Fintech News

WeFi Selects OpenText Email2EDI Solution to Launch Innovative Financial Technology Platform, IZZI

WeFi Selects OpenText Email2EDI Solution to Launch Innovative Financial Technology Platform, IZZI

Financial technology company automates data exchange with OpenText Email2EDI for faster and more efficient processing, reduced risk, and improved customer experience

 OpenText, announced that WeFi Technology Group LLC (WeFi), a financial technology company providing supply chain finance solutions to the IT industry, has selected OpenText Email2EDI to help process thousands of transactions on WeFi’s new advanced technology platform, ‘IZZI’.

WeFi has created a digital platform called ‘IZZI’ to strengthen its financing solutions through efficient transaction processing, enhanced data security and privacy, as well as data analytics and reporting. In need of a solution to exchange business documents from non-EDI vendors within the new platform, WeFi selected OpenText Email2EDI to automatically convert documents received via email into structured EDI data for internal applications.

Read More: DeFi Enabled, Enterprise Grade Hybrid Blockchain, XDC Network, Gains Compliance Edge

“For WeFi, a typical transaction sees orders, approvals, and invoices moving quickly between vendors, resellers, partners, and their company,” said Armand Brunelle, Managing Director, Technology at WeFi.  “All of those interactions need to be automated to be efficient, and OpenText Email2EDI is extremely efficient. In the finance business, we can’t make mistakes, and this solution makes our transaction processing that much cleaner and error-free.”

OpenText Email2EDI utilizes machine learning and one of the most advanced document and character recognition systems to capture paper-based data and populate procurement and order management applications. This solution can support the processing of tens of thousands of transactions per second, giving it the power to keep up with WeFi’s long term growth and business goals.

Read More: Financial Services are Experiencing Massive Adoption in the Philippines Through GCash

“WeFi is committed to delivering results, and OpenText Email2EDI provides the innovation, flexibility, efficiency and speed necessary for success,” said Muhi Majzoub, Executive Vice President & Chief Product Officer at OpenText. “Email2EDI quickly converts emailed documents into organized EDI data, delivering speed and savings, while reducing risk and loss of customers to complicated processes.”

For WeFi customers and partners who do not have EDI experience, Email2EDI offers a simplified onboarding that allows WeFi to quickly get new vendors operational. There is no need to provide complicated instructions or ask them to set up an EDI relationship – they simply send an invoice via email, the same way they would to anybody.

Read More: Payfare, Stride Bank Joining Forces To Expand Real-time Payment Options For The US Gig Economy Workforce

[To share your insights with us, please write to sghosh@martechseries.com ]

Related posts

Stellar Cyber Partners with CYRISMA to Integrate Risk Management Into Its Open XDR Platform

Fintech News Desk

Flywire Expands Digital Education Payments Business in Latin America

Fintech News Desk

MetaTrader 5 Has Become an All-in-One Core of the Pakistani Exchange PMEX

Fintech News Desk
1