OnPay Solutions, which works in accounts payable (AP) automation, has struck a partnership with business innovation intelligence platform CapX to offer new supplier payment automation for clients, according to a press release.
CapX allows clients to better adopt technology through a curated suite of products, holistic optimization strategies, and workforce solutions that can help with savings, efficiency and revenue streams, the release stated.
“We are thrilled to partner with OnPay [Solutions] and introduce our clients to the incredible benefits of accounts payable automation,” said Lindsay Tsumpes, co-CEO of CapX, in the release. “Our focus is on finding great solutions that can help organizations free up time, optimize operations, and reallocate valuable resources. We were impressed that OnPay’s solutions provide all of these benefits and more without any capital expense, making it a highly accessible tool for a variety of businesses.”
Neal Anderson, CEO and president of OnPay Solutions, said in the release that the company is glad to be participating in the partnership.
“Our mission is to empower people to improve the lives of accounting departments globally,” he said, according to the release. “We are excited to provide CapX with additional tools to help accomplish that mission by eliminating paper-based payments for their clients.”
Last year, OnPay Solutions Founder and Chief Operating Officer Julie Negrete-Anderson spoke with PYMNTS about the perception of switching to digital AP processes, which wasn’t as high as some companies seemed to think. She said some organizations hadn’t evaluated the costs because they were “baked into” how they were looking at department expenses.
Negrete-Anderson said companies failing to update their old-style paper methods would feel the burn when it came down to the financial cost of that paper, with the cost of labor and inefficiencies built into legacy workflows also not helping. She said some companies end up adopting a “don’t fix what isn’t broken” mindset, which can be tough to address because workflow optimization might not be able to be achieved just by adopting a digital tool.