Stampli is an Israeli startup that utilizes artificial intelligence for fintech. Their platform helps CFOs and controllers close the disconnect between accounts payables and the broader organization. Stampli is now offering the new Stampli Card, which it says will allow AP teams to issue, control, and process corporate cards inside its platform.
AP is accounts payable. AP teams are primarily responsible for processing and tracking the entire payment process, overseeing purchase orders and invoices, as well as managing travel and business expenses.
Founded in 2014 by brother Eyal Feldman (CEO) and Ofer Feldman (CTO), Stampli is a complete AP automation platform that brings together accounts payable communications, documentation, and payments in one place. The company states that by centering communications on top of the invoice itself, AP departments collaborate and communicate better with approvers, vendors, and anyone involved with purchases, allowing approvals to happen 5x faster.
So, what does the new Stampli Card do? Well, the company promises clients that it will help them to “gain complete control and visibility over your corporate credit card spending with the only card solution integrated into the most powerful AP Automation platform.”
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Stampli says that the card will manage all corporate credit card transactions and invoices in one place.
The Stampli Card is built on top of the Stampli platform. AP teams can issue, limit, suspend and cancel cards on-demand. With AP controlling card issuing, Stampli promises that the proper approvals and controls happen in advance of any transactions, such as who is authorized to make the purchase, how much they can spend, what they can spend it on, and how often they can use the card (one-time, multiple-times, or cyclical). AP can also pre-define specific fields such as GL-coding, vendor, and more to ensure the proper cost allocations.
Eyal Feldman, Founder and CEO of Stampli, said in a blog Post, “Our primary focus will always be to build the tools to empower AP, and offer our customers the flexibility to select the appropriate ways to do this for their business – whether that means managing everything within Stampli, or relying on Stampli for your core invoice processing and using other tools to complete payments in your preferred way.
“By creating a flexible, reliable, and AP-first platform, our hope is to empower finance teams everywhere to combat shadow spending,” he added, “while upholding effective and efficient controls to manage to spend no matter the payment type. In this way, AP teams and Controllers can be the strategic partners they’re meant to be.”