“Our goal is to make it easy for agencies to focus on helping their clients grow and strengthen those relationships while we focus on the complicated media back-office functions." Greg Bartels, President of IPS
SECAUCUS, N.J. (PRWEB) March 09, 2023
Edenred announced its acquisition of IPS through its corporate payment subsidiary Corporate Spending Innovations (CSI), last October. Since then, CSI’s end-to-end automated payment solution has significantly impacted payments in the media industry. CSI and IPS, pioneers in cloud-based accounts payable automation, have extensive experience handling the complexities of media B2B payments.
The fully automated invoice-to-pay solution brings exceptional value to media agencies by removing manual touchpoints, reducing errors, the potential for fraud, and speeding up the entire payment process. The combined customer service of both companies creates an improved customer experience and an optimized vendor enrollment process that makes it easier for suppliers to work with media agencies. The automated invoice processing and payment solution serves scaling media agencies of all sizes and provides media, in-house, and production invoicing and payments for all media-specific ecosystems.
“Combining invoice capture with automated payments significantly increases straight-through payment processing, further improving the service value for our customers. Our media agency clients now have a comprehensive and integrated invoice-to-pay solution with enhanced customer experience, optimized vendor enrollment, and better exceptions handling. We have expanded our service portfolio and passed that added value on to our clients.” David Disque, President of Corporate Spending Innovations
Media agencies benefit from CSI’s digitized and simplified media invoice processing and payment ability, as well as the seamless integrations with all leading industry ERPs and media buying systems. In addition, the flexible user interface includes custom payment approval workflows that connect media buyers, suppliers, planners, and finance departments.
According to research by Ardent Partners, invoice exceptions are a common challenge that takes up 24% of AP staff’s time. Our solution creates greater transparency and reduces exceptions saving agencies time and money in invoice processing. The cloud-based AP solution offers centralized receipt of all invoices, intelligent data capture with 99.95% guaranteed accuracy, and the ability to facilitate all payment methods – virtual card, ghost card, B2B Network Payments (ACH+), ACH, check, and FX.
“Our goal is to make it easy for agencies to focus on helping their clients grow and strengthen those relationships while we focus on the complicated media back-office functions. The real-time data exchange between CSI, IPS, and customer platforms provides better transparency between buyers and suppliers and more robust optimization. It reduces the number of exceptions that inundate media buyers, planners, finance and treasury, on a daily basis.” Greg Bartels, President of IPS
With decades of combined experience in the media payments space, CSI and IPS have the largest network of nearly one million vendors and work with over 500 agencies, including 8 of the top 10 advertising agency holding companies. As a result, media agencies are taking advantage of the complete invoice-to-pay solution, optimized vendor enrollment, improved customer service, and the added value of fewer exceptions with the strength in media reconciliation that CSI and IPS offer.
Learn more about the CSI and IPS invoice-to-pay solution and how together they can help simplify your media agency B2B payments.
Corporate Spending Innovations is part of Edenred, a leading digital platform for services and payments and the everyday companion for people at work, connecting 52 million users and 2 million partner merchants in 45 countries via 950,000 corporate clients.
Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards).
True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer 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 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.
About Corporate Spending Innovations
Corporate Spending Innovations (CSI) is a global FinTech leader providing innovative payment solutions to world-leading brands across all industries. CSI automates and digitizes B2B payments with a safe and highly secure cloud-based payments platform. For a more efficient way to manage payables, including virtual credit card, B2B Payments Network, ACH, and check, book a demo here.
CSI is an Edenred Company, the global leader in payment solutions for the working world.
IPS is a leading provider of cloud-based solutions that transform accounts payable and invoice processing end-to-end. The IPS platform combines intelligent data capture, robotic process automation, digital workflows, mobile, invoice analytics, supplier management, and integration with any ERP application or downstream system. These are some of the reasons that IPS processes more than $100 billion in accounts payable spend each year, has created over 1 billion digital records over the past decade, and is the market leader in media payables, book a demo here.
IPS is an Edenred Company, the global leader in payment solutions for the working world.