Boston, MA--July 21, 2022--Scrypt, the next level payables automation provider, today announced its partnership with Finexio, the fast-growing digital Accounts Payable (AP) payments as a service company. The two companies are partnering to offer a combined solution that pairs Scrypt’s AI-driven payables platform with Finexio’s cloud-based infrastructure for handling B2B payments.
Scrypt continues to take the automation of the payables process to the next level with truly touchless AI data capture technology. By simulating human thinking, Scrypt can read any document or image, then learn, discover and perform judgment-based tasks on its own. Through the Finexio partnership, Scrypt customers will now have access to Finexio’s best-in-class payment offerings creating a completely streamlined and autonomous AP payments process – from invoice receipt through vendor payment.
“The overall customer experience is really important to us, which is one of the main reasons we chose to partner with Finexio,'' says Andy Vidan, Scrypt CEO and Co-Founder. “They offer white-glove supplier enablement, fraud and risk detection, payments and banking security capabilities, and strategic account relationship management that’s payment specific.”
Not only does the joint solution offer customers a better experience, but a significant ROI through the opportunity to eliminate 100% of paper checks. This drastically reduces the workload of finance teams and improves visibility to payment status while providing enhanced payments security.
Ernest Rolfson, CEO and Founder of Finexio said, “We are impressed with Scrypt’s AI-driven AP automation solution and their vision to deliver an end to end digital capture, approve to pay process. Finexio’s strategy of providing software infrastructure as a service to enable the critical “last mile” of payment execution and service within leading AP2P software aligns perfectly to Scrypt’s product and business strategy. We look forward to a successful B2B payments business offering together.”
Scrypt’s Integrated Payables and Receivables platform is a cloud-based solution that delivers next level automation. Powered by artificial intelligence and machine learning, Scrypt’s AI Data Capture Technology can read any document or image, learn over time and perform human-like decisions, eliminating the many manual touchpoints in otherwise automated AP and AR processes. In addition to increased efficiency and cost savings, Scrypt offers more accuracy and higher security than automated AP and AR processing that relies on humans. Learn more about Scrypt by visiting www.scrypt.ai.
Finexio, the leading AP Payments as a Service company, focuses on providing end-to-end AP payment capabilities embedded within Accounts Payable and Procure to Pay (AP2P) Software Platforms. The embedded nature of Finexio’s solution represents a powerful disruption to traditional, manual-based AP processes. Finexio's modern, efficient service model, minimal process charges, and breadth of payment solutions translate to high-margin revenue streams and a strong competitive position for AP2P partners seeking to provide payment offerings to their end users. Learn more about Finexio at www.finexio.com or follow us on LinkedIn.