Software-as-a-service (SaaS) provider Conexiom, which works in sales order and invoice automation, has received a $130 million growth investment from Warburg Pincus, according to a press release.
Conexium works to do away with manual processes, which are prone to errors and cost over $15 trillion annually in North America and Europe, the release stated. The company’s products deliver touchless accounts payable (AP) and sales order processing capabilities to manufacturers and distributors.
Modern businesses have used these services to redeploy resources to activities that offer greater profitability, quicker order cycle time and that deliver orders on time and in full, according to the release.
“Conexiom’s customers face growing challenges that are accelerating the need for automation solutions,” said Conexiom President and CEO Ray Grady in the release. “Our platform is mission-critical to our customers, helping them automate and scale their order-to-cash and procure-to-pay processes. This investment is great validation of our people, platform and market leadership and will help us accelerate product investment to meet growing market demand.”
Meanwhile, the company launched its Conexiom Platform in September, moving itself into supply chain and accounts payable automation.
Read more: The Conexiom Platform Automates More Supply Chain, AP Business Tasks
The Conexiom Platform automates documents for companies, working with order-to-cash and procure-to-pay. The platform takes data from purchase orders and invoices, among other things, and turns it into structured data in businesses’ systems.
According to Grady, the idea is to “help customers achieve transformative automation outcomes, not only in their order-to-cash processes, but throughout their entire supply chain.”
The company saw growth of 65% year over year in the first six months of 2021. That was mostly because of the bigger worldwide demand for automated O2C and P2P processes.
“By automating their operations, our customers are able to scale their human capital, cut costs, and most importantly — focus on their customers,” Grady said at the time.
Software program-as-a-service (SaaS) supplier Conexiom, which works in gross sales order and bill automation, has acquired a $130 million progress funding from Warburg Pincus, in keeping with a press launch.
Conexium works to get rid of guide processes, that are susceptible to errors and price over $15 trillion yearly in North America and Europe, the discharge said. The corporate’s merchandise ship touchless accounts payable (AP) and gross sales order processing capabilities to producers and distributors.
Trendy companies have used these companies to redeploy sources to actions that provide higher profitability, faster order cycle time and that ship orders on time and in full, in keeping with the discharge.
“Conexiom’s prospects face rising challenges which can be accelerating the necessity for automation options,” mentioned Conexiom President and CEO Ray Grady within the launch. “Our platform is mission-critical to our prospects, serving to them automate and scale their order-to-cash and procure-to-pay processes. This funding is nice validation of our folks, platform and market management and can assist us speed up product funding to fulfill rising market demand.”
In the meantime, the corporate launched its Conexiom Platform in September, shifting itself into provide chain and accounts payable automation.
Learn extra: The Conexiom Platform Automates Extra Provide Chain, AP Enterprise Duties
The Conexiom Platform automates paperwork for corporations, working with order-to-cash and procure-to-pay. The platform takes knowledge from buy orders and invoices, amongst different issues, and turns it into structured knowledge in companies’ techniques.
In response to Grady, the concept is to “assist prospects obtain transformative automation outcomes, not solely of their order-to-cash processes, however all through their complete provide chain.”
The corporate noticed progress of 65% yr over yr within the first six months of 2021. That was principally due to the larger worldwide demand for automated O2C and P2P processes.
“By automating their operations, our prospects are in a position to scale their human capital, minimize prices, and most significantly — give attention to their prospects,” Grady mentioned on the time.