Paymerang purchases KwikTag and Sypht

Thursday 13 April 2023 11:46 CET | News

US-based Paymerang has acquired KwikTag, an invoice automation provider for Microsoft Dynamics ERP systems, and Sypht, an AI data platform.


This is the second acquisition completed by Paymerang since receiving an investment from Aldrich Capital in 2018, cementing a new growth avenue for the company.

US-based Paymenrang has acquired KwikTag, an invoice automation provider for Microsoft Dynamics ERP systems, and Sypth, an AI data platform.

This acquisition fits squarely within Paymerang’s strategic roadmap:

  • It adds products with deep domain expertise and native integrations in the Microsoft ERP ecosystem, with a valuable community of channel partners;

  • It adds a proprietary AI platform, with modern APIs and multi-document capability, that will help Paymerang expand its solutions for the office of the CFO;

  • It adds an international presence with users in over twenty-five countries.

Both companies are SaaS-based, which will advance their integration into Paymerang. KwikTag customers will immediately get access to Paymerang’s award-winning payment automation solution, gaining an instant boost to productivity.

Augmenting invoices with automation

The combined solutions will enable customers to save AP departments thousands of hours annually, reducing the time needed to process and pay invoices from weeks to minutes, achieve peace of mind around data accuracy, security, and visibility while reducing the risk of payment fraud, and improve data extraction and visibility into cash flow while minimising manual data entry.

Since 2018, Paymerang has consistently grown revenue at an annualised rate exceeding 40% while expanding company operations, new product development, sales, and marketing, as per the press release.

About Paymerang

Founded in 2010, Paymerang provides a streamlined invoice and payment automation platform that brings finance departments into the modern age. Paymerang's platform saves AP departments thousands of hours annually, enhances visibility, increases accuracy, improves efficiency, and earns rebates while reducing paper, fraud risks, and operating costs.

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Keywords: acquisition, e-invoicing, digitalisation, payment processing, SaaS, Microsoft
Categories: Payments & Commerce
Companies: KwikTag, Paymerang, Sypht
Countries: World
This article is part of category

Payments & Commerce






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