New integration leverages automation to ensure policy compliance across departments and streamline the business process for spend
New York, NY (October 28, 2020) — Teampay, the leading distributed spend management platform, today announced a new integration with digital contracting platform Ironclad. The integration will seamlessly connect financial and legal workflows, significantly improving employee compliance with company purchasing policies and further simplifying business processes surrounding spend management.
Many companies require a contract to be signed when employees make purchase requests for certain transaction types or dollar amounts. With this new integration, employees continue to make purchase requests in Teampay, without having to know the company policy on contracts. If the request requires a contract, a legal workflow will automatically be triggered within Ironclad. Once the contract workflow is completed in Ironclad, the requestor will be notified in Teampay to complete the purchase.
By streamlining and uniting these financial and legal processes, Teampay and Ironclad ensure policy compliance and remove the onus from individual employees, who previously were expected to remember a complex patchwork of policies, systems and procedures as they worked to execute their jobs. Lifting the burden from employees’ shoulders eliminates out-of-policy spending, in turn providing finance teams with better visibility and control over cash flow, and fostering efficiency across the organization.
“As a forward-thinking digital platform that fosters transparency and collaboration between departments, we’re excited Teampay is now so tightly integrated with Ironclad,” said Wyeth Goodenough, Ironclad’s Chief Customer Officer. “The integrated solution will power faster, more integrated business systems.”
Business purchasing decisions today are made from the bottom up, meaning every employee across an organization has the power to buy the software and tools they need to succeed — whether they’re working in an office or remotely. As such, having a single, straightforward solution to manage that spend is more necessary and important than ever.
Ironclad joins Teampay’s robust integration portfolio, which also includes QuickBooks, Xero, NetSuite, Intacct, Workday, Slack, and Zapier to connect disparate workflows and the distributed nature of spend in today’s decentralized, remote-first business world. Teampay is the only spend management solution on the market that unifies the purchasing workflow from end-to-end, executing and automating business processes across multiple systems.
“We are proud to join forces with Ironclad, an innovator that shares Teampay’s vision for automating and simplifying complex business processes while delivering a world-class end-user experience,” said Andrew Hoag, Founder and CEO of Teampay. “This integration marks a strong step forward for Teampay in connecting the many systems that support the purchasing process, and enabling them to work together to power more agile operations.”
Teampay’s distributed spend management platform gives high-growth companies total control and real-time visibility over purchasing, while empowering employees with smart, policy-driven access to company spend. Teampay’s patented technology (U.S. Pat. No. 10,755,339, and other patents pending) delivers a user-friendly workflow that aligns spenders and finance, collects critical data, integrates it into legacy systems, and provides safe, intelligent payments. As such, the platform solves the common problems of policy misalignment, lack of transparency, and unpredictable spending. Teampay was founded in 2016 and is headquartered in New York City.