B2B Payments

Nivo1 Upgrades AP Automation Tool

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Accounts payable software company Nivo1 is upgrading its service.

The company announced Wednesday (Feb. 1) that new features to its AP Express solution are out following feedback from existing customers using the tool. New features include receipt matching, line item-level invoice modeling, as well as a mobile app.

The AP Express mobile app, available for Apple and Android devices, enables professionals to approve of invoices on-the-go, a move Nivo1 said is part of an effort to accelerate the AP workflow and help businesses capture early payment discounts.

The company is also rolling out ExpressFields, a way to customize data entry fields that allow businesses to add up to 10 data entry fields to include more information on an invoice. Finally, Nivo1 said, it has improved the overall interface of AP Express to offer a more intuitive platform.

“This latest release demonstrates Nivo1’s ongoing commitment to providing the best solution at an affordable cost,” said the company’s product manger, Howard McKinney, in a statement. “We received very positive feedback from our current customers during a recent sneak preview of the release and are excited about the evolution of this offering.”

Updates to AP Express come just months after Nivo1 launched, in August of last year. In an interview with PYMNTS, CEO David Busch said the company would be targeting mid-market companies, which, he said, suffer from a lack of AP solutions.

“What you see in the industry — and it was a little bit of an eye-opener to us — is that there are not a lot of cloud players out there,” he explained. “There seem to be a lot out there for small companies that might do a couple hundred invoices a month.” But in the mid-market, he added, there seems to be a “lack of cloud-based solutions.”

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