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The
pandemic accelerated the digitization of B2B payments. Companies are
seeing new cost and process efficiencies from their digitization
efforts, especially with T&E cards and vendor payments. But what’s
most exciting are the new possibilities for more efficient supply chains
that open up when you have digital, connected, intelligent B2B payment
ecosystems.
A lot of non-invoiced spending happens on T&E
cards, also known as multi-cards. Use of these cards plummeted as travel
bans kicked in. Multi-card spending is back now, but what’s changed for
good is that companies are looking for tighter controls.