Esker Adds More Visibility, Risk Management To Supplier Solution

Esker, which specializes in artificial intelligence (AI)-driven process automation software, has launched a new supplier management solution in its procure-to-pay automation suite, which will help businesses manage and automate their supply chains, according to a press release.

The new solution is cloud-based and will offer a 360-degree view of supply chains, helping to minimize risk and reduce the workload of procure-to-pay staff, the release states.

The service also offers more visibility, with the platform offering a comprehensive information collection process that only gathers exactly what is needed for each individual supplier. And all supplier activities, from new vendor registration and validation to documented audit trails, are visible to the necessary parties, letting companies send reminders when necessary for important business needs.

For suppliers, the solution allows easy uploading of information and onboarding, the release states, and can update and change information to eliminate time-consuming processes where one party has to chase another down to clarify something about the payment.

The solution will mitigate and reduce risk by verifying if information pertaining to suppliers is complete and correct. It will also leverage third-party data in order to streamline the process of checking for risks, so that businesses can approve new suppliers without having to leave the program.

According to Esker Product Manager Catherine Dupuy-Holdich, the new solution will enhance collaboration.

“We are continuously enhancing the scope of our [procure-to-pay] solution and providing a truly collaborative platform,” she said, according to the release. “Buyers and suppliers alike want a comprehensive supplier management policy to generate sustainable business relationships, compliance and process excellence.”

Supply chain managers are thinking of new ideas amid the global pandemic. According to a PYMNTS report, companies will likely turn to machine learning (ML) and Internet of Things (IoT) technology to help supplies move faster along the chain.

’Twas the Night Before PYMNTS

PYMNTS HOLIDAY POEM

A Holiday Poem

 

’Twas the night before Christmas in the year twenty-four,

When the CFPB stirred like never before.

The firewalls were up, and the systems secure,

As open banking loomed, both exciting and sure.

 

The bankers were nestled all snug in their beds,

While visions of APIs danced in their heads.

With data rights and access, and new rules galore,

The industry was changing right down to its core.

 

When out on the network there arose such a clatter,

I sprang from my desk to see what was the matter.

Away to the dashboard, I flew like a flash,

Turned on all alerts, ready to clash.

 

The glow of the screens in the new command center

Gave a luster of high-tech to each data preventer.

When what to my wondering eyes did appear,

But a quantum-encrypted sleigh and eight tiny reindeer.

 

With a little old driver so lively and quick,

I knew in a moment it must be St. Nick.

More rapid than real-time payments they came,

And he whistled, and shouted, and called them by name:

 

“Now, Section 1033! Now, Dodd-Frank! Now, FinTech and Blockchain!

On, Data Rights! On, Privacy! On, Pay by Bank and Open Banking!

To the top of the cloud! To the top of the wall!

Now dash away! Dash away! Dash away all!

 

As phishing attempts that before filters fly

When they meet with detection, fail and die,

So up to the secure servers the coursers they flew,

With the sleigh full of safe tech, and St. Nicholas too.

 

And then, in a twinkling, I heard on the roof

The prancing and pawing of each little hoof.

As I drew in my head and was turning around,

Down the chimney St. Nicholas came with a bound.

 

He was dressed all in Kevlar, from his head to his foot,

And his clothes were all fitted with anti-theft to boot.

A bundle of secure chips he had flung on his back,

And he looked like a regulator just testing a hack.

 

His eyes — how they scanned! His dimples, how merry!

His cheeks were like firewalls, his nose like a cherry!

His droll little mouth was drawn up like a bow,

And the beard on his chin was as white as the snow.

 

The stump of a smart card he held tight in his teeth,

And the data encircled his head like a wreath.

He had a broad face and a little round belly

That shook when he laughed, like encrypted jelly.

 

He was chubby and plump, a right jolly old elf,

And I laughed when I saw him, in spite of myself.

A wink of his eye and a twist of his head

Soon gave me to know I had nothing to dread.

 

He spoke not a word, but went straight to his work,

And filled all the stockings with tech that won’t irk.

And laying his finger aside of his nose,

And giving a nod, up the chimney he rose.

 

He sprang to his sleigh, to his team gave a whistle,

And away they all flew like the down of a thistle.

But I heard him exclaim, ere he drove out of sight,

“Secure data for all, and to all a good night!”

holiday poem

Download the poem