In an effort to modernize a $127 trillion market that still relies heavily on checks and paper invoicing, payments technology provider and PF BlueSnap has acquired Armatic, a company focused on automating accounts receivable and invoicing.
Targeting B2B companies specifically, this new partnership will help businesses meet the invoice challenges that come with global expansion through a quote-to-payment solution designed to reduce costs while increasing sales, according to the press release.
While terms of the acquisition will not be disclosed, the collaboration will enable a comprehensive solution that offers customers digital invoice management with a global reach, automated accounts receivable and reconciliation functionality already integrated with major platforms, and a self-service portal aimed at facilitating customer autonomy.
“Today marks a major milestone for BlueSnap. B2B organizations are looking to simplify how they bill their customers and to get paid more quickly while reducing costs,” said BlueSnap CEO Ralph Dangelmaier in the same release. “We had already integrated the Armatic platform into our solution and shared joint customers, so we expect to generate tremendous growth through the addition of the Armatic team.”
This acquisition comes just on the heels of BlueSnap’s “Best B2B Payments Company” award from FinTech Breakthrough.
“We’re thrilled to join Bluesnap and continue helping companies with all aspects of their global invoice management,” said Thomas Cornelius, founder and CEO of Armatic in the same release. “We share the same philosophy, offering an all-in-one solution to clients in each of our respective fields, combining these two systems – one on payments and the other on invoice and subscription management. Our offering will benefit existing and new customers by providing deep payment integrations into the invoice management process to create more efficiencies and a better workflow.”