TLDR:
– Global Founders Capital and Insight Partners have launched Summit, a Singapore-based SaaS company.
– Summit offers a smart expense management solution for small to mid-sized companies.
Germany-based Global Founders Capital and US-based Insight Partners have partnered to launch Summit, a Singapore-headquartered software as a service (SaaS) company. Summit aims to transform spend management for small to mid-sized companies with its smart expense management solution. The platform helps to modernize and automate manual accounts payable processing and employee expense claim processes, providing finance managers with greater visibility and control over spending.
Summit’s CEO, Jo-Ann, highlighted the frustration businesses face with manual invoicing and staff claims processes and the market gap for an efficient spend management solution. By leveraging smart tools, Summit aims to save valuable time and reduce operating costs for finance teams. The platform is user-centric, offering real-time centralized views of information, one-stop auditing and reconciliation of vendor invoices and staff claims, as well as intuitive interfaces and smart automation tools.
Summit offers two products: Vendor Invoice Management to streamline expenses from vendor invoices, and Employee Expense Management for employee-incurred expenses. With advanced algorithms and machine learning, the platform provides actionable insights while eliminating manual non-value-added tasks. By automating invoice processing, businesses can save up to 75% of time spent and potentially tens of thousands of dollars annually.
