Latest news with #AccountsPayable
Finextra
22-07-2025
- Business
- Finextra
Xelix secures $160 million Series B to advance agentic AIinnovation in accounts payable
Xelix, a leading agentic AI software company in the Accounts Payable (AP) space, today announced a $160 million Series B funding round led by global software investor Insight Partners, with follow-on investments from Passion Capital and LocalGlobe. 0 This funding will enable Xelix to accelerate platform development and support more organizations in adopting AI for their finance operations. For too long, companies have relied on manual processes and basic systems to manage Accounts Payable and vendor risk. As a result, enterprises lose millions each year to overpayments, face increased fraud risks and suffer from bloated and burdensome manual workflows. Recognizing the need for improved AP controls, Xelix's AI-powered platform seamlessly integrates with existing systems to detect payment errors and fraud, automate supplier statement reconciliations and streamline AP Helpdesk operations. Enterprise organizations such as Astra Zeneca, BAT, GSK and Virgin Atlantic have achieved millions in cost savings with Xelix whilst transforming costly, manual AP processes into automated, intelligent workflows. This investment follows a period of significant, capital-efficient growth for Xelix - driven by a differentiated product offering, massive customer ROI and a deep commitment to client support and value realisation. 'This funding marks a major milestone in our journey,' said Paul Roiter, CEO of Xelix. 'It allows us to accelerate product innovation, expand our market presence and reinforce our position as a category leader - enabling more finance teams to evolve Accounts Payable from a manual back-office function into a strategic, data-driven business partner.' Xelix's growth accelerated in 2024 with the addition of its Helpdesk module - an agentic AP ticketing tool for handling high volumes of supplier queries. Today, the Xelix platform offers three core solutions, processes over 115 million invoices annually and audits more than $750 billion in spend across 130+ global customers. 'Enterprise finance teams have long lacked an audit and control solution that is intelligent, proactive, system-agnostic, and efficient enough to support their high-volume workflows,' said Ryan Hinkle, Managing Director at Insight Partners. 'While spot checks are helpful, anything less than a full audit of every invoice leaves potential for fraud, mistakes, or abuse. Xelix uses AI to deliver a comprehensive control layer - helping enterprises eliminate overpayments and fraud risk while driving major efficiencies by automating day to day AP tasks. We are excited to back Paul, Phil, and the Xelix team in this next chapter of growth.' As part of the investment, Hinkle and Alessandro Luciano, Vice President at Insight Partners, will join the Xelix board of directors. Solano Partners, a boutique investment bank focused on founder-led software businesses, acted as exclusive financial advisor to Xelix on the transaction. Houlihan Lokey served as financial advisor to Insight Partners.
Business Wire
22-07-2025
- Business
- Business Wire
Euna Solutions Introduces AI-Powered Invoice Automation to Streamline Public Sector Workflows
ATLANTA & TORONTO--(BUSINESS WIRE)-- Euna Solutions®, a leading provider of purpose-built, cloud-based solutions for the public sector, announces the ability to automatically receive and rekey invoices with the introduction of AI-powered Optical Character Recognition (OCR), a powerful enhancement to Euna Procurement's Invoicing module. This capability transforms traditional invoice workflows by converting scanned and emailed PDFs into structured digital data, reducing friction and driving speed and accuracy across Accounts Payable operations. AI is the natural tool to use to address invoice processing, as it is a persistent challenge for procurement and Accounts Payable teams. Share "Manual invoice processing is a persistent challenge for procurement and Accounts Payable teams," said Mykola Konrad, Chief Product Officer at Euna Solutions. 'AI is the natural tool to use to address this challenge – this new capability frees staff to focus on strategic initiatives and accelerate payment cycles, ultimately strengthening supplier relationships through faster, more accurate invoicing." With invoice volumes rising and staff stretched thin, public sector agencies need smarter tools to keep operations running smoothly. Euna Procurement's AI-powered Invoicing module is designed to meet that need, helping teams move faster, reducing risk, and ensuring supplier payments stay on track. Key Benefits of AI-Powered Invoice Automation: Automated Data Entry: Euna's AI tool (Optical Character Recognition – OCR) automatically reads and transcribes invoices submitted as PDFs within the system or via email, reducing manual input and accelerating workflows. Error Reduction: Key data points like item numbers, descriptions, prices, and quantities are extracted from PDF invoices, allowing buyers to more easily transact with suppliers without cXML capabilities, minimizing manual input errors. Confidence Scoring: AI-powered error detection helps to ensure the accuracy of captured data, mitigating the risk of human error in the process. Faster Workflows: Invoices are processed more quickly from submission to approval accelerating processing timelines, allowing Accounts Payable teams to accomplish more with less. Learn more about Euna Procurement's Invoicing module by visiting About Euna Solutions Euna Solutions® is a leading provider of purpose-built, cloud-based software that helps public sector and government organizations streamline procurement, budgeting, payments, grants management, and special education administration. Designed to enhance efficiency, collaboration, and compliance, Euna Solutions supports more than 3,400 organizations across North America in building trust, enabling transparency, and driving community impact. Recognized on Government Technology's GovTech 100 list, Euna Solutions is committed to advancing public sector progress through innovative SaaS solutions. To learn more, visit
Globe and Mail
21-07-2025
- Business
- Globe and Mail
Accounts Payable Services Strengthen Retailer Stability as IBN Technologies Leads Modernization
IBN Technologies is helping U.S. retailers tackle financial complexity with trusted Accounts Payable Services. Their model simplifies multi-location operations, enhances payment accuracy, and reduces delays. With built-in reporting, policy compliance, and integration flexibility, IBN Technologies ensures retailers gain transparency and agility while focusing on performance and profitability. Miami, Florida, 21 July 2025 As U.S. retailers navigate rising invoice volumes, supplier complexities, and mounting compliance obligations, Accounts Payable Services have become a strategic tool for maintaining control and cost efficiency. With retail operations spanning numerous locations and involving diverse vendors, a centralized payables process enables businesses to avoid delays, preserve cash flow, and support smoother procurement cycles. Other sectors like manufacturing, healthcare, and logistics are also embracing this transition through dedicated accounts payable outsourcing to elevate financial accuracy and eliminate internal process inefficiencies. This shift represents a broader industry-wide move toward automation, visibility, and financial discipline. In today's competitive retail landscape, fragmented procedures no longer serve the needs of fast-moving enterprises. Leaders like IBN Technologies offer retail-specific Accounts Payable Services that replace outdated systems with scalable, reliable workflows. These services are now dedicated to managing vendor performance, accelerating reconciliation, and ensuring businesses maintain a long-term operational edge. Empower Retail AP Efficiency with Expert Financial Operations Support Manual Financial Operations Create Risk for Retail Businesses Cost instability and supplier-driven terms continue to affect retailers across the U.S., leaving finance departments overburdened. Without a structured account payable procedure, many companies encounter significant delays in approvals, inaccurate data, and vendor disputes. • Compliance failures due to inexperienced finance staffing • Incorrect entries causing disjointed transaction history • Inventory inaccuracies rooted in faulty payables data • Financial closing delays from poor reconciliation standards • Sluggish payroll execution affecting staff engagement • Low-grade protection of transaction and vendor credentials Through reliable Accounts Payable Services, retailers gain access to streamlined systems that eliminate common bottlenecks and boost audit readiness. Integrated automation and consistent controls allow for seamless operations while improving adaptability through a clear accounts payable process flow that supports organizational resilience and financial visibility. Retail-Centric AP Processes Delivered by IBN Technologies IBN Technologies specializes in Accounts Payable Services crafted for the operational scale and complexity of modern retail in Ohio. The firm integrates system-based logic with compliance-driven workflows, supporting end-to-end visibility and seamless vendor alignment. Recognized among top accounts payable companies, IBN ensures that every process—from invoice verification to payment authorization—meets industry standards. ✅ Matching invoices to approved POs and verified goods receipts ✅ Payment cycles defined by location-specific operating rules ✅ Real-time resolution of mismatches and vendor disputes ✅ Consistent maintenance of supplier profiles and payment histories ✅ Ledger reconciliation with ongoing financial activities ✅ Full reporting on payables activity and aging balances ✅ ERP system integration with retail purchasing and stock systems A well-structured accounts payable workflow process helps Ohio retailers avoid inefficiencies and address transaction challenges on a scale. IBN's approach empowers finance teams to redirect focus from manual entry to performance analysis and business forecasting. Retail Clients Benefit from IBN's Cost-Effective AP Execution Retail operations in Ohio experience major gains in both time and budget through IBN Technologies' Accounts Payable Services. Tailored for high-volume businesses and chain store environments, their service model supports continuous improvement, compliance alignment, and measurable cost reduction. ✅ Achieve up to 60% savings in AP processing overhead ✅ Cut invoice lifecycles by 30–50%, enhancing liquidity ✅ Boost invoice-to-payment accuracy with automated checks ✅ Reinforce supplier trust via consistent payment schedules ✅ Manage decentralized operations with unified AP control ✅ Add flexibility with support from an accounts payable specialist remote team Measurable Impact Demonstrated Across Ohio Retail Clients Retailers partnering with IBN Technologies in Ohio consistently report operational wins and enhanced process oversight. • A well-established apparel brand in Ohio reduced AP processing time by 85% and gained $50,000 in annual efficiencies by outsourcing to IBN. • One regional home goods retailer in Ohio achieved a 92% boost in payment precision, improving vendor loyalty and restocking timelines. These real-world outcomes confirm the role that outsourced AP can play in helping retailers move from reactive accounting to data-informed financial management strategies. Shaping the Retail Finance Landscape with Smart Payables Systems U.S. retailers are under mounting pressure to modernize legacy systems. With increased invoice loads, tighter vendor timelines, and compliance constraints, dependable Accounts Payable Services are critical to avoiding disruptions. Many companies are proactively replacing manual workflows with external service models to meet today's business expectations. Firms that specialize in retail payables are now providing essential support through automation, system consolidation, and insight-driven reporting. The accounts payable benefits they deliver go beyond transaction-level improvements—they promote scalable growth and stability. In a retail economy where every margin counts, advanced AP support has become a foundation for sustainable financial operations and long-term success. Related Services: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 26 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Globe and Mail
18-07-2025
- Business
- Globe and Mail
Accounts Payable Services Improve Inventory Flow for Retailers Across USA with IBN Technologies
Retailers across the United States are partnering with IBN Technologies to modernize back-office functions through Accounts Payable Services. The firm's solutions offer faster invoice handling, reduced administrative burden, and improved data accuracy. With scalable workflows and financial control, IBN empowers retail businesses to navigate cost pressures and complex vendor environments. Miami, Florida, 18 July 2025 Retailers across the U.S. are rethinking financial operations as invoice volume grows and vendor expectations rise. Accounts Payable Services are emerging as a central strategy to ensure fiscal discipline, vendor reliability, and faster cash flow management. In a retail environment defined by dispersed store locations, seasonal demand, and supplier complexity, the need for standardized financial processes is more urgent than ever. Healthcare, manufacturing, and logistics industries are also adopting similar models, driven by the push for accurate payments and compliance through efficient accounts payable outsourcing. This financial shift reflects a broader evolution across business sectors, where legacy systems are being replaced by dynamic solutions that emphasize speed, consistency, and cost control. The retail sector, particularly, depends on fast decision-making and coordinated vendor engagement. To meet these expectations, providers like IBN Technologies deliver tailored Accounts Payable Services that align operational control with high-level financial planning. These services now play a strategic role in enabling enterprise stability and positioning companies for scalable growth. Unlock New Efficiency in Retail AP Operations with Industry-Driven Solutions Retail Finance Struggles Under Manual Payables Retail companies continue to face rising pressure due to shifting product costs and stricter supplier terms. Manual processing systems often lead to serious delays, posing operational risks. Without a strong account payable procedure in place, many internal teams struggle to maintain accuracy, control, and compliance. • Insufficient financial staff causes regulatory breaches •Invoice mismatches increasing transaction errors • Inventory misstatements linked to AP data issues • Delayed reconciliations affecting financial clarity • Manual payroll slowing workforce efficiency • Inadequate security around vendor and customer data In this climate, Accounts Payable Services give retailers the tools to correct inefficiencies, automate documentation, and enhance security. By introducing structured workflows and comprehensive reporting, businesses gain control over costs while improving supplier communication. With streamlined accounts payable process flow, companies can better adapt to market changes and internal growth goals. IBN Technologies Delivers Comprehensive AP Management for Retailers IBN Technologies provides robust AP Services tailored for the complex retail environment in North Carolina. From invoice verification to payment approvals, IBN uses rule-based frameworks to eliminate errors and delays. Their depth of platform knowledge and industry compliance makes them one of the leading accounts payable companies supporting North Carolina retail. ✅ Systematic verification of bills against purchase orders and goods received ✅ Approval hierarchies to ensure payment policy adherence ✅ Vendor record curation and issue resolution protocols ✅ Timely payments managed per store-specific billing cycles ✅ Alignment of supplier data with in-house general ledger entries ✅ Customized dashboards for payment tracking and vendor performance ✅ Seamless connection with inventory systems and ERP tools IBN Technologies integrated accounts payable workflow process delivers real-time visibility and standardization, improving coordination between finance and operations. This allows North Carolina retailers to protect margins, reduce overhead, and focus efforts on growth initiatives and customer outcomes. Results-Driven Retail Finance with IBN Technologies' AP Support Retail brands in North Carolina using IBN Technologies' Accounts Payable Services have reported faster pay cycles, improved compliance, and reduced administrative costs. These services are optimized for multi-unit business models and high-volume retail environments. ✅ 60% reduction in finance costs through end-to-end process automation ✅ Faster invoice lifecycle reducing backlog by 30–50% ✅ High invoice accuracy through data-matching and audit-ready controls ✅ Strengthened supplier reliability with scheduled payment execution ✅ Consolidated AP oversight across distributed store networks ✅ Seamless collaboration through accounts payable specialist remote teams Retail Clients Experience Strong ROI from IBN Technologies North Carolina–based retailers across various niches have seen measurable performance gains after transitioning to IBN's managed AP solutions. • A regional fashion retailer operating 20+ stores in North Carolina shortened invoice processing time by 85% and saved $50,000 in annual processing costs. • A home furnishing retailer in North Carolina increased payment precision by 92%, leading to more dependable inventory delivery and fewer vendor disputes. These outcomes demonstrate that investing in expert AP support not only streamlines operations but also protects long-term business viability in an increasingly competitive environment. Redefining Retail Finance with Strategic Accounts Payable Support The growing financial strain in retail is pushing more businesses to re-evaluate their internal systems. With increased invoice load, compliance demands, and tighter vendor conditions, the need for dependable Accounts Payable Services has never been clearer. The transition from outdated processes to service-led AP models has created space for higher operational consistency and scalable results. Providers that specialize in retail-ready AP systems are essential to meeting these new standards. They help drive consistent accounts payable benefits such as error reduction, improved cash flow, and enhanced regulatory readiness. As the retail sector moves forward, AP service models are no longer a supplement—they are a strategic core of how companies build financial resilience and secure competitive advantage in complex markets. Related Services: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 26 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Globe and Mail
18-07-2025
- Business
- Globe and Mail
U.S. Retailers Embrace Accounts Payable Services as IBN Technologies Drives Financial Transformation
"Accounts Payable Services" IBN Technologies offers Accounts Payable Services tailored to the needs of fast-moving U.S. retail businesses. From validating invoices to integrating ERP systems, IBN Technologies structured approach improves cash flow, ensures timely payments, and reduces manual workloads. Multi-store operators benefit from consistent reporting, vendor satisfaction, and improved operational visibility. Miami, Florida, 18 July 2025 Financial complexity and rapid expansion in the U.S. retail sector have driven a strategic shift toward structured Accounts Payable Services, as leading firms seek streamlined cash flow and strengthened vendor relations. With invoice volumes surging and compliance demands intensifying, these services have emerged as central tools for financial stability. Particularly for multi-outlet retailers, a unified AP model ensures timely payments and tighter oversight. Beyond retail, industries such as healthcare, manufacturing, and logistics are also embracing these solutions to cut costs and modernize financial systems through accounts payable outsourcing models. Across the retail ecosystem, fragmented legacy workflows are being replaced with scalable platforms that prioritize accuracy, compliance, and cost efficiency. Fast-paced retail chains now require real-time reporting, centralized payment tracking, and vendor policy alignment to remain agile. Providers like IBN Technologies are stepping in with refined Accounts Payable Services tailored for retail businesses, delivering not just process enhancements but forward-looking financial support. These services are no longer viewed as transactional processes but as key enablers of business continuity, resilience, and strategic planning. Unlock Efficiency Across Store Networks with Expert Retail AP Guidance Unstructured Payables Processes Impede Retail Growth Price volatility and evolving supplier expectations are putting pressure on financial teams within the retail sector. Manual workflows, especially those lacking proper account payable procedure controls, often result in bottlenecks, delays, and compliance gaps that hinder business continuity and disrupt inventory cycles. • Insufficient accounting knowledge increases risk of compliance failures • Manual errors in processing degrade transaction reliability • Disjointed systems lead to flawed inventory and asset records • Reconciliation inefficiencies distort financial statements • Outdated payroll practices create labor-management issues • Limited safeguards around customer and vendor financial data Retailers must address these structural challenges to maintain competitiveness. Accounts Payable Services enable companies to implement automated, policy-driven systems that help streamline payroll, enhance inventory valuation, and maintain compliance. With clear accounts payable process flow, retailers can operate with better cost predictability and stronger vendor relationships. IBN Technologies Delivers Purpose-Built AP Models for Retail Finance IBN Technologies offers a portfolio of Accounts Payable Services crafted to meet the nuanced needs of retail operations in California. Their approach combines standardized procedures with system-wide integration for high-volume invoice processing, payment coordination, and record accuracy. Leveraging deep domain expertise and platform flexibility, they act as one of the most trusted accounts payable companies for retail financial transformation in the California market. ✅ Validation of invoice data and reconciliation with POs and vendor terms ✅ Structured approval flows for payments tied to goods receipts ✅ Consolidation and verification of vendor databases and records ✅ Timed disbursements in line with retail budget cycles ✅ Alignment of vendor account data with internal ledger structures ✅ Visual dashboards for transaction status, aging reports, and vendor metrics ✅ Seamless embedding of AP functions into ERP and inventory platforms The embedded accounts payable workflow process designed by IBN Technologies allows California-based businesses to reduce friction across supply chains, mitigate human error, and manage cash flow management policies effectively. This empowers internal teams to shift focus toward store operations and customer satisfaction without compromising financial discipline. Retail Success Backed by Tangible AP Enhancements IBN Technologies' Accounts Payable Services drive substantial business value for California retailers looking to reduce overhead and enhance vendor transparency. These services are designed to support coordinated activity across numerous store locations and streamline accounting cycles. ✅ Up to 60% reduction in administrative costs through centralized AP execution ✅ Invoice handling times cut by 30–50% to free up capital and improve liquidity ✅ Enhanced accuracy through automated checks and PO validations ✅ Trust-based supplier partnerships built on payment reliability ✅ Cross-location AP integration to support chain-wide scalability ✅ Flexible access through an accounts payable specialist remote model Real Retail Impact Through Proven Financial Transformation Retailers across California are experiencing real gains from structured AP partnerships with IBN Technologies. • A well-known apparel chain with multiple outlets in California realized an 85% improvement in invoice cycle speed and saved $50,000 annually through IBN's services. • A regional home décor retailer in California boosted payment accuracy by 92%, which led to better supplier collaboration and improved restocking efficiency. These examples underline the critical impact of working with an experienced outsourcing AP provider to strengthen financial integrity and sustain operational efficiency in competitive retail markets. IBN Technologies Champions the Retail Sector's AP Evolution As U.S. retailers face shrinking margins and greater operational complexity, demand for robust Accounts Payable Services continues to grow. Analysts point to increasing invoice workloads, more restrictive vendor terms, and tighter regulatory frameworks as drivers of this trend. Migration from manual processes to fully outsourced AP models is redefining financial management for the sector. Businesses seeking providers that understand the demands of the retail landscape and can deliver measurable outcomes—such as reduced costs, stronger supplier connections, and faster payment cycles. Companies offering advanced accounts payable benefits are playing a pivotal role in ensuring long-term financial health. In this climate, outsourcing AP is more than cost-cutting—it's a proactive, scalable method for securing a competitive edge and operational resilience. Related Services: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 26 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
