Flywire, a prominent player in global payments enablement and software, recently announced its acquisition of Invoiced, a leading SaaS platform renowned for automating B2B financial operations.
This strategic move is set to enhance Flywire’s B2B payment solutions by integrating advanced workflow automation software, which is specifically designed for mid-market companies to optimize their Accounts Receivables (A/R) processes.
The acquisition significantly broadens Flywire’s customer base and propels the company’s investment in innovative software and payment solutions tailored for the B2B sector. With this expansion, Flywire aims to tap into several billion dollars of both domestic and international invoicing volume currently managed by Invoiced annually.
Invoiced’s platform is engineered to empower B2B finance teams by automating the A/R processes, which includes managing invoices, facilitating payer communications, and integrating payment reconciliation directly with enterprise resource planning (ERP) systems. The platform’s compatibility with top accounting systems such as Oracle’s NetSuite, Sage Intacct, and Microsoft Business Dynamics positions it as a crucial tool for global businesses, further solidified by its recent accolade as the 2024’s #1 A/R Automation Software by G2 Crowd.
Mike Massaro, CEO of Flywire, commented on the acquisition, stating, “We seek M&A opportunities that will help us enhance our value proposition and strengthen our financial performance, while underscoring our core thesis that software drives value in payments.
“We believe Invoiced is an ideal software complement to our existing B2B payments business. Invoiced will help us significantly accelerate our product roadmap, and its Accounts Receivable product focus has strong alignment with Flywire’s global payment acceptance capabilities.”
The demand for automated A/R processes is soaring as businesses increasingly invest in solutions that streamline their financial operations and enhance cash flow management. The global market for Accounts Receivable Automation is projected to grow from $3.3bn in 2022 to $6.5bn by 2027, with a compound annual growth rate of 14.2%.
This surge is driven by the need for efficient, error-reducing software, cloud services, and integration with financial systems, highlighting the pivotal role of A/R solutions in boosting financial decision-making and ensuring compliance with international tax regulations.
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