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Singapore-based Summit Launches New AI-Powered Spend Management platform for SMEs

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Launched today, Summit is a platform that streamlines and automates spend management process via the use of smart AI-powered tools and workflows, reducing excess manhours and processing costs  Summit addresses the pain points commonly experienced by SMEs in adopting technology to digitise their business by offering a fair-use pricing approach ensuring affordability to leverage the solution across their business.

SINGAPORE, July 10, 2024 /PRNewswire/ — Summit, a Singapore-headquartered SaaS company, today announced the launch of its Smart Spend Management solution designed specifically for small to mid-sized enterprises (SMEs). Backed by key investors Global Founders Capital and Insight Partners, Summit aims to revolutionise spend management with AI-powered tools that simplify expense processes and enhance financial visibility and control.

Summit empowers SMEs by offering a robust, AI-driven platform that automates traditionally manual processes such as accounts payable and employee expense claims. Unlike other solutions, Summit adopts a fair-use pricing approach by charging businesses based on usage rather than per user, allowing for businesses to onboard as many employees as they would like to extract the full value of the platform. This usage-based pricing structure increases accessibility to as many users as required, allowing SMEs to leverage comprehensive spend management tools without the hefty costs typically associated with rolling out such advanced technology across their business.

“We understand the challenges SMEs face with manual and error-prone invoice and expense processes. Summit addresses these pain points by providing an intuitive, automated solution that saves significant time and costs. Our fair-use pricing approach ensures that no business is left behind, offering full access to our platform without the financial strain,” said Jo-Ann, CEO of Summit.

Summit’s platform integrates seamlessly into existing workflows, delivering real-time insights and streamlined processes. With smart automation, Summit can reduce invoice processing time by up to 75%, translating to over 45 hours saved monthly for businesses processing 300 invoices. This efficiency not only cuts down operational costs but also allows finance teams to focus on strategic initiatives.

By offering two main products—Vendor Invoice Management and Employee Expense Management—Summit ensures that SMEs have the tools to manage their spending effectively. The fair-use pricing model is designed to remove barriers to adoption, allowing businesses to onboard as many users as needed without incurring additional costs.

“At Summit, we believe that the benefits of AI technology should be attainable and accessible for all businesses, especially SMEs who often need it the most. We have designed our platform to be user-friendly and highly efficient, ensuring that businesses can benefit from the powerful capabilities of AI ” Jo-Ann added.

Summit is built with the user in mind, leveraging feedback from finance professionals to create a solution that truly meets the needs of SMEs. We are excited to launch Summit and provide a game-changing platform that makes advanced spend management accessible and affordable for all,” Jo-Ann added.

For more information, visit www.summitglobal.com.

About Summit:

Summit is a smart spend management software, designed by finance for finance teams, as a new challenger brand that helps businesses achieve value that is both significant and tangible. Acknowledging the need notably among mid-sized companies for a streamlined and automated vendor invoice and employee expense process, Summit offers a smart connected workflow experience that empowers finance managers to enhance financial controls, make faster decisions, reduce the risk of overspending, and save on time. Powered by a suite of smart tools that go beyond basic payment processing, Summit’s Software as a Service (SaaS) solution provides greater visibility, control, and efficiency.

Summit recognises the importance of workflow management for finance teams, and has developed a comprehensive Spend Management solution. There are two products offered in this suite – 1) Vendor Invoice Management tackles the challenge of managing vendor invoices and payables effectively and 2) Employee Expense Management that helps to manage and process employees’ reimbursements seamlessly.

View original content:https://www.prnewswire.com/apac/news-releases/singapore-based-summit-launches-new-ai-powered-spend-management-platform-for-smes-302191744.html

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MESCIUS inc. Recognized in 2024 ComponentSource Awards

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PITTSBURGH, July 19, 2024 /PRNewswire/ — MESCIUS inc, a global provider of award-winning enterprise software development tools, is pleased to announce that it has been recognized as the 2024 number two publisher and top five publisher by ComponentSource, the world’s largest marketplace for software components and development tools. ComponentSource also recognized MESCIUS for its many top-selling products on its annual listing.

Discover what MESCIUS products received top awards in the 2024 ComponentSource Awards.

As the component and tools market continues to expand with more mature technologies, MESCIUS inc. is pleased to offer high-performing and robust components that allow developers to “write once, deploy anywhere” across mobile, web, desktop, server, and multiple OS platforms.

ActiveReports. NET Professional received a #5 Product Award and a Top 5 Product Award. Spread. NET and ComponentOne Studio Enterprise were each honored with Top 10 Product Awards. ActiveReports .NET Standard and ComponentOne Studio WinForms received a Top 25 Product Award, while SpreadJS and Wijmo earned Top 50 Product Awards. ComponentOne Studio ActiveX, ComponentOne Studio WPF, and ActiveReportsJS secured a Top 100 Product Award. In addition to the various product awards, MESCIUS inc received a #2 Publisher Award and a Top 5 Publisher Award.

Publisher and product rankings are calculated based on ComponentSource’s actual sales orders placed by customers globally during 2023.

View the 2024 Publisher Awards List.View the 2024 Product Awards List.

“As with previous years, these awards are derived from the orders we’ve received from our global customer base,” said Sam Patterson, ComponentSource CEO. “They offer an authentic snapshot of the global market for commercial software components and development tools in 2023. We believe our awards provide precise, real-world insights into how our customers are utilizing these components and development tools in their most recent projects.”

“The rebranding from GrapeCity Developer Solutions to MESCIUS Inc. in 2023 marked a significant milestone, introducing not only a new name but also a revitalized approach to our product suite,” stated Joseph Lininger, Director of Marketing at MESCIUS (formerly GrapeCity). “We are delighted to continue our longstanding partnership with ComponentSource, which has been instrumental in distributing our .NET and JavaScript grids, UI components, reporting tools, spreadsheet and document APIs, and mobile controls. This collaboration ensures that our global developer community remains well-equipped with superior products and services they have come to expect from us.”

About ComponentSource ComponentSource is the world’s largest marketplace for reusable software components for all platforms. The respected barometer for the component industry, ComponentSource pioneered the open market for reusable software components in 1995 and continues to drive the market through its award-winning e-business model and groundbreaking work to establish the first widely accepted reusable component standard. A global e-business with customers in over 180 countries, ComponentSource is headquartered in Atlanta, GA United States and has offices in Reading, England, Dublin, Ireland and Tokyo, Japan. For more information, please visit http://www.componentsource.com.

About MESCIUS MESCIUS inc. is one of the world’s largest providers of developer components. The company retains 400 employees and hundreds of thousands of customers worldwide. MESCIUS inc. is committed to providing enterprises around the world with state-of-the-art developer tools and components, software services, and solutions. For more information, visit https://developer.mescius.com.

All product and company names herein may be trademarks of their respective owners.

View original content:https://www.prnewswire.com/news-releases/mescius-inc-recognized-in-2024-componentsource-awards-302201201.html

SOURCE MESCIUS inc.

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions

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Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit tKash.co.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tkash-celebrates-1st-anniversary-with-major-milestones-and-exciting-promotions-302201283.html

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion

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Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

For more information about Saronic, please visit: https://www.saronic.com.  

Media Contact: Press@saronic.com 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/saronic-raises-175-million-in-series-b-funding-valuing-company-at-1-billion-302201280.html

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