Corporate Spending Innovations Will Be Adding Supply Chain Finance Services to Its Solutions
CSI will initiate supply chain finance services in Q4 of 2022.
Bonita Springs, FL. June 6, 2022: Eric Riddle, Executive Vice President of Corporate Spending Innovations, an Edenred company, spoke at Nacha’s Smarter Faster Payments 2022 on May 4th, where he introduced the upcoming release of a Working Capital Solution available for CSI customers and their suppliers.
Corporate Spending Innovations is developing its working capital solutions to enhance value for its customers 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 more than 15 years in the working capital solutions space, I’m particularly excited about the impact our working capital solutions can have on our customers and their suppliers’ working capital efficiency. Working Capital efficiency remains a high priority as we see a continuing trend of businesses struggling to meet their liquidity needs. Our goal is to dramatically improve options for our ecosystem and provide market-leading AP Automation solutions.”
CSI is launching this working capital solution with a small group of beta customers. If you are interested in learning more about the beta program, a pilot profile includes moderate to strong buyer credit and direct supplier relationships in high customer concentration industries. A general release is planned for the fourth quarter of this year.
About Corporate Spending Innovations
Corporate Spending Innovations (CSI) provides cloud-based payment solutions to world-leading 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 payables, including virtual card, proprietary B2B Payments Network, ACH, check, or foreign exchange with cross-border payments settled in local currency. CSI is a certified Mastercard processor and has obtained Visa Ready for Business Solutions approval.
Edenred, the everyday companion for people at work, is a leading digital platform for services and payments which connects over 50 million users and 2 million partner merchants in 45 countries via approximately 900,000 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 2021, thanks to its global technology assets, the Group managed close to €30 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 Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.