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  "documentTitle": "Airbase investment memo Series B",
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      "kind": "callout",
      "text": "Airbase is a reimagining, from first principles, how spend management should work in any business. We believe that our approach will be the default expectation of the market over the coming years...",
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      "text": "1. Make sure there is a good process to control spend before it happens.\n2. Pay the vendor once it's approved internally.\n3. Correctly categorize and record it in the general ledger (GL), ideally in a completely automated way.",
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      "text": "1. An archaic and periodic monthly close process which is an enormous amount of low-value, manual work...\n2. A lack of high-quality control and visibility into how money is spent by decision-makers across the business...",
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      "text": "No finance and accounting team - who are the primary stakeholders in the spend management process in mid-market companies - would design a siloed and fragmented system like this. They just don't think about the lifecycle of spending this way.",
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      "text": "In practice, the finance and accounting team care about three simple steps:",
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