Float expands its product portfolio with two solutions

These new solutions are Float Bill Pay and Float Reimbursements, and they aim to simplify non-payroll spending for Canadian businesses, offering features such as cashback, yield on deposits, elimination of FX fees, and assistance in saving up to 20 hours per month on manual expense submissions. 

Representatives from Float cited by Yahoo Finance expressed the company's dedication to improving corporate spending in Canada. They also highlighted the gap in the market, where Canadian businesses had to either rely on international solutions or settle for outdated local options. Float Bill Pay and Float Reimbursements are specifically designed to address the needs of Canadian finance teams. 

Float's business finance platform integrates reimbursements, corporate cards, credit facilities, and bill payments into a single platform. This consolidation aims to streamline spending management for businesses, eliminating inefficiencies associated with fragmented systems.

The main features of Float's new solutions 

According to a survey by the Angus Reid Group, Canadian finance leaders expressed the need for more efficient expense reporting and invoice processing. Key features of Float's new solutions include advanced OCR and AI technologies for bill intake, automated approval policies and workflows, support for EFT, ACH, and wire payments, and seamless integration with accounting software such as QuickBooks Online and Xero.

These innovations aim to underscore Float's commitment to addressing the specific needs of Canadian SMBs and enhancing the efficiency of their financial operations. As businesses adopt these new tools, they can expect more efficient operations, reduced administrative burdens, and a unified approach to managing non-payroll expenses.