s feature-rich solutions are delivered through a conversational interface. Employees can enter purchase requests regardless of the payment method. A trackable purchase order is then generated for the invoiced expenses as soon as they are approved. Once the invoice is received, Teampay’s matching technology links it to the purchase order, giving each stakeholder complete visibility into the payment lifecycle.

Spotlight

Today’s employers face a daunting array of historic challenges as they speed into a digital economy that’s already transforming businesses and the traditional human resources (HR) functions that serve them. Our latest survey of 1,200 global HR executives exposes a clear gulf between action and inertia. HR change is inevitable; KPMG International’s new Future of HR global study reveals that HR leaders have conflicting attitudes and approaches to this change. Forward-looking HR leaders are confidently harnessing the resources and insights that will redefine the traditional HR model and its contribution to the enterprise.


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