News | October 27, 2022

Airbase Becomes The First Modern Spend Management Platform To Address Complex Purchasing Processes Faced By Larger Companies

SAN FRANCISCO--(BUSINESS WIRE)--

Airbase, the fast-growing and top-ranked spend management solution, today announced that the company is rolling out a series of new product capabilities that expand its all-in-one spend management platform to support the sophisticated purchasing processes of today’s mid-market and larger companies.

These new capabilities help ensure compliance by providing additional visibility, control, and a robust audit trail of company spending:

  • Workflow Builder: Highly customizable depending on the type of spend, Workflow Builder captures specific content requirements and routes different spend request types to finance, IT, legal, or other business groups for review, approval, sign-off, or observation.
  • 3-Way Purchase Order Matching: Match POs, invoices, and item receipts to ensure compliance and create a complete audit trail in NetSuite.
  • In-product collaboration via @Mentions: Tag team members to quickly receive the clarifications, feedback, and answers required to keep spending safe and efficient.

“Airbase has always been built with larger organizations and finance teams in mind, and this release brings capabilities to support enterprise-level complexity. By deepening our workflows and extending the capabilities of our NetSuite integration, we are allowing modern finance teams to empower their businesses for success while maintaining company-wide compliance,” said Thejo Kote, Founder and CEO at Airbase.

“Eliminating wasted time and mistakes is at the core of all of our product updates, and that’s exactly what we’re bringing to our customers with this latest selection of features. Now more than ever, businesses are in need of collaborative solutions that are easy to use for all stakeholders. We’re excited that these product features will further support our mission to maintain our status as the #1 spend management platform on the market.”

The company has a reputation for rapid innovation. Earlier this month, Airbase was named as one of the 50 Companies to Watch by procurement analyst Spend Matters and is the only spend management company included on their most recent SolutionMap for procurement technology solutions.

In September, Airbase picked up the Finovate Award for Best Enterprise Payments Solution and announced the appointment of Philip Lacor as Chief Revenue Officer in August.

About Airbase:

Airbase is the #1 spend management platform. It combines all-inclusive accounts payable automation, software-enabled corporate cards, and simplified employee expense reimbursements. Airbase applies consistent approval workflows across all areas, automates accounting, and provides real-time reporting for all non-payroll spend. Innovative accounting automation results in a faster close, better visibility, and true control. Most companies rely on a combination of siloed software products, spreadsheets, and manual workarounds to pay vendors and reimburse employees. Airbase eliminates the resulting messy tech stack and inefficient processes by replacing products like Expensify and Bill.com. Airbase empowers employees with a uniform approach to spending money, whether that involves corporate card spend, raising a PO, or requesting reimbursement.

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