Palette has introduced a new version of its core solution suite, PaletteArena, which includes significant new features to enable enhanced integration with corporate and personal payment card expenditure, and improve purchase order management.
The enhancements will provide finance and procurement departments with a fully comprehensive solution that delivers greater control and management of all business revenue and expenditure, giving complete oversight of the entire purchase-to-pay process.
Palette Customer Base
The new solution will be available to Palette’s rapidly growing customer base of 1,600 businesses across Europe, North America and Australia, which grew by 10% in 2014. The growing customer base now includes organisations across a range of sectors including media, travel and food and drink, such as leading newspaper The Boston Globe, airline Canadian North, and coffee distributor Selecta.
Key enhancements in PaletteArena Version 6.3 include a completely new user interface to simplify key functionality and processes; further integration with PaletteConnectivityServices replacing paper based processes with their e-invoicing function; increased spend management through PaletteExpense enabling oversight of credit card expenditure; and improved purchase order matching enabling users to link invoices based on value as well as quantity.
- The new integration between PaletteConnectivityServices and Palette Arena…
…enables users to search for, and invite, suppliers to send e-invoices to PaletteInvoice, helping organisations to reduce the number of paper invoices it sends and receives, delivering greater accounting efficiencies.
- The enhancement to PaletteExpense to incorporate credit card transactions….
…means that credit card transactions can be imported to PaletteExpense. When the expense report is filled in PaletteArena 6.3 can also link credit card transactions to the report along with certain information from the transaction, automatically pre-populating the form. Credit card transactions connected to a company card can then also be matched against an invoice in the accounting view in PaletteInvoice.
- The enhanced purchase order matching….
….offers more options for matching an invoice to a purchase order, including basing matches on amount as well as quantity.
In total PaletteArena version 6.3 includes a wide range of enhancements to further advance functionality, simplify processes and improve the user experience while maintaining PaletteArena 6.2’s mobile capabilities and range of reporting and management facilities.
Palette’s CEO, Lars Ola Petters:
“PaletteArena 6.3, was developed with a clear focus on enhancing the entire purchase-to-pay function of businesses. It gives accounting and procurement departments a solution that further streamlines their processes while providing greater control and management of their finances. The integration with PaletteConnectivityServices and incorporation of credit card expenditure makes it easier for businesses to monitor and control spending on indirect items, improving the bottom line through better management of costs and efficient processes.”
About Palette Arena
PaletteArena is a complete enterprise purchase-to-payment suite, enabling users to achieve significant, measurable cost savings and efficiency gains in processing supplier invoices and purchase orders.
It includes the PaletteInvoice, PaletteMobile, PaletteMail, PaletteBuyer, PaletteContract, PaletteExpense and PaletteSupplier Portal products, giving a web-based end-to-end solution that improves invoice management from receipt to payment. It integrates easily with accounting, information and business systems to automate and streamline accounts payable activity across an organisation.
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