Codat and PayTech have partnered to transform how commercial card issuers support clients to optimize their supplier payments through spend analytics.
Spend analysis is a critical service to help commercial clients optimize working capital by offering recommendations on how to best manage supplier spend patterns. However, these processes historically require heavy, manual efforts, making it challenging for issuers to deliver actionable insights to their commercial clients.
This problem is solved by combining Codat’s purpose-built supplier and spend data solution and PayTech’s market-leading spend and transaction analysis tool and $5 trillion proprietary data lake, OPTIMA.
By automating data collection processes and increasing the depth and quality of insight available, issuers can help their entire commercial client base optimize their spend and identify card-receptive suppliers in an intelligent and targeted manner.
With their extensive experience working alongside large issuers, both Codat and PayTech offer unique expertise and unmatched insight into corporate spending and supplier payments.
Learn more about the partnership from Codat’s CRO, Joey Rault, and Vincent Eavis, OPTIMA Co-Founder at PayTech below.
How the partnership works
1. With Codat’s technology, commercial clients can quickly and securely share their supplier and spend data directly from their ERP or accounting system in minutes. This enables issuers to access more accurate, comprehensive spend data from more clients, more frequently.
2. OPTIMA by PayTech then transforms the data into actionable insights on card-receptive businesses, utilizing supplier scoring and machine learning, enabling issuers to more effectively identify and target suitable suppliers.
About Codat
Codat is the data sharing & insights platform built for commercial banking.
About PayTech
PayTech is the data analytics platform and data lake built for mid-large and global buyers and suppliers.
