Thought Leaders in Financial Technology: Expensify CEO David Barrett (Part 3)

Sramana Mitra: Let me address the points that you have made. The first point is that one of the most successful ecosystems where 30% of the apps revenue has gone to the company and has immensely added to the company’s success is Apple. It’s a platform ecosystem. 

David Barrett: I completely agree with you if you can monopolize a platform. That’s a very different world where you are a monopoly of a closed ecosystem. 

Thought Leaders in Financial Technology: Expensify CEO David Barrett (Part 2)

Sramana Mitra: What has changed in the market in the last six years? What are the big trends that are affecting your business?

David Barrett: I would say the collapse of the conference industry. For a while, there were accounting conferences where everyone would show up and pitch, but all that fell apart.

Thought Leaders in Financial Technology: Expensify CEO David Barrett (Part 1)

I first interviewed Dave in 2014. I suggest you read that interview first before reading this one.

This discussion is a terrific back and forth on a wide-ranging set of topics, including FinTech.

Very, very interesting!

Thought Leaders in Financial Technology: Procurify CEO Aman Mann (Part 3)

Sramana Mitra: I actually know quite a bit about this space. Just yesterday, I was talking to Coupa. They have seen great adoption in the enterprise space. Could you throw some light on the level of adoption of procurement software in the midmarket?

Aman Mann: It’s accelerating because of the idea of getting to distributed teams now. You see the trend to remote and how we think about improvement in systems.

Thought Leaders in Financial Technology: Procurify CEO Aman Mann (Part 2)

Sramana Mitra: It sounds like you’re going after the midmarket. 

Aman Mann: Yes. I don’t think anybody is still clear what the midmarket is as the economy grows. But I would call our space the midmarket.

Sramana Mitra: How do you define that? Are we talking $10 million to $500 million companies?

Thought Leaders in Financial Technology: Procurify CEO Aman Mann (Part 1)

Procurement and spend management software has gained good adoption in the enterprise.

Here, we discuss the mid-market situation for the sector.

Thought Leaders in Financial Technology: Marwan Forzley, CEO of Veem (Part 2)

Sramana Mitra: You have better rates on currency conversion? Double-click down on that for me.

Marwan Forzley: If you’re using the bank, you lose 2% to 4% in foreign exchange fees. That’s double our fee, which ranges from 0.5% to 2%. It’s cheaper than what you do today.

Thought Leaders in Financial Technology: Marwan Forzley, CEO of Veem (Part 1)

Cross Border B2B payments is still a big opportunity in FinTech. Marwan discusses Veem’s work in this area.

Sramana Mitra: Let’s start by having you introduce a bit about yourself as well as the company.