Nimbello has launched an accounts payable (AP) automation solution to help firms modernize their processes.
The provider of purchase-to-pay cloud software for AP professionals said in a Wednesday (Jan. 25) press release that its latest platform helps businesses scale their finance operations, solidify their vendor supply chain, free up cash, increase efficiency and gain insights into spending.
“We have over 25 years of experience in the field and have developed a software that streamlines the AP process and provides a white-glove service to our customers,” Nimbello President Milind Agtey said in the release.
PYMNTS research has found that many businesses are implementing automation and digitization to reduce the amount of money, time and employee effort they expend on their AP processes.
Among the chief financial officers (CFOs) who are implementing AP automation solutions, 61% said their primary objective was to boost overall payments efficiency, while 45% said they hoped to increase cash flow and working capital, according to the “AP Automation Tracker®,” a PYMNTS and Beanworks collaboration.
Automated artificial intelligence (AI) and machine learning (ML) tools are being deployed as a key solution for the more manual and mundane tasks across many payments, banking and financial activities.
As intelligent, automated solutions grow “smarter,” their use cases will only become more attractive to businesses looking to solve long-standing challenges or friction points in AP processes that are often complex, paper-based and filled with legacy hurdles.
Digitization and automated accounting solutions can also help firms deal with the current shortage of accountants and audit lieutenants by reducing AP processes’ repetitive pain points while also freeing up time for these professionals to focus on what they find most interesting about financial operations.
The latest software platform from Nimbello, the firm that was formerly known as Easy Access, streamlines, simplifies and boosts the accuracy and timeliness of the AP process, according to the press release.
The company said in the release that it has recently raised capital that it will use to accelerate hiring and roll out additional functionality and services throughout 2023.
“Nimbello closely partners with its customers to modernize their financial departments and workflow processes,” the firm said in the release. “The company’s offerings enable an AP team to transition from administrative processors to strategic business partners.”
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