EXECUTIVE INSIGHT
“We leverage AI and machine learning to predict supplier payment preferences with 90 %+ accuracy ”
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ERNEST ROLFSON , CEO & FOUNDER , FINEXIO
Q . WHAT STEPS DOES FINEXIO TAKE TO SEAMLESSLY INTEGRATE PAYMENTS WITH PURCHASING , FINANCING AND RECONCILIATION WORKFLOWS ?
» We ’ ve integrated with a very robust API stack into some of the world ’ s leading AP2P platforms . Two that come to mind that many would be familiar with are BirchStreet Systems , which is a leader in procure-to-pay in the hospitality sector and JAGGAER , which is a leader in several verticals , notably higher education .
By embedding directly inside those workflows , we allow end users to enable payments inside the software they ’ re already using without changing that workflow . But picking up where those procurement and AP2P systems end is really where payment starts . Previously , that was a disconnected workflow where purchasing , accounts payable and finance each had their own disparate steps , up to and including manual ones like printing and mailing cheques from another system or portal .
This gives you a hard time tackling reconciliation – matching payments and invoices to purchase orders to reduce errors or preventing duplicates . What we ’ ve enabled , instead of going to the accounting system where record-keeping traditionally has been , is moving it more into the procureto-pay systems . You can have all your payment methods in one place at the point of interaction where you ’ re saying , “ Yes , I want to buy this . Yes , I want to pay for this , you hit the ‘ approve button ’, and then the rest is taken care of .
66 March 2025