We’re excited to announce the release of SoftLedger Pay, our new AP payments solution. SoftLedger Pay rounds out our existing cloud accounting functionality, enabling us to extend our digital AP automation capabilities, providing an end-to-end procure-to-pay solution for our customers. To help make this possible, we have had the pleasure of partnering with Finexio.
Finexio is a fast-growing digital AP Payments as a Service provider, known for its signature white-glove service and support. Finexio offers software partners the ability to provide a service-centric approach to B2B payments. This results in mutually beneficial payment processes for both buyers and suppliers alike.
Combined with Finexio’s platform, we now offer customers a streamlined payment experience that is fully embedded within our own cloud-native accounting and reporting software. This improves the customer experience and operating results with integrated billing and payments. It also allows us to shift customers’ suppliers from high-cost and error-prone checks to virtual cards and other digital payment methods. This results in a cost reduction of 40% or more, and a decreased risk of fraud.
SoftLedger Pay has a very lightweight setup process, requiring minimal time and resources. And because it is SoftLedger-native, our pay feature will always integrate seamlessly with accounting. Additionally, our customer success team addresses any questions or concerns and will guide customers through this setup process.
Customers can now issue purchase orders and record vendor invoices and payments - all in one system. Complimenting SoftLedger’s existing AP module, with its ability to easily enter invoices through import and its multiple approval steps, SoftLedger Pay handles the rest.
But what does this really mean? A fully managed payment solution means that customers no longer need to spend time sending payments, reconciling, updating, and maintaining supplier or vendor information. Softledger Pay handles when to pay, how to pay, and payment method delivery. It validates your payments while identifying opportunities with your suppliers/vendors and manages exceptions, supplier communication, and support.
Finexio, the leading AP Payments as a Service company, focuses on providing end-to-end AP payment capabilities within Procurement and AP Software Platforms. As a result, this combination represents a powerful disruption to traditional, manual-based AP processes. Finexio's modern, efficient service model, minimal process charges, and total payment solutions translate to high-margin revenue streams and a strong competitive position. Finally, you can learn more about Finexio at www.finexio.com or follow them on LinkedIn.
A CPA with more than 10 years of varied public and private accounting experience, Ben has led many complex financial projects to successful outcomes.
Ben holds a B.S. in Accounting from the University of Maryland.