This week, Ardent Partners unveils its second annual list of “CPO Rising Hot Tech Prospects” where we introduce and analyze the hot new prospects in the supply management technology market for 2015. Before we begin, let’s answer the big question — What’s the criteria for selecting a new prospect?
First, the emphasis here is on “new” when we use the term prospect; as such, established providers who have been successfully selling their solutions for years are not eligible. Second, the members of our “CPO Rising Class of 2015″ have had their early successes and are ready for the big leagues.
CPO Rising’s 2015 Hot Tech Prospect – Nvoicepay
Prospect “Bio:” Founded in 2009, Nvoicepay is a privately-owned Portland, Oregon-based provider of payment automation solutions with an office in San Francisco. The company’s cloud solution focuses on automating the business-to-business (B2B) payments ecosystem, and includes ACH, wire transfer, electronic print check, purchasing card, and some international payments. Nvoicepay provides value-added strategic and support services to enable its customers to drive greater value from its supplier payment process, including a Payment Command Center to simplify client work. With 1,200 customers, mostly in North America, Nvoicepay says they have billions of dollars in transactions flowing through the platform. They also currently partner with Yooz, MasterCard, NetSuite, Silicon Valley Bank, First Data, Corcentric, Global Payments Inc., Epiq Systems, Scan One, Coupa, and CDK Global.
Ardent Partners Expert Analysis: Payments have started to become more of a strategic focus in recent years, and Nvoicpay’s focus solely on solving this particular business problem puts them in a strong marketplace position. Nvoicepay’s goal is to manage 100% of its client’s supplier B2B payments, no matter what payment method is used; the company says it is frequently able to convert clients to 85% electronic payments within 90 days after implementation. The company manages all the payment types it provides—ACH, wire transfer, electronic print check, and purchasing card—through the same payment gateway, which means the user never has to switch to a different workflow. The solution overall is a straightforward offering for payments automation, and the company’s bevy of partnerships means it handily integrates with several prominent other solutions. They are also unique in the market because the company bonds and insures every payment that flows through their system, taking responsibility instead of disclaiming it as some payment solution providers do. The Nvoicepay solution’s simplicity and breadth of utility in the payments space make clear the company’s inclusion on this year’s CPO Rising Hot Tech Prospect list.
Congratulations to Nvoicepay on becoming our fourth CPO Rising 2015 Hot Tech Prospect!
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