Invoice Stream, Inc., a cloud-based SaaS Accounts Payable (AP) automation platform targeting small-to-medium sized businesses (SMB’s), announced the release of Invoice Stream 3.0, which includes enhanced functionality and a new B2B payment integration. The firm also launched its new website , and is simultaneously announcing a pricing model that provides new clients with unlimited invoice automation for a low flat monthly fee with no start-up or implementation costs and no contracts.
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Commenting on announcement, Invoice Stream CEO Vaden Landers said, “When I got involved in this business as both the principle investor and Chief Executive Officer, I did so for a couple reasons; 1) I saw a tremendous opportunity in a fast growing segment of the B2B space, and 2) after speaking with many business owners and accounts payable professionals, it was very clear there is an underserved gap in the SMB sector when it comes to the accessibility of cost-effective and easy-to-implement AP automation solutions.
The fact that in this digital age paper continues to persist in AP departments at the level it still does, both in terms of invoices being presented for payment (whether received by mail or printed from a PDF) and the payments that are ultimately being made to suppliers via check, is truly mind-boggling. I expect that the ease and simplicity with which the Invoice Stream platform can be implemented, without the need for IT support or budget, will disrupt the Invoice-to-Pay sector as we deliver automation tools that are not always viable for businesses with less than $100M of annual spend.”
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Invoice Stream’s 3.0 release coincides with the launch of the company’s new website, branding and enhanced features and functionality that includes auto-coding of invoices, one-step coding and approval, and the ability to more effectively manage traditionally complex supplier terms and outgoing payments. “Our first two software releases really focused on the core issues facing AP professionals today. This latest iteration, which is the first of many to follow, allowed us to take user feedback and add functionality that further streamlined the review, coding, approval and ultimately, the Supplier payment function.
Every Buyer has its own unique set of Supplier relationships, each requiring accommodations in terms of how and when they will accept payment. What we have seen is that when AP departments have the ability to process and approve invoices in a standardized electronic format (not paper), they do so in just a few days versus weeks or even months, and they have the opportunity to more effectively negotiate early-pay discounts and optimize working capital. These are all essential features that are offered on the Invoice Stream platform. Finally, to ensure this technology is available to businesses of any size or shape, through our new Go-Green initiative we are offering all new customers up to six months of free invoice automation services,” Landers concluded.
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