Singapore Summit Introduces New AI Spend Management Platform for SMEs

10 Jul, 2024

Singapore Summit Introduces New AI Spend Management Platform for SMEs

Launched today, Summit introduces an innovative AI-powered spend management platform specifically designed for small to mid-sized enterprises (SMEs). This new solution from the Singapore-based SaaS company aims to streamline and automate expense management processes, significantly reducing manual workloads and lowering costs for businesses. Summit stands out with its fair-use pricing model, which charges businesses based on usage rather than per user. This unique approach allows SMEs to onboard as many employees as needed to fully utilize the platform’s features without facing additional costs.

Summit offers two main products: Vendor Invoice Management and Employee Expense Management. These tools are built to simplify financial processes and enhance control over spending. By leveraging advanced AI technology, Summit’s platform can cut invoice processing time by up to 75%, saving businesses over 45 hours per month for those handling 300 invoices. This increased efficiency not only reduces operational expenses but also frees up finance teams to focus on strategic initiatives. CEO Jo-Ann emphasizes that Summit’s mission is to make cutting-edge AI technology accessible and affordable for SMEs.

The platform integrates seamlessly into existing workflows, providing real-time insights and automating traditionally manual processes. With feedback from finance professionals guiding its development, Summit is set to transform how SMEs manage their finances and achieve their business objectives.