What Airbase’s Silver Stevie Award says about spend management.
We live in a time of innovation as technology transforms every aspect of our personal and professional lives. This makes Airbase’s 2022 Silver Stevie Award in the Most Innovative Tech Company category a noteworthy honor and one we are proud to announce. Standing out in the world of technological innovation confirms what we’ve been saying all along: spend management represents a game-changing approach to an important activity for every company — the safe, efficient, compliant, accurately recorded spending of company money.
Our award verifies that a revolution in accounts payable systems and processes is well underway and gaining recognition. For too long, the accounting and finance professionals in early-stage to early-enterprise companies have had to rely on inadequate software and manual processes as they struggle to keep up with their companies’ growth. This is ironically even true for companies that create excellent software themselves.
To fully appreciate the validation of the award, it’s important to note that the category includes all technology companies — and Airbase is the only spend management company awarded in any category. The Stevies (aka The American Business Awards) are among the longest established and most coveted awards for U.S. companies. This year, 3,700 nominations were submitted across all categories, from public, private, non-profit, and for-profit organizations in multiple sectors.
Judges’ recognition of spend management.
We were pleased to see that the judges clearly recognized what makes spend management valuable to companies. One judge commented:
“I like that the product brings a lot of visibility to corporate spending, which can help save a lot of money, has the built-in approval workflow feature, and offers a virtual credit card option. These abilities make this product a complete package in managing corporate spending.”
The innovation of spend management arose from multiple factors, including increased access to digital payment rails, cloud computing, and APIs. But having new tools doesn’t necessarily lead to great products. Another judge singled out our Definitive Guide to Spend Management, which credits the impact of design thinking on this innovation. Design thinking encourages a holistic approach to problem-solving, and applying its tenets to spending has led to a new broad and comprehensive approach to how companies spend money. Instead of traditional narrow and piecemeal solutions that approach the problems of AP incrementally, spend management uses workflows to create an intuitive, efficient end-to-end experience for all end users.
Good solutions are also all about a positive user experience. Another judge mentioned Airbase’s consistently positive reviews, noting, “Airbase has been consistently ranked highly and has a host of extremely well-regarded clients.” A positive experience by happy users is the ultimate goal, but awards like these are also exciting, particularly in a category encompassing innovation.
Congratulations to all who received an award!
Airbase offers a one platform solution to manage all non-payroll spend. It provides oversight and control over spending with real-time reporting and automatic syncing directly to your general ledger. Control all payments – physical cards, virtual cards, ACH, and checks – from one place. Close faster. Empower employees. Control spend.
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