B2B Payments

Microsoft Teams With Yooz For AP Automation

Gig worker onboarding

Yooz, a company that provides a cloud-based purchase-to-pay automation solution for companies, has announced a partnership with Microsoft, according to a press release.

The partnership will combine Yooz’s paperless accounts payable technology with the Microsoft Azure cloud system to help companies automate their accounting processes and increase efficiency.

“By combining our expertise, we hope to offer a unique customer experience with a solution that is in perfect alignment with the main requirements of finance professionals as regards supplier accounts: reactivity, performance, flexibility and security,” said François Lacas, deputy chief operations officer of Yooz. “Creating the environment of trust and performance expected by companies and professional accountants, the partnership uniting Yooz and Microsoft is a major factor in the accelerated digital transformation of organizations, supported by AI (artificial intelligence) and the Cloud. At every level of our organization, every Yooz employee is proud to depend on this solid and sustainable collaboration to better serve our clients and our ecosystem.”

The partnership will help businesses increase value in their finance, accounts and purchasing departments by providing automation and speeding up processes while also checking for compliance.

“The digital transformation of companies is at the heart of the Microsoft mission,” said Jérôme Barrier, who leads Small, Medium and Corporate for Microsoft France. “Whatever their size, our ambition is to provide them with solutions that are ever more innovative and effective on a daily basis. Our partnership with Yooz is fully in keeping with this ambition, and we are delighted to be able to make their offer available to all of our [small to medium-sized businesses] and partner clients.”

Yooz said it offers companies a complete digital transformation, which dramatically increases administrative productivity, improves worker engagement and loyalty, and makes sure data is secure and compliant.

The company said its system’s perks include “eliminating the risk of document loss, standardizing document collection, significantly reducing data-entry time for invoices (this is halved) as well as approval timeframes…”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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