Despite increased complexity for larger business clients, he told FinLedger the simple, straightforward framework that Teampay built for smaller businesses still works at a larger scale. The company has grown over the past year to include enterprises reaching to hundred of employees, like Chime, Foursquare, Grammarly and Zumper, with Hoag sharing that the pandemic has been an accelerant for the platform. “They don’t want to have to go chase down every employee, every receipt, tell them what they did wrong, tell them what they didn’t code.” Maybe they have an outsourced bookkeeping team, but not a lot of support, and they just want leverage,” Hoag said. It’s usually a single finance person, and he or she is trying to get everything under control. “For those smaller companies we really just give them leverage. The goal: helping financial authorities to simplify their jobs so they don’t need to run around tracking down employees or giving access for individual purchases. The platform was originally built with small and medium-sized companies in mind. It then followed that offering by releasing its digital corporate card, Catalyst, alongside a new iOS app in partnership with Mastercard in June. The company teamed up with Silicon Valley Bank to offer seamless spending management controls to business card holders in April.
This announcement is the latest in a series of partnerships, products and integrations released by Teampay this year. This groundbreaking solution delivers a seamless experience for employees, reducing friction and increasing satisfaction.” “Our new Teams offering provides a unique solution for the many companies who depend on Microsoft’s ecosystem and further expands our global enterprise reach,” Hoag said. “There’s a large value chain of partners, resellers and other products that we’ll be able to dip into with Microsoft, so the thought process was around just gaining that access to more of the market,” Teampay CEO and co-founder Andrew Hoag said in an interview with FinLedger. Now, Teampay is upping its reach with a full integration in to the Microsoft Teams interface and mark the first spend management platform to be synced within Microsoft’s Dynamics 365 Business Central and Finance & Operations system. The platform also offers pre-coded transaction data syncs to company ERP, automatically reconciling purchases and procurements, and delivering up-to-date actuals and reports for finance teams. The company’s expense technology allows businesses to create organizational flows for cash spend, direct funding approvals and automate manual tasks in order to simplify spending experiences. Teampay, a spend management platform for business enterprises, became the first spend management solution within the Microsoft ecosystem for the new Microsoft Teams integrations.
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