Order.co, the world’s leading B2B Ecommerce Platform, announced its enhanced payment capabilities that improve visibility, efficiency, and security for procurement, finance, operations, and accounting teams. The update also allows for new features that simplify tax compliance while delivering unprecedented control over vendor payments and budget tracking.
“Recent enhancements ensure that every transaction is accounted for correctly and in real-time,” said Alec Stonitsch, VP of Product at Order.co. “With built-in features like live budget vs. actual tracking, centralized and automated management of tax exemptions, and vendor-specific virtual cards, businesses can experience more efficient, stress-free purchasing.”
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Key benefits and features that Order.co customers can expect include:
Real-time visibility and budget control: Track pacing in real time as transactions instantly reflect in the business budget, eliminating overspending and confusion across teams. Finance teams gain better insight into credit utilization and cash-back opportunities, making it easier to plan ahead.
Increased efficiency: Automate tax exemption calculations, removing the need to contact individual vendors manually. Rather than manually GL coding every line item for every purchase, Order.co automatically codes items in consolidated invoices across multiple vendor categories, including advertising and operational expenses. Granular, data-rich reporting through the Order.co platform helps businesses stay compliant with tax regulations and state tax audits.
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Stronger security: Ensure payments are only processed with approved vendors with Order.co’s vendor-locked cards. In the event of a vendor data breach, the virtual card only needs to be updated with that vendor without disrupting other transactions. As a result, finance and accounting teams can save time and minimize stress knowing that their financial data is secure.
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With these upgrades, professionals in back-office functions can maximize cash flow, reduce tax complexities, and keep their financial information safe from potential breaches. To learn more about Order.co or to request a product demo
Source – PR Newswire
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