Stampli Launches Digital Card for Invoice Management

Stampli Launches Stampli Card for Streamlined Vendor Payments

Stampli, a SaaS provider specializing in corporate invoice management, has recently unveiled Stampli Card.

Addressing the Challenge of "Shadow Spend"

Many businesses encounter vendors who either exclusively accept or strongly prefer credit card payments. This preference can introduce what Stampli identifies as “shadow spend” into financial processes.

Typically, corporate payments made via ACH, check, or third-party services are subject to rigorous controls and established procedures. However, requests for credit card payments can circumvent these systems.

These payments may be processed through an employee’s corporate card, bypassing standard protocols and potentially disrupting established financial workflows.

How Stampli Card Provides a Solution

Stampli Card enables accounts payable departments, or other designated teams, to generate digital cards with customizable parameters. These include spending limits and expiration dates, facilitating vendor payments without disrupting existing systems.

Accounts Payable maintains comprehensive control, with the ability to issue, limit, suspend, or cancel cards at any time. They can also define authorized purchasers, spending thresholds, and card usage frequency.

Furthermore, AP teams can predefine payment details, such as general ledger (GL) coding and vendor information, ensuring accurate financial reporting.

Seamless Integration and Automated Processing

Once a Stampli Card is used, the transaction is automatically captured and processed alongside other invoices within the Stampli platform.

Cardholders receive reminders to upload supporting documentation, like receipts, ensuring complete and auditable records.

While currently a fully digital offering, Stampli plans to introduce a physical card option in the near future.

Unified Payment Management within the Stampli Platform

Stampli Card is built directly into the existing Stampli platform, consolidating all payment methods into a single, unified system.

Whether payments are made via ACH, check, direct pay (launched earlier this year), or card, all transactions are managed through Stampli’s software, enhancing accounts payable efficiency.

Growth and Funding

In May, Stampli secured $50 million in Series C funding, led by Insight Partners. At that time, the platform processed approximately $20 billion in transactions, serving around 1,000 customers.

Currently, Stampli supports approximately 1,200 customers and facilitates $26 billion in transaction volume.

The company’s total funding now approaches $85 million.

Maintaining Customer Focus During Rapid Expansion

“A key challenge for a rapidly growing company like Stampli is preserving our core values and maintaining a customer-centric approach,” stated CEO Eyal Feldman.

“Ensuring our customers continue to experience the same close relationship with us, even as we scale, is a primary concern. This involves attracting the right talent and adapting our processes accordingly.”