Orlando, Florida-based B2B Payments-as-a-Service (PaaS) platform Finexio is expanding its reach in the enterprise resource planning (ERP) software space and will now be available on Microsoft AppSource via a direct integration for Microsoft Dynamics users, according to a press release.
AppSource is Microsoft’s online marketplace and the a resource for Microsoft users who are looking for native Software-as-a-Service (SaaS) apps from Microsoft or other partners, the release stated.
Finexio, according to the release, offers a modern approach for companies to use tools to digitize payment processes and get rid of paper checks. Now, according to CEO Ernest Rolfson, being available in the AppSource marketplace will continue the company’s goal of “meeting customers where they work.”
“This is a huge step in our mission to simplify [accounts payable (AP)] payments for Microsoft technology users and to successfully support our shared customer and partner base,” Rolfson said, according to the release.
The release stated Finexio’s tools can integrate with other accounting and ERP tools, allowing for a faster, less expensive way to get suppliers and vendors paid without having to incorporate new teams and training.
Finexio’s network uses automation and artificial intelligence (AI) in order to identify, deliver and support custom payment methods, the release stated. That allows for new net cash flow and cost savings for AP, alongside complete transparency and control of the payment process.
In October, Finexio raised $23 million in a funding round, which the company said it would put toward streamlining and optimizing the last mile of the corporate AP process. That process involves the integrated supply chain finance (SCF) program designed specifically for use by middle-market companies looking to boost their cash flow or smaller businesses looking for better liquidity in the current volatile economy.
At the time, Rolfson called the company’s overall goal a “win-win” for buyers and suppliers and said it would make supply chains stronger.