DocuPhase, which provides B2B automation services, has bought workflow automation Frevvo and intends to use it to help expand its work in educational fields, a press release said.
Frevvo was founded in 2008 and works with numerous industries including higher education and school, to help automate student enrollment, financial aid, transcript requests and more.
“Education is a market Docuphase has targeted for growth,” said Dan Gaertner, CEO of DocuPhase. “Frevvo accelerates that strategy with a customer base that features an extensive list of the world’s largest, most respected educational institutions. The simplicity of Frevvo’s technology inherently creates new market opportunities.”
He added that it could be used for things like deploying consent forms for elementary school field trips, or for other things like automating vendors or invoice approvals for companies.
DocuPhase is backed by LoneTree, a growth equity firm, since 2020, and the company has been investing in tech related to automation software.
Read more: DocuPhase Buys Clearwater For B2B Payment Processing Boost
PYMNTS wrote last year that DocuPhase bought Clearwater Payments, a cloud-based electronic payment solution, which processes “millions” of B2C and B2B payments for enterprise clients in banking, insurance and utilities.
And the company also acquired Treeno Software earlier in 2021.
The point of both acquisitions was to enhance DocuPhase’s ability to offer end-to-end payments for automated AP and AR needs.
“It is our mission to create an end-to-end accounting automation solution for our customers from the point of receiving an invoice to intelligent scanning, data entry and storage in their ERP system followed by completing the process with approval workflows resulting in fully automated electronic payments,” said Gaertner. “The acquisition of Clearwater Payments gives us that final piece to complete the mission,” one where they can provide a fully automated AP and AR solution for their customers.”
Meanwhile, Clearwater Payments CEO and chair David Kesler said the partnership would improve the company’s ability to provide bill payment services electronically.
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