Tech firm DocuPhase buys Enterprise-Focused AP Automation Company, iPayables By CIOTechOutlook Team

Tech firm DocuPhase buys Enterprise-Focused AP Automation Company, iPayables

CIOTechOutlook Team | Thursday, 02 March 2023, 06:16 IST

DocuPhase, a top supplier of document management, data capture, accounting, and payments technology, has acquired iPayables, a leading enterprise accounts payables (AP) automation and supplier management solution provider.

The DocuPhase solution benefits from iPayables' more than 20 years of specialised experience in payment automation technology for commercial clients. iPayables was founded in 1999.

DocuPhase is a market-leading document management platform with cutting-edge business and accounting automation features with over 20 years of expertise. The Tampa, Florida-based company has experienced exponential growth over the last two years as a result of its ongoing efforts to invest in technologies that enhance its position as a complete back-office automation and payment processing solution for a variety of industry verticals.

With the acquisition, DocuPhase is now able to contact new clients in the enterprise market and provide them with improved services. DocuPhase now offers reliable back-office C-suite solutions for enterprises, mid-market companies, as well as small- and medium-sized firms.

"iPayables has a history of tremendous success serving Fortune 500 organizations," says Dan Gaertner, CEO of DocuPhase. "Their expertise will strengthen DocuPhase's existing AP automation platform, and our partnership better positions both companies to serve as a one-stop-shop for the office of the CFO."

DocuPhase expands on the capabilities already present in iPayables by integrating technology for document management, web forms, payment processing, and workflow automation. Combined, these elements produce a complete product offering that streamlines all aspects of financial back-office operations.

"I'm enthusiastic about the many opportunities made possible by our partnership," says iPayables CEO Ken Virgin. "Our new combined offerings will allow both companies to reach a broader spectrum of clients and will accelerate our product roadmap as we lift the market at large toward what we call 'future payables.'"

In response to the growing demand for automation software on the market, DocuPhase keeps expanding its capabilities.

"Rising costs, employee shortages, and increasing compliance and security regulations continue to put pressure on financial offices to automate and simplify their major functions," Gaertner explains. "Automating manual and repetitive processes is critical to scale efficiently and maintain margins."