LEHI, Utah, Sept. 5, 2019 /PRNewswire/ -- Divvy, the leader in spend and expense management, today announced a new product to give financial leaders greater visibility into budgets and total companywide spend. Bill Pay, designed to replace traditional invoice processes, joins the Divvy platform as another free tool to help businesses manage budgets and spend smarter.
Unlike other spend and expense management platforms, Divvy Bill Pay allows users to consolidate credit card spend and invoices under one budget, for a comprehensive, clear, and up-to-date view of the company's total spend. The new features allow team members to submit invoices, immediately reflecting on a given budget, with an option for financial leaders to later approve the final transaction.
"Businesses shouldn't be spending money to spend money," said Blake Murray, co-founder and CEO at Divvy. "We designed Bill Pay as a modern approach to an outdated process, giving leaders real-time control and visibility of credit card and non-credit-card spending, all in one place and tied to one budget."
Using Bill Pay, businesses can reduce time-consuming and expensive steps required to pay invoices—such as manually sending checks and initiating ACH transfers—while Divvy does the work to contact vendors about preferred payment methods, and remits payments on behalf of its users. Consistent with the entire Divvy platform, Bill Pay is free for all users, available immediately.
"Bill Pay is evidence of our ongoing commitment to be the financial nervous system of every business," said Tyler Hogge, VP of Product at Divvy. "Bill Pay, paired with the rest of the Divvy platform, offers financial leaders a single source for all their spend and expense management needs."
More than 3,500 businesses rely on Divvy to better manage their money. Launched in 2018, Divvy gives financial leaders a comprehensive view of budgets and spending within their organization. Since launch, Divvy has raised $260 million in venture capital and secured $750 million in debt and capital markets.
For more information about Divvy, visit getdivvy.com.
Divvy is a financial technology company with a mission to make money smarter by modernizing payment processes and expense management. With Divvy, businesses can make one-time or recurring payments using integrated virtual and physical corporate credit cards — each tied to dynamic limits controlled by centrally-managed budgets. Divvy also automates expense management, delegates payment process, and gives financial leaders real-time visibility and control of company-wide spending. Learn more at www.getdivvy.com.