Mazepay offers a platform that automates vendor management and purchase order workflows for finance and procurement professionals, addressing inefficiencies in managing numerous low-value suppliers. By streamlining long-tail procurement processes, Mazepay reduces operational costs and enhances productivity.
Funding
$8.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
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Founders
Product
Problem
Managing a large number of low-value suppliers through traditional procurement processes is inefficient and costly for finance and procurement teams. These processes often lack transparency, leading to difficulties in tracking spend and ensuring compliance.
Solution
Mazepay offers a spend management platform that automates and streamlines the entire long-tail procurement process, from purchase request to reconciliation. The platform provides features such as custom workflows, virtual cards, and automated receipt collection to simplify online payments, subscription management, and invoice management. By bringing long-tail spend online, Mazepay enables organizations to gain complete control and transparency over their spending, reduce risks, and improve operational efficiency. The platform integrates with existing ERP, finance, and BI tools, delivering data where it's needed and enabling smarter, faster decisions.
Target Audience
Mazepay is designed for finance and procurement professionals in software and enterprise companies who need to manage long-tail spend, reduce risks, and improve efficiency.
Features
- Customisable workflows with a visual builder to design purchasing policies and approval hierarchies
- Virtual cards for secure and transparent payments, issued only after purchase approval
- Automated receipt collection and reconciliation to simplify bookkeeping
- Supplier onboarding to reduce onboarding time and ensure compliance
- Data, reporting, and integration to access spend details and integrate with existing systems
- Multi-subsidiary support to streamline operations across borders
- Mobile app for uploading receipts and managing purchases on the go
- Real-time spend visibility and complete audit trail for enhanced control and transparency