Today in B2B payments, businesses are expected to see a K-shaped economic recovery, and Avalara acquires INPOSIA. Plus, Lendio reintroduces its PPP lending solution, TradeSquare debuts its B2B online marketplace, and NebulARC releases a logistics SaaS offering.
Tax Compliance Software Firm Avalara Acquires INPOSIA
Avalara, a tax compliance software firm with a focus on the business sector, said on Tuesday (Dec. 29) that it has struck a deal to buy INPOSIA Solutions GmbH. The Seattle-based firm, which did not disclose the purchase price, said in a press release that the transaction is expected to close in the first half of 2021. Avalara’s acquisition of INPOSIA Solutions is expected to enhance its offerings, with the German software company focused on “e-invoicing, digital tax reporting, and business and data integration,” the companies said.
Lendio Reintroduces Digital PPP Loan Application For SMBs
To speed up the approval process for small firms when the Paycheck Protection Program (PPP) opens once more, Lendio said it has rolled out its digital application again for small business owners to access funds dedicated for further loans via the program, according to a Tuesday (Dec. 29) announcement. “The Lendio team has been working to prepare and improve upon the technology that enabled us to facilitate over $8 billion in loan approvals in the first rounds of the PPP,” Lendio CEO and Co-Founder Brock Blake said in the announcement.
TradeSquare Introduces Marketplace For Australian Firms With Mirakl
TradeSquare recently rolled out the inaugural business-to-business (B2B) wholesale marketplace for Australian small and medium-sized businesses (SMBs) through the Mirakl Marketplace Platform. The company prepared and rolled out its wholesale trading platform in under four months through the help of Mirakl’s offering, according to an announcement from Mirakl. TradeSquare Founder and CEO Einat Sukenik said the firm’s mission is to provide small firms in the country with the power to receive products they require expediently and simply from one digital platform to dedicate less time to procurement and more time to helping clients.
NebulARC Launches SaaS Solution To Boost Shipment Tracking
Logistics software-as-a-service (SaaS) platform NebulARC has rolled out a new computer vision and 3D tracking service to help shippers monitor and track shipments in real time, a column by the company in The Times reads. The new solutions would help to do away with human error and improve efficiency by 25 percent, according to the company. “We have designed a one-stop solution that is tailored to meet the needs of our customers,” CEO and Co-founder Alok Sharma said in the column.
Report: ‘K-Shaped’ Recovery Divides Corporates, SMBs
The biggest brands in the U.S. — think Amazon, Starbucks, McDonald’s and Walmart — are expected to get even bigger post-pandemic, while small and medium-sized businesses (SMBs) fight for survival, the Financial Times reported Tuesday (Dec. 29). This disparate “K-shaped” recovery is expected to define the country’s economic rebound from the pandemic gripping the world, according to the news outlet. While people hunkered down, companies providing digital delivery of essentials saw business soar. Corporates that could quickly invest in new technology also benefited from the fast, unexpected pivot to living, working and learning online.
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