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Payhawk

www.payhawk.com link_icon

Market Research Report: Payhawk



Company Overview


  • Name: Payhawk

  • Mission: Payhawk's mission is to become the world's biggest bank without holding a single dollar, providing a marketplace where businesses can discover, manage, and use multiple payment instruments powered by a single experience.

  • Founded: Information not available.

  • Founders: Hristo Borisov (Co-founder & CEO), Konstantin Dzhengozov (Co-founder & CFO), Boyko Karadzhov (Co-founder & CTO)

  • Headquarters: Chancery House, 53-64 Chancery Lane, London WC2A 1QS

  • Number of Employees: Information not available.

  • Revenue: Information not available.

  • Known For: Payhawk is known for its comprehensive spend management solutions, offering pay cards, expense management, invoice management, business travel expenses, governance, and control functionalities within a single platform.


Products


Visa Company Cards


  • Description: Corporate cards (debit and credit) issued in multiple currencies, including features that enhance financial governance and manage cash flow.

  • Key Features:

  • Cards available in multiple currencies

  • Physical and virtual cards

  • CO2 reporting and tracking

  • Advanced spend controls and limits

  • Automated reconciliation


Expense Management


  • Description: A fully digitized system for employee reimbursements and travel expenses with advanced approval flows.

  • Key Features:

  • Instant reimbursements in 50+ currencies across 160+ countries

  • Real-time spend visibility

  • Automated data entry with OCR technology


Accounts Payable & Purchase Orders


  • Description: Comprehensive accounts payable software including purchase orders, invoice management, suppliers, and approval workflows.

  • Key Features:

  • Automated invoice processing

  • Custom approval workflows

  • 3-way matching for PO, invoice, and receipt notes


Business Travel Expenses


  • Description: Tools to track mileage, per diems, and out-of-pocket expenses.

  • Key Features:

  • Easy reimbursement process

  • Custom per diem rates

  • Integration with accommodation management tools


Multi-Entity Management


  • Description: Tools to manage cash flow and financial controls across multiple corporate entities.

  • Key Features:

  • Group dashboard for real-time visibility

  • Standardized settings across entities

  • Workflow management for seamless operations


Integrations


  • Description: Robust integrations with various ERP, accounting, HR, and other business management solutions.

  • Key Features:

  • Direct API integrations with NetSuite, MS Dynamics, Xero, etc.

  • Custom field management

  • Real-time data syncing


Recent Developments


New Products Launched


  • TravelPerk Integration Update: Enhanced integration allowing automatic reconciliation and easier travel expense management across multiple entities.

  • American Express Integration: Issue virtual cards while earning rewards for eligible U.S. Corporate or Business American Express Cards.

  • Workflow Designer: Advanced feature to create custom approval workflows for expenses.


New Features Added


  • Enhanced OCR: Automatic extraction of data from receipts and invoices, supporting 60+ languages.

  • Unified Global Expense Search: Simplified search functionality for easier tracking and organization of expenses.

  • Expense Footer Context: Addition of key contextual information such as Expense Type, Expense ID, and Owner in the expense footer for better manageability.


New Partnerships


  • J.P. Morgan Payments: Collaboration to support building a global payments infrastructure, enhancing multi-currency accounts, and safeguarding client funds for mid-size and enterprise clients.


Conclusion


Payhawk continues to lead and innovate in the global spend management and financial automation sector. Their commitment to security, customer success, and technological advancement propels the company toward achieving its mission of redefining global business banking without holding a dollar themselves.