Teampay Introduces Teampay for Marketers to Transform Marketing Departments’ Purchasing Process

NEW YORK–(BUSINESS WIRE)–Teampay, the all-in-one purchasing platform, today announced a new program for marketers looking for greater visibility and control of marketing spend during this time of economic uncertainty. Teampay for Marketers is a first-of-its-kind personalized offering designed specifically to help marketers spend at the speed of business–with proactive controls, upfront approvals, Slack and Teams integrations and real-time spend visibility.

Acknowledging that marketing teams often have the biggest and most complex purchasing needs, Teampay now offers a unique way to satisfy the CMO’s need to enable individual team members while managing all marketing spend with real-time centralized visibility. Teampay for Marketers gives the entire marketing department controlled, quick access to company funds, eliminating the headache of sharing a corporate card or waiting weeks for a purchase order. Plus, this solution offers on-demand visibility into the status of invoices, instantly improving vendor relationships without bogging down the finance department with back-and-forth follow ups.

“As CMO, making ROI positive investments is critical,” said Andrea Kayal, CMO at Electric. “With Teampay, I can make better, quicker decisions because I have real-time visibility into spend requests. Teampay not only reduces the hours it takes reconciling marketing expense reports and chasing down vendor payments with Finance, but Teampay also enables my team to make purchases, without borrowing a card or using their own personal funds.”

Traditionally, Marketers have been left in the dark when it comes to tracking spend against budgets and quickly identifying where to optimize across campaigns. With Teampay for Marketers, customers get:

  • Control and spend visibility in one central place across advertising, events, MarTech, and more

  • Streamlined invoice processing workflows that provide better visibility into tracking of purchase orders, invoices and bill payments

  • Seamless recurring payments for the entire marketing organization

  • Automations and integrations that enable marketing teams to buy what they need precisely when they need it; no more red tape or missed deadlines

  • Real-time reporting, with insight into category, vendor, purchaser and beyond, so marketers know exactly where their budgets stand without having to wait for Finance to pull actuals

  • Plus, coming soon: Smart notifications that help teams prioritize and track spend while cutting down on manual tasks—and more!

“As companies scale, marketing is one of the largest controllable expenditures, yet also one of the most critical drivers of growth, particularly in these uncertain times,” said Andrew Hoag, Founder and CEO of Teampay. “As the economy starts to cool, it is more critical than ever to give marketing teams real-time visibility into their spending, to ensure every dollar is being spent effectively and enable continuous adjustments without waiting for month-end close. We are excited to offer a more modern way to drive more efficiency into customer acquisition for our customers.”

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About Teampay

Teampay helps high-growth companies streamline the purchasing process across virtual cards, physical cards, invoices and reimbursements. The only purchasing software designed with employees in mind, Teampay’s automated workflows empower employees to quickly buy what they need while staying in policy. The platform issues secure payment methods with built-in controls and reconciles transactions into the customer’s accounting system in real time. This modern approach to purchasing eliminates unauthorized and out-of-policy spending, provides full visibility for finance and helps build better relationships between finance and employees. Teampay was founded in 2016 and is headquartered in New York City.

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