TUSTIN, Calif.--(BUSINESS WIRE)--SYSPRO USA, a global provider of ERP software, today announced a partnership with Priority Technology Holdings, Inc. (NASDAQ: PRTH) and their market leading accounts payable (AP) solution, CPX, enhancing SYSPRO’s already robust accounts payable capabilities. With this new offering, named Automated Payables for SYSPRO, powered by Priority CPX, SYSPRO customers can enable AP automation, digitizing supplier payment capabilities within SYSPRO ERP Software.
Previously, manufacturers would receive an electronic or paper invoice, which would trigger a series of manual processes that culminates in a paper check mailed to the vendor. It’s an expensive process, and error-prone, which delays payment, harms business relationships and racks up further costs. Finally, the process is vulnerable to payments fraud, a huge problem that affects 75% of companies, according to a report from J.P. Morgan.
Integrated with SYSPRO ERP Software, the solution digitizes and automates the AP payment process, providing flexible payment options. Vendors can automatically choose ACH, virtual card, check or wire to remit payment. The virtual card option is particularly advantageous – if the vendor pays in this way, instead of the manufacturer paying a per-check fee, CPX pays a rebate to the manufacturer on each virtual card transaction.
“With the SYSPRO ERP and CPX partnership, we provide manufacturing and distribution companies with a turnkey solution to digitally transform the way payments are handled,” said Sanjay Ejantkar, Vice President of Alliances for SYSPRO Americas. “This offering enables faster, efficient payments that are more accurate and secure.”
“We are thrilled about our partnership with SYSPRO and the opportunity to bring best-in class payment solutions to their customers,” said Stephen Tackett, Executive Vice President and head of the B2B division for Priority. “Together, our technology will provide a streamlined payment strategy that delivers greater fee revenue, while reducing manual processes and minimizing risk.”
For more information on SYSPRO and CPX, please visit us.syspro.com/automated-payables
SYSPRO is a leading, global Enterprise Resource Planning (ERP) software provider specializing in key manufacturing and distribution industries. For over 40 years, SYSPRO’s team of specialists have continued to address unique industry needs and enable customers to easily adapt and grow. The solution is scalable and can be deployed in the cloud, on-premise, or both, and accessed via the web on any device to provide customers with choice and flexibility.
SYSPRO remains focused on the success of partners and customers. Our evolving solutions are aligned with industry trends to leverage emerging technology that will enable partners and customers in securing a digital future.
With more than 15,000 licensed companies in over 60 countries across six continents, SYSPRO offers guidance and support every step of the way as a trusted advisor. For more information and career opportunities, visit SYSPRO.com
About Priority Technology Holdings, Inc.
Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.