Flywire, a global payments enablement and software company, has acquired Invoiced. Invoiced is a SaaS platform that enables B2B finance teams and the Office of the CFO to automate the critical order-to-cash process.
This acquisition is expected to build on Flywire’s existing B2B payments business by enhancing the software suite it provides to its global clients and target segments.
Flywire plans to expand Invoiced’s track record of providing invoicing software to a diversified client base across industries and locations and reinforce its commitment to powering software and payments to its target B2B segment.
Invoiced’s SaaS platform enables B2B finance teams to automate accounts receivable (A/R) processes by managing invoices, communicating with payers, and reconciling payments to their ERP systems. And Invoiced does this with deep integrations with leading accounting systems and ERPs, including Oracle’s NetSuite, Sage Intacct, and Microsoft Business Dynamics.
The combination of Invoiced’s A/R automation software with Flywire’s proprietary global payment network – which supports diverse payment methods in over 140 currencies across 240 countries and territories around the world – is expected to provide the B2B payments industry with a combined full-suite software and payments solution that streamlines workflows for finance departments.
Businesses are increasingly investing in A/R solutions to improve their financial operations and cash flow management. And the accounts receivable automation market is expected to more than double over the next few years.
KEY QUOTE:
“We seek M&A opportunities that will help us enhance our value proposition and strengthen our financial performance, while underscoring our core thesis that software drives value in payments. We believe Invoiced is an ideal software complement to our existing B2B payments business. Invoiced will help us significantly accelerate our product roadmap, and its Accounts Receivable product focus has strong alignment with Flywire’s global payment acceptance capabilities.”
– Mike Massaro, Flywire CEO
