Byon 12 November 2020
The explosion of B2B ecommerce is empowering employees across organizations to purchase more than ever before. To harness this transformation, businesses are encouraging SaaS subscriptions and online purchasing, both of which have led to increased distribution of spend throughout organizations. But if you’re a leader in this new, distributed purchasing environment, how can you control spend when so many more employees are purchasing supplies independently? Teampay, a distributed spend management tool, is designed to do just that.
Understanding the purchasing landscape
Buyers’ purchases sometimes fall outside of preferred procurement processes, creating challenges for procurement. Organizations trying to control spend may implement procure-to-pay suites to corral spending or may adopt traditional expense management tools to manage reimbursements. These tools, however, can be cumbersome and slow your employees down with bureaucracy. This reactive approach means you or your teams may not even know who’s buying what until weeks after the actual purchases.
How Teampay streamlines purchasing and procurement
If you’re looking for solutions to these problems, Amazon Business now integrates with Teampay, for an intuitive buying experience across Amazon’s offerings. Distributed spend management gives you proactive controls over purchases and real-time visibility into transactions and committed spend, without slowing down your employees.
Teampay’s distributed spend management software provides a conversational interface that guides employees through purchases, automatically enforcing company buying policies. By unifying the entire process from request to reconciliation, the automated workflows reduce manual work, ensure accurate data, and help to eliminate frustration at month-end close. This streamlining allows finance leaders to have confidence in their numbers and enables employees to make faster, better decisions.
Purchase requests are entered through the conversational interface, giving employees one place to go to access company funds, regardless of payment type or vendor. Customers have an option to use the web application, or the Slack integration.
See Teampay in action
Via Slack, employees chat with a Slackbot to request a purchase from Amazon. This triggers Teampay to automatically send the employee to Amazon Business to select their items. If your organization has previously designated preferred items via Guided Buying, a benefit of Business Prime, those items are surfaced as usual.
Once the employee has selected their items and shipping address, they will be guided back to Teampay to complete the request, which is then routed to the right approver based on your organization’s policy. Once approved, the order is automatically placed with Amazon Business and your card on file will be charged. The transaction data is immediately sent to your accounting system and automatically reconciled using the data collected up front – saving you valuable time.
This chat-based procurement gives your employees a next-generation buying experience. For purchases such as SaaS subscriptions or offline purchases, employees go through the same process and are issued payment through the platform in order to complete the purchase, whether virtual card, physical card, or purchase order. This gives employees one place to go whenever they need to buy something for your business.
How to get started
Teampay’s implementation process is IT-free and can be completed within days, including the integration to Amazon Business. The admin interface makes it easy for finance and procurement users to create and update purchasing policies and workflows, which are automatically enforced by Teampay.
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