Order.co Introduces New Payment Features for Businesses
Order.co, recognized as a leader in the B2B Ecommerce Platform, has revealed significant upgrades to its payment system aimed at enhancing operational visibility and security. This update brings critical improvements for teams handling procurement and finance, allowing businesses to manage payments and budgets more effectively.
“These upgrades ensure accurate tracking of every transaction in real-time,” stated Alec Stonitsch, VP of Product at Order.co. “With features like instant budget tracking and automated tax exemptions, businesses can enjoy a smoother purchasing experience, freeing up more time for strategic work.”
Key Features and Benefits of the New Payment System
Real-time Budget Management: Businesses can now monitor their financial commitments closely, with every transaction logged in the business budget right away. This immediate insight helps prevent overspending and clarifies spending across teams, empowering finance departments to understand cash flow better and tap into savings opportunities.
Improved Efficiency: Order.co's automated system simplifies the calculation of tax exemptions, removing the tedious need for sellers to authenticate these manually. Instead of managing individual line items per purchase, the platform automatically processes and categorizes them for seamless invoicing, enhancing compliance and reporting capabilities.
Security Reinforced
Security features have also seen enhancements. Payments can only be processed to verified vendors using Order.co's vendor-locked cards. In case of a vendor-related data issue, only the affected virtual card needs updating, which minimizes the disruption to other ongoing transactions. This feature provides finance and accounting teams with peace of mind, knowing their payment processes are logically secured.
Streamlining Business Purchasing
The comprehensive payment enhancements mean professionals can maximize their cash flow while minimizing the complexities that usually accompany tax-related issues. With streamlined processes, businesses also bolster the integrity of their financial information against potential breaches.
To explore more about these new features or schedule a product demonstration, businesses are encouraged to visit Order.co.
About Order.co
Order.co simplifies the buying process for companies by merging the simplicity of online shopping with complex purchase order and accounts payable automation. This innovative approach helps businesses cut costs while enhancing management efficiency with each order.
Many leading organizations, including companies like WeWork and Hugo Boss, are already harnessing the power of Order.co to centralize their purchasing workflows. This centralization facilitates better spending control which can lead to substantial savings, averaging around 5% on purchases. Founded in 2016 in New York City, Order.co has successfully secured $50M in funding from a variety of high-profile investors.
Frequently Asked Questions
What are the new features introduced by Order.co?
Order.co has enhanced its payment capabilities focusing on real-time budget tracking, automated tax exemption management, and improved vendor payment security.
How does real-time visibility benefit a business?
Real-time visibility helps businesses stay on top of spending, preventing overspending by providing immediate insights into transactions as they occur.
What security features have been added?
Order.co now offers vendor-locked cards, allowing payments only to approved vendors, which enhances the security of financial transactions.
Who can benefit from Order.co's solutions?
Teams in procurement, finance, operations, and accounting can leverage Order.co's streamlined processes to enhance financial management and operational efficiency.
How does automation save time for teams?
By automating tax exemption calculations and invoice processing, Order.co reduces the need for manual entry and verification, allowing teams to focus on more strategic tasks.
