SAN FRANCISCO, Nov. 20, 2017 – Inspyrus, a Silicon Valley Fintech Software-as-a-Service (SaaS) company that specializes in transforming Accounts Payable (AP) and finance operations into profit centers, today announced it has been awarded the Innovative Payables Technology of the Year Award by PayStream Advisors for its innovation and breadth and depth of invoice automation solution.
Now in its eighth year, the annual PayStream Advisors Innovation Awards recognize software providers that deliver especially intuitive, useful, and progressive solutions for automating financial processes and which address the changing needs of finance and procurement professionals. Inspyrus’ Accounts Payable solution was evaluated by PayStream’s team of technology experts and beat out entries from over 90 vendors in the space to garner the prestigious award. Entries were evaluated based on providers’:
- Ability to meet the efficiency needs of a diverse range of customers
- Breadth of solution features for back-office processes, including Procure-to-Pay, Source-to-Settle, and travel and expense management
- Solution flexibility and configurability
- Visual quality and intuitiveness of the solution’s design
- Strategic focus and technology development goals
Renowned for its in-depth focus on the needs and requirements of professionals in the AP, finance and procurement space and its technology acumen, PayStream Advisors is a research and advisory firm laser-focused on business process automation in sourcing, supply chain management, procurement, AP, working capital management, payments, and expense management.
“We are extremely excited and honored to win PayStream’s Innovative Payables Technology of the Year Award for our radically different approach to invoice automation and game-changing technologies that deliver market-leading results for finance organizations — besting legacy AP imaging and discount management offerings currently offered in the marketplace,” said Nilay Banker, founder and CEO of Inspyrus. “We are proud to be recognized for challenging business-as-usual thinking and traditional market conventions by promoting real innovation that maximizes the potential of people, process and technology, and reshapes the role of the finance organization.”
Inspyrus’ patent-pending technologies and its unique approach to invoice processing enables organizations to automate up to 90 percent of their accounts payable operations and potential to deliver up to three times the cost savings compared to legacy approaches and competitive offerings, while also maximizing the capture of early pay discounts. What makes Inspyrus unique is its ability to integrate interactively and in real-time with a company’s enterprise resource planning (ERP) system, and its ability to support multiple ERP systems simultaneously — all within a single application. This has proven to accelerate the transformation of AP into a shared services model resulting in tremendous cost savings, and process and resource efficiencies.
“Inspyrus is radically changing the payables function through its unique and game-changing technology and innovative approach that is transforming AP from mere overhead to a profit center, elevating the strategic and revenue impact of AP and finance leaders,” said Jimmy LeFever, director, Research and Consulting, PayStream Advisors. “Moreover, Inspyrus’ approach to AP and working capital management provides unprecedented levels of system integration, process visibility and information access across all business units, divisions and ERP systems, eliminating traditional process bottlenecks and decision blind spots. This enables finance organizations to play an essential and leading role in digital transformation initiatives.”
Inspyrus is a SaaS solution that also offers a dedicated mobile app (native iOS and Android) enabling line-of-business and AP managers the ability to manage invoice processing anytime, anywhere and via any device. Inspyrus supports a variety of deployment models and pricing options for optimal budget and deployment flexibility.
Inspyrus is a Silicon Valley Fintech solutions and software development company that specializes in transforming Accounts Payable and Finance Operations into profit centers. As an Oracle preferred solution partner for Accounts Payable automation, Inspyrus provides solutions for Invoice Automation, Dynamic Discounting, and Supplier Enablement. Supported by several patent-pending technologies, Inspyrus provides out-of-the-box, real-time integration with leading ERP systems, including Oracle’s E-Business, JD Edwards, Peoplesoft and Fusion Applications, as well as SAP and IBM. Our solutions are used by some of the most esteemed brands and leading-edge companies in the world, across various industries, ERP systems, and geographies — with environments ranging from 2,500 invoices/month to over 450,000 invoices/month, across 30+ countries and 18+ languages. To find out more visit: http://www.inspyrus.com.