Corporate Spending Innovations and The Advantage Software Company Partner to Drive Joint Innovation and Shape the Future of Payments in the Advertising Industry
Partnership improves the way agencies electronically pay their vendors
Bonita Springs, FL (August 10, 2021) – Corporate Spending Innovations (CSI), an Edenred company and leader in electronic B2B payment solutions, announced an enhanced and renewed preferred partnership with the The Advantage Software Company for joint innovation and business development. The companies are collaborating on a solution, AdvantagePay, that will provide a new and improved way for the advertising industry to pay vendors electronically using various options such as virtual card, Automated Clearing House (ACH), and check from a new streamlined and centralized web-based module.
Corporate Spending Innovations and Advantage have been partners for nearly 10 years, signing their first agreement in 2011. CSI was a pioneer in payments automation for the media space, delivering a superior product that solved the unique and complex payment challenges of the industry.
“We have the power to do more together,” said Liane Sanson, President of Advertising & Media at CSI.
“Our partnership with Advantage is a testament to that and we believe this highly complementary partnership is a game-changer that expands our total addressable market and creates meaningful value for both CSI and Advantage. With a clear path forward, we will further invest in technology and innovation to bring state-of-the-art solutions to Advantage and their customers. I’m proud that it’s been such a success.”
“We have made a joint commitment to ongoing product improvement to bring greater value to our mutual customer base,” said Ellen Coulter, President of Advantage. “Today, approximately 20% of Advantage’s media buying agencies are using CSI for their payables.”
Coulter added, “CSI, Advantage, and our customers, jointly meet on a regular basis to improve the payments process and collaborate on product enhancements. Payments automation including virtual card, ACH and checks allow our clients to increase efficiency, reduce costs and drive net new income. This preferred partnership and the introduction of AdvantagePay later this year with CSI, is the deepest system integration we have. Embedding payment functionality into the Advantage AP workstream simplifies and streamlines accounts payable improving the overall client experience. I have complete trust and confidence in our ability to continually grow our business, customer loyalty, and innovative service offerings with CSI’s partnership.”
About Corporate Spending Innovations
Corporate Spending Innovations provides innovative payment solutions to world-leading brands with their highly secure corporate payment solutions that include CSI Paysystems, CSI Travel, and global-fleet fuel cards. Customers can automate 100% of B2B payables including virtual credit card, proprietary network, ACH, check, or foreign exchange with cross-border payments settled in local currency. The company is a certified Mastercard processor and has obtained Visa Ready for Business Solutions approval. Corporate Spending Innovations is part of Edenred (EDENRED.PA), a leading digital platform for services and payments and the everyday companion for people at work. For more information, please visit www.corporatespending.com.
Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting over 50 million users and 2 million partner merchants in 46 countries via more than 850,000 corporate clients. Edenred offers specific-purpose payment solutions for food (such as meal benefits), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions), incentives (such as gift cards, employee engagement platforms) and corporate payments (such as virtual cards).
True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility. Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. In 2020, thanks to its global technology assets, the Group managed close to €30 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
About Advantage Software
For over 40 years Advantage has been exclusively focused on helping advertising and marketing firms run more efficiently and more profitably. Supported by a staff of customer-focused ex-agency personnel, Advantage provides the only true all-in-one agency management system on the market, with over 800 agencies relying on Advantage every day. To learn more, please visit www.gotoadvantage.com.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.
Mary Brandon | SVP, Marketing