Repay Holdings Corporation (NASDAQ: RPAY), a provider of vertically-integrated payment solutions, today announced a new technology integration with Optima Global Solutions, a software and services firm specializing in providing IT consulting and digital transformation solutions.
The integration will “enable Optima’s customers to further streamline accounts payable processes and securely pay vendors and suppliers directly through transcendAP, Optima’s intelligent accounts payable automation solution for efficient and secure payment of approved invoices.”
transcendAP, “built on Kofax TotalAgility, the intelligent automation platform, streamlines the procure to pay lifecycle through automatically capturing, extracting, classifying and processing purchase order and non-purchase order invoices.”
Available on the cloud, transcendAP “includes purchase order (2way) and receipt (3way) matching, role-based approval workflows, exception processing, notifications, intelligent GL coding, end-to-end analytics and real-time ERP integration to single or multiple ERPs.”
In tandem with transcendAP’s back-office benefits, the REPAY integration “allows businesses to seamlessly pay vendors by streamlining and automating digital outbound payments.”
Additionally, clients using REPAY’s technology “can significantly reduce their fraud risk and earn rebates through the use of virtual cards, which are designated for a single use and specific dollar amount.”
The two companies also partner “with Sigma Analytics, a professional firm that specializes in accounts payable optimization and monetization through utilizing advanced analytics to audit suppliers and accounts payable to identify and recover lost profits due to overpayments and errors.”
Together, REPAY, Optima and Sigma Analytics “offer a comprehensive digital solution for managing accounts payable that reduces risk, saves time and optimizes and monetizes AP payments.”
Darin Horrocks, EVP, Business Payments, REPAY, said:
“The accounts payable process is daunting for businesses across verticals. Through our work with Optima, we’re enabling a full service back-office solution, adding automated payments to a system that already simplifies workflows and makes it easier for businesses to operate at their full capacity and grow for the future.”
Mahesh Yadav, CEO, Optima, said:
“REPAY addresses a key requirement for our accounts payable customers looking to fully automate their payment processes. We are excited to partner with REPAY to provide our customers a market-leading, comprehensive payment processing solution. Customers enrolled in the program will have options to efficiently process payments by way of ACH, checks or virtual cards.”