News Summary

• Brex and Rho today each announced AI powered enabled accounts payables offerings
• Their announcements coincidentally came out the same day competitor Ramp announced it had expanded into procurement
• This is further evidence that the companies in the space are clamoring to not only meet customer demand but presumably attempt to outdo each other in terms of what they can offer their customers to help control spend
• Brex today revealed Payables its AI enabled Accounts Payable AP offering while Rho announced new AI powered Accounts Payables automation capabilities
• Both companies expect their new offerings to increase revenue for their respective companies