Cloud-based small to medium-sized business (SMB) platform Unifiedpost has announced its acquisition of crossinx, in order to help boost its order-to-cash (O2C) and procure-to-pay solutions, a press release said Monday (April 12).
The group plans to offer those services for both smaller and larger companies.
Unifiedpost will now also have access to the German market, which the release notes as important, along with the DACH region and Hungary.
Through bringing the businesses and solutions together, the companies plan to unlock “multiple avenues of additional value creation,” along with raising the financial guidance it has given to the market.
By adding over 350,000 small businesses from crossinx, the Unifiedpost network will now encompass around 1 billion businesses, and the partnership will be strengthened through crossinx’s expertise with corporate customers. Meanwhile, the crossinx customer base will reap the rewards of Unifiedpost’s payment and supply chain finance solutions.
“The acquisition of crossinx means a significant expansion of Unifiedpost,” said Unifiedpost CEO and Founder Hans Leybaert. “Not only do we strongly enlarge our geographical footprint in the DACH region, which is crucial for our pan-European roll out in 26 countries this year … important and new synergies are [also] created by this combination of businesses. This will result in an enriched value proposition across eProcurement, eInvoicing and payments, covering the full order-to-cash and procure-to-pay cycles, to all customer types in Europe.”
A recent PYMNTS study found that many B2B payments are still being made over the traditional rails that firms have used for decades. They use old payment tools and are still supported by older pre- and post-payment systems.
But some voices in the B2B space want to modernize the O2C cycle, which now seems to be going digital.
Companies need to run their systems as more than just several processes operating as a stack, PYMNTS wrote, with no silos to begin with.
Even some smaller businesses have gotten the message — that automation is necessary for any process that might have fraud or failures inherent.
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