The deal will expand the capabilities of PandaDoc’s platform for document creation, management, tracking and eSigning by adding Denario’s B2B payments service that allows small- to medium-sized businesses (SMBs) and startups to automate their accounts payable (AP) and accounts receivable (AR) functions.
“Our decision to invest in Denario was driven by a clear understanding of small businesses’ needs for a simplified workflow from ‘proposal to cash’ while also providing opportunities for software consolidation,” PandaDoc said in a Monday (Aug. 28) post on LinkedIn.
The Denario platform features automated invoice collection and centralization, instant invoice dematerialization, team approval workflows and custom permissions and invoice payments via email and text, according to the company’s LinkedIn page. It connects to all European banks and finance tools.
Denario focuses on the automation space and aims to add value by automating the multiple steps common in business payments — steps that do not exist in consumer payments, Philipp Adrian Pohlmann, who was CEO of Denario at the time and is now director of product and general manager of payments at PandaDoc, told PYMNTS in an interview posted in January 2022.
“There are just many more steps involved [for businesses], from receiving, paying, processing, reconciling and reporting the payment to reclaiming some of the [value added tax (VAT)],” Pohlmann said at the time. “The full cycle for a [business] transaction is just much longer than when you pay for a product as a consumer.”
PandaDoc will incorporate Denario’s tech capabilities into its platform, expand customers’ capabilities to merge document and payment workflows, and create a single platform for managing, collecting and reporting on invoices alongside contracts, the company said in its Monday LinkedIn post.
“[Denario’s] domain expertise, product vision and relevant tech stack make them the ideal fit to accelerate our offerings,” PandaDoc CEO Mikita Mikado said in the post. “We are committed now more than ever to empower PandaDoc users to run their businesses more efficiently from quote to signing, to payment collection and beyond, and adding Denario’s embedded payments technology to our product suite will greatly advance this mission.”
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