PairSoft Acquires APRO to Expand Procure-to-Pay Platform
PairSoft acquired APRO Software Solutions, saying the combination will expand its enterprise financial automation capabilities and global scale. The tie-up resulting from the acquisition will create a global procure-to-pay, order-to-cash and bank integration platform that serves more than 1,700 organizations, the companies said in a Tuesday (April 2) press release. “APRO’s thorough understanding of order-to-cash and banking systems deepens […]
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PairSoft acquired APRO Software Solutions, saying the combination will expand its enterprise financial automation capabilities and global scale.
The tie-up resulting from the acquisition will create a global procure-to-pay, order-to-cash and bank integration platform that serves more than 1,700 organizations, the companies said in a Tuesday (April 2) press release.
“APRO’s thorough understanding of order-to-cash and banking systems deepens our commitment to automating critical financial processes for our customers, while offering new opportunities for our productivity-boosting and cost-saving technologies,” PairSoft CEO Matt Cotter said in the release.
APRO provides financial automation software that is tightly integrated with Oracle Financials platforms, enabling enterprises to automate high volumes of B2B payments and bank reconciliations, according to the release. It provides support for more than 1,800 banking formats and capabilities for touchless invoice processing.
PairSoft offers procure-to-pay software and technologies for mid-market and enterprise businesses, the release said. It integrates directly with a variety of enterprise resource planning (ERP) and customer relationship management (CRM) platforms and automates procurement workflows, invoice processing and payments.
“PairSoft complements our enterprise offering with robust analytics and deep ERP integration while expanding our worldwide presence,” APRO Co-founders Jacob van Diermen and Willem van Wijngaarden said in the release.
PYMNTS Intelligence found that companies in the retail and manufacturing sectors are investing in digital technology to improve their procurement operations and limit any business disruptions caused by future supply chain breakdowns.
Companies are doing so to modernize their operations and expand their businesses, according to the PYMNTS Intelligence study “Digital Payments: Modernizing Procurement Processes.”
Facilitating the supplier payment flow helps deliver insights and empowers firms to maintain their B2B relationships, Cotter told PYMNTS in an interview posted in July 2021.
“Everybody thinks procurement ends with a [purchase order (PO)],” Cotter said at the time. “Procurement doesn’t end until my suppliers are paid because I need to know whether I’m capturing volume discounts, and frankly, I need to know whether we’re treating our suppliers well.”
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