A New Way of Buying Requires a New Solution

With spend shifting from top-down to bottom-up, procurement and finance teams need a new set of capabilities to maintain visibility and control without creating friction for distributed teams.

Unfortunately, traditional Procure-to-Pay systems initiate, approve, and deliver payments in an outdated manner that doesn’t work with modern business models.

When spending power is in the hands of a few, the system will inevitably break. The reality is you cannot control spend by only focusing on the few people who have licenses.

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What’s needed now is a new solution

Teampay’s Distributed Spend Management Platform provides controlled access to company spend for anyone, anywhere, at any time. The system is lightweight, democratic, and extremely flexible, which lies in stark contrast to the big, bureaucratic, and inflexible Procure-to-Pay systems of old.

Here’s a look at the differences in a side-by-side comparison:

Capabilities

Procure-to-pay

Distributed Spend
Management

Accessibility

Few seats

Company-wide

Reconciliation

Manual

Automated

Spend under management

63%

100%

Implementation +
maintenance

IT-required

IT-free

Time-to-value

8-24 months

14 days

Visibility

Limited to a
select few

Democratized +
real-time

Usability

Training required

Conversational
interface

Time to approval

18-22 hours

Minutes
(68% under 1 hour)

A better way to manage spending

Set proactive spend controls

Teampay’s rules engine ensures your policies are enforced on all of your spend, not just the spend that goes through the procure-to-pay process.

Get real-time visibility

Allow anyone to know exactly how much they’ve spent at any given moment – no more waiting for the books to close to know what’s been spent.

Save time with automation

Teampay’s rules engine and reporting features help automate purchasing requests, approvals, reconciliation, and reporting, saving your finance team time and headaches.

Screenshot of the expense management solution

Rapid time-to-value

With Teampay, you can get up and running in days, not months or years.

Empower Employees

All employees need the ability to make purchases – not just the procurement department. Traditional Procure-to-Pay (P2P) systems charge by the seat, limiting access. Teampay provides access to company spend for all employees, without sacrificing visibility or control.

Screenshot of proactive control spending

Manage all types of expenses—made by anyone, from end-to-end

Transparent graphic of virtual teampay credit card

Virtual cards

Pre-approved cards for one-off or recurring purchases online.

Teampaygo

Physical cards with controls for offline transactions

Graphic featuring procurement workflow with letters "PO" centered

Purchase Orders

Procurement workflows to get pre-approvals on invoiced spend

"We are growing, and we don’t want it to take three weeks to buy a pen, but we can’t just let people buy whatever they want. Teampay is a great option to make purchases quickly with streamlined approval and accounting software integration."

Hilla Hoitash

Finance Operations at Formlabs

"The platform has proper controls and promotes efficiency, saving my team countless hours and increasing their productivity across the board. This is one of the best investments the company has purchased to date."

Linh Doan

Controller at Zumper

"It was like a lightswitch, I don’t even remember an implementation. We had a 20 minute call to talk through approval flows, then all of a sudden we had the app in our Slack."

Phill Hall

Head of Finance at Anduril

See Teampay in action

Book a custom demo to see how Teampay’s distributed spend management platform gives finance teams control and visibility over spend, while empowering employees.

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