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Veem: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

Supplier compliance

Payment solutions are increasingly intertwined with procurement and sales activity. Within B2B, this occurs at the enterprise level (e.g., as an extension or component of source-to-pay and order-to-cash, or O2C) as well as at the SMB and contractor levels. And it is happening on a global basis, as trade in both goods and services expands. Indeed, as cross-border trade continues to grow, specialized solutions for cross-border payments are more prevalent, reflecting similar increases in domestic payment options.

For businesses needing to send or receive payments, many options exist — like PayPal, Stripe, Hyperwallet, Amazon Payments, Transfermate, etc.

Within this market, Veem offers payors (or senders) the ability to pay companies without having to maintain vendor or contractor banking account details in their ERP. It enables payors to lock in foreign exchange rates in advance, to fund payments working with Veem’s Pay Later capability, and to move money without incurring expensive transaction fees.

This Part 2 of the series will explore those areas as well as Veem’s other strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider its analytics capabilities. Part 1 of our analysis provided a company and detailed solution overview and a recommended fit list of criteria for firms considering Veem. The third part of this series will offer a SWOT analysis, user selection guide and competitive market analysis.

With all that in mind, let’s dive into Veem’s product strengths and weaknesses.

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