Listen to this articleBelow is our recent interview with the team from Airbase:
Q: Could you provide our readers with a brief introduction to your company?
A: Airbase is the only comprehensive spend management platform for small and mid-market companies. It combines three products — accounts payable, an advanced corporate card program, and employee expense reimbursements — into one system. Implemented individually, each product has all the core functionality you expect from a best-of-breed solution. Taken together, Airbase provides a consistent and efficient platform experience for all non-payroll spend. The automation of accounting and approval workflows results in visibility and control, a faster close, and real-time reporting.
Q: Any highlights on your recent announcement?
A: The appointment of Krishna Panicker to the position of Vice President of Product. Krishna will oversee product strategy and execution across the product and engineering organization at Airbase, and work with Founder and CEO, Thejo Kote, to continue the company’s rapid product growth.
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Q: Can you give us more insights into your offering?
A: Great innovations improve the way we do things. They also change the way we think. Airbase’s spend management is one such advance. Spend management platform automates control and booking processes for payables by integrating its software into the payment motion — for example, pre-approvals, limit settings, and automatic booking to the general ledger for corporate card purchases. But Airbase goes beyond this with a comprehensive system that automates a multitude of previously disjointed workflows into a unified platform for all non-payroll spend — cards, accounts payable, expense reimbursements. The Airbase innovation includes a breadth and depth of features, customizations, and complex payment handling to approve, book, and report all spend in real time. The results are far-reaching and transformational. Processes are simplified, better data is more widely available, low-value manual work is eliminated, a healthy spend culture is established, and visibility and control are ensured. We call it spendlightenment.
Airbase is the first comprehensive spend management platform for early-stage to early-enterprise companies. While others are beginning to follow in our footsteps, Airbase continues to offer unmatched depth and breadth of features, plus flexibility on choices for implementation, from free to full-featured. Unlike our competitors, we offer a variety of card options including Airbase, AMEX, and Silicon Valley Bank cards that run on our platform. Airbase users often note our ability to “think like accountants” in our workflow designs, while our intuitive, friendly user interface is more pleasant and easier to use than the others.
Q: What can we expect from your company in next 6 months? What are your plans?
A: The future looks bright for Airbase.
Most recently, the company celebrated its first virtual conference: Off the Ledger LIVE! Which featured a host of industry experts and a keynote from special guest chef Jose Andres. The event was a huge success and helped generate some powerful topics for finance and accounting professionals.
Airbase was also recognized by The Stevie® Awards as a Silver winner in The 20th annual American Business Awards® for Most Innovative Tech Company. The American Business Awards is the premier accolade for excellence in U.S. business, honoring organizations of all sizes and industries.
You can expect Airbase will continue to double down on its mission to empower accounting and finance teams to manage their non-payroll spend and allow them to focus their time on higher value activities. Through consistent approval workflows, accounting automation and real time reporting – we are giving accounting and finance teams the tools they require to manage their businesses today and in the future. You can expect additional functionality to help streamline and automate their existing workflows, reduce month-end close time, and allow all of their teams to spend to grow the business but still retain the visibility and control they require.
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Q: What is the best thing about your company that people might not know about?
A: Airbase is demonstrably the most fully articulated spend management platform for small to midsize companies. Spend management is a new approach to handling non-payroll spend with a focus on streamlining a process that is generally handled with a raft of point solutions and manual work. Spend management consolidates all spending whether by corporate card or by purchase orders into one consistent set of automated workflows that begin with approvals and carries through to booking to the general ledger. To get the scope and functionality of Airbase, a company would need to pay the price of expensive enterprise-level solutions that are generally over-engineered and complex for small to midsize companies. Our main benefits have to do with the “platform effect” of having all non-payroll spend on one system. It provides visibility and control, real-time reporting, and automation that point solutions simply cannot provide.
Airbase automates accounting and operational workflows to efficiently link payments to a company’s General Ledger.
Companies customize their approval workflows, and the system ensures the appropriate routing and compliance with even the most complex company policies for every payment type.
Current practices can stymie growth, degrade decision-making, and relegate finance staff to manual work. Airbase gives companies the efficiencies they need to grow from the first funding round to IPO and everything in between. Airbase modern spend management unlocks trapped talent, provides visibility and control over all non-payroll spend, shortens the time-to-close, and provides better budget management.
