10 B2B Fintech Companies Reshaping Their Industry
Fintech industry growth is showing no signs of slowing thanks to innovation that continues to help companies increase efficiency while reducing costs. Artificial intelligence has further unleashed unprecedented advances for many of the companies in this space as they enable the adoption of AI within many functions of financial services.
Venture capital and private equity continue to pour into the fintech space as new frontiers for automation and innovation are disrupted by pioneers of the industry. Here are ten of the leading business-to-business (B2B) fintech companies reshaping their respective industries in 2024:
1. Stripe
Stripe has changed the way businesses process their online payments, allowing companies to enjoy fiscal efficiency gains and simplify their billing processes.
By providing a robust platform that handles billions of dollars in transactions every year, the company allows other brands to accept payments from nearly anywhere in the world. But that’s not all, as the platform also provides prevention tools and financial management features to help businesses of all sizes streamline payment processing.
2. Paymerang
Paymerang has become a dominant player in financial automation for companies. As a leading platform for accounts payable (AP) automation as well as invoice automation, Paymerang helps its clients increase productivity and cost-savings by eliminating tedious manual tasks that free up time for more impactful work. Paymerang’s platform also provides security benefits to clients to help mitigate risks of financial fraud and vendor impersonation.
3. Vitech
Vitech is the leading provider of pension and insurance benefits administration software. Its platform, V3locity, serves the world’s largest insurance and pension systems by offering comprehensive solutions to complex benefits administration processes.
By automating workflows and integrating various aspects of benefits admin into a unified interface, V3locity can help your organization improve its efficiency, reduce its costs, and ensure its compliance. The platform also boasts exceptional scalability and customizability, which means it can evolve alongside your business.
4. Coupa
Coupa provides business spend management capabilities to mid-sized companies and enterprise organizations. Its unified interface helps companies control procurement, expenses, and payments.
But what differentiates Coupa the most is its powerful data analytics functionality. It can deliver real-time insights into critical financial processes and reveal spending patterns that may negatively impact long-term profitability. More importantly, the software promotes informed decision-making by taking the guesswork out of cost optimization.
5. Bill.com
The cloud-based Bill.com platform automates payment workflows, invoicing, and international transactions. Like many cloud-based offerings, Bill.com prioritizes strategic automation to reduce the need for manual inputs and save users time.
While the solution is not a replacement for traditional accounting software, it does integrate with many popular platforms and helps businesses reduce the risk of fiscal errors. By combining Bill.com with a premium accounting tool, decision-makers can achieve a more holistic view of their cash flow and revenue streams.
6. Adyen
Adyen supports over 250 payment methods and multiple currencies, and it readily integrates with several popular accounting solutions. Altogether, it provides businesses with a means of accepting payments in-store, in-app, and online, as well as a seamless payment experience for customers around the world.
The company prioritizes fraud prevention, which represents an ever-present concern when doing business internationally. Additionally, it provides clients with data analytics features, which help identify payment processing bottlenecks and potential security vulnerabilities.
7. Plaid
Whereas solutions like Square and Stripe prioritize card payment processing, Plaid gives businesses the ability to securely connect with users’ bank accounts. In turn, it promotes automated ACH payments and gives businesses added confidence that users will make payments on time.
By facilitating secure and seamless data access, Plaid powers many of the most popular B2B finance apps and consumer-facing fiscal tools. Its connectivity gives businesses the freedom to offer innovative financial services and improve the user experience while simultaneously offering robust fraud protection.
8. Avalara
Managing sales tax, VAT, and other transaction taxes represents a recurring nightmare for many businesses. Avalara eases that pain point by automating tax compliance and streamlining filing processes.
By integrating Avalara into your application ecosystem, you can reduce the risk of late filings and mitigate errors. The solution readily integrates with numerous accounting and e-commerce platforms, which reduces the complexity of compliance and works to insulate your business from the many dangers associated with tax oversights.
9. Expensify
Designed for businesses of all sizes, Expensify simplifies expense management and tracking. Its user-friendly app automates expense reporting, includes receipt scanning capabilities, and expedites the reimbursement process.
By offering real-time expense tracking while also integrating with popular accounting solutions, Expensify helps your business keep costs in check and ensure compliance with company policies.
10. SAP Concur
Lastly, SAP Concur is a leading provider of integrated travel, expense, and invoice management solutions. Its platform helps your business automate and streamline critical fiscal processes, including travel booking and cost tracking. It is especially appealing to companies that are already using SAP’s enterprise resource planning technology and other tools.
Rethink Financial Management with These Great Solutions
Regardless of the industry you operate within, there’s an app out there to make your life easier. Give each of these dynamic fintech companies a look and start simplifying your operations today.
