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MineralTree adds PO Matching to AP Automation Solution
MineralTree, the Cambridge, Massachusetts based accounts payable (AP) and payments solution, recently announced the availability of new purchase order (PO) matching and PO-to Invoice reconciliation enhancements for Microsoft Dynamics GP users of their Invoice-to-Pay solution. The MineralTree Invoice-to-Pay automation solution enables businesses to pay vendors by check, ACH, virtual card, or corporate card and integrates directly with a company’s bank account. The new enhancements should complement the PO functionality of popular accounting/ERP systems and will enable businesses to automate their daily tasks. MineralTree has made these enhancements available for customers of Microsoft Dynamics GP and NetSuite and plans to make them available for QuickBooks later this year.
Tradeshift and HSBC Partner, Integrate Finance Offering into Supply Chain Management
HSBC, the global finance bank, recently announced a new strategic partnership with Tradeshift, the cloud-based business network, that will integrate its financial management tools into Tradeshift’s network. Many constraints on access to working capital for small and medium-sized enterprises (SMEs) continue to cause problems for corporations that depend on these firms as suppliers. Through Tradeshift’s cloud-based software, many large companies are able to connect with their smaller suppliers. Their software has digitized manual and paper-based processes such as POs and invoices. HSBC, which has a stake in Tradeshift’s series D funding from last June, has been working with the San Francisco-based company to integrate the offer of supplier financing against invoice collateral into its platform. The offering will go live with integration onto the Tradeshift platform later this summer, and will not be restricted to only the largest suppliers. By putting finance into the supply chain, it will unlock finance and lend to more clients earlier in the production process, and at better pricing.
Kofax Releases New Cloud-Based Capture and Invoice Processing Solution
Kofax (NASDAQ: KFX, LSE: KFX) announced on April 4 the availability of ReadSoft OnlineTM R9, a new update to their cloud-based capture and invoice processing solution. ReadSoft Online automates the AP process by capturing invoices, extracting invoice data, and verifying invoices with ERP software, accounting, and other applications in the cloud. Some of the key enhancements with this new release include: upgraded capture capabilities to readily identify country-specific invoices, improved reporting for better extraction of key analytical data, and increased partner channel autonomy with simple integration.
Nivo1 & OnPay Solutions Partner, Integrate Solutions
Nivo1, a cloud-based AP automation provider based in Pittsburgh, and OnPay Solutions, a Florida-based provider of payment automation services, recently announced a new strategic partnership with plans to integrate their automation solutions. The integration will enhance Nivo1’s invoice automation solution, AP Express, and provide functionality and better access to payment automation services. AP Express customers will get access to OnPay’s payment platform, OnPayConnect, which will enable them to outsource supplier payments, reduce costs, and generate revenue through the use of virtual cards, ACH, wire transfers, or even a printed check. This partnership provides customers with a robust package where they will have a full P2P automation process.