We just wrapped up our annual event, INNOVATE: The Purchase-to-Pay Summit in New Orleans and this week and as usual we were humbled and inspired by what some of the foremost leading experts had to say about creating change. As usual, there was much to be learned about streamlining processes and boosting efficiency. At every Summit, PayStream has the pleasure of giving out Innovate Awards to highlight the year’s stand-out innovators in the field of AP and P2P automation. We determine the winners by taking a close look at both dynamic P2P solution providers and at organizations that have used P2P solutions dynamically. Each year, we are amazed at the improvement in financial automation and at the success stories we witness throughout the financial automation market—this year is no exception.

Our first technology award was granted to Nvoicepay, a provider of an exceptional ePayments solution. This product is remarkable for its flexible and simple design, which includes mobile approval and robust, dynamic vendor management capability. Overall, it enables organizations to truly optimize each payment, eliminate paper and create bottom line savings. Congratulations to Nvoicepay, the winner of the PayStream Summit Excellence Award for Innovation in Electronic Payments!

Our second technology award, the PayStream Summit Excellence Award for Innovation in Travel & Expense Management, went to Coupa. The remarkable Coupa Expenses solution features mobile notifications, rules-based workflows, configurable expense policies, and predictive technology that proactively prompts the user to take action when traveling. Congratulations Coupa!

Our final technology award went to a company who has impressed us with their progressive approach to supplier data management and recovery audit. The PayStream Summit Excellence Award for Innovation in Supplier Information Management went to Lavante and their Connect platform, which integrates several standalone offerings into one diverse solution. Their recent partnerships have strengthened the product and ensured continued excellence and customer savings.

We also recognized a handful of organizations that have utilized a financial solution in such a dynamic and collaborative way, they earned an Innovator of the Year Award for Excellence in Purchase-to-Pay.

First up was Director of Global Business Solutions, Kim Rankel, for her expertise in developing such a robust, efficient foreign supplier payment process at Eli Lilly. She developed a clear roadmap for staff to ensure compliance and a smooth auditing process.

 

PayStream also recognized the team at Nike as a pioneer in the P2P space. They’ve developed new and innovative ways to manage a complex global supply base, particularly through their stellar onboarding and supplier management practices. Even though they were not on hand to accept the award, we’d like to extend our sincere congratulations for a job well done!

Finally, we granted an individual innovator of the year award to Ben Shaffer, Director of Payment Services for his achievement in optimizing working capital at PG&E by maximizing discount capture. Under his leadership, his team is on track to on track to save PG&E over 42 million.

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