PRESS RELEASE:
ATLANTA, GA, and CHATTANOOGA, TN
February 6, 2023
Skyscend, Inc. today announced a partnership with Transcard, a global leader in payments and data technology.
Skyscend Pay, a cloud-native platform for Accounts Payable Invoice Automation (APIA) and Supply Chain Finance (SCF), is now integrated with Transcard’s SMART Suite, an embedded payments platform that makes it easy for organizations to disburse and manage payments of any type from any depository account and any legacy ERP application, accounting software, or system of record.
"Skyscend is excited to partner with Transcard to bring faster, more secure and streamlined payments to accounts payable,"
said Skyscend CEO David Sulfridge.
"Our customers will now have access to best-in-class embedded payment tools that can improve their operations and their working capital."
"Accounts payable is one of the most time-consuming and labor-intensive finance functions,"
said Transcard CEO Greg Bloh.
"The combination of SMART Suite and Skyscend’s APIA platform will provide organizations with unprecedented operational efficiency across the invoice-to-pay cycle, while unlocking new opportunities for buyers to maximize working capital through early payments."
Skyscend's APIA and SCF solution streamlines accounts payable (AP) processes by eliminating paper invoicing, accelerating invoice approvals, and capturing early pay requests. It helps close the participation gap in electronic invoicing by accepting all types of electronic invoices from suppliers. With invoicing automation, buyers can improve the efficiency of their AP operations.
On-demand early payment options enable buyers to keep the same payment terms or extend them while also providing suppliers with the opportunity to get paid ahead of the due date on their invoices.
Transcard’s SMART Suite eliminates friction in the payment lifecycle. Disbursements for invoices approved in Skyscend’s APIA solution can be made instantly or scheduled for later with just a few clicks of the mouse. SMART Suite enables users to disburse funds of any type, including ACH transactions, real-time payments, card payments, wire transfers, and cross-border payments.
SMART Suite will enable Skyscend users to disburse payments for approved invoices directly from the APIA solution. Payments are automatically reconciled in real-time in Skyscend’s APIA solution. Embedding Transcard’s SMART Suite with Skyscend’s APIA and SCF solutions will help buyers streamline their invoice-to-pay process end-to-end and maximize their working capital.
ABOUT TRANSCARD
We make frictionless payments a reality with comprehensive global payment solutions designed for banks, fintechs, and businesses of any size and in any industry. We deliver solutions for B2B payments, C2B payments, B2B2C payments, A2A automation, BaaS.
Our solutions combine unmatched multi-rail capabilities, embedded workflows, best-in-class integration, effortless reconciliation, and bank-grade security. These are some of the reasons that 550 businesses and more than 200 banks trust us with their payments.
ABOUT SKYSCEND INC.
Skyscend is the world’s first cloud-native supply chain network on blockchain delivering accounts payable invoice automation and on-demand supply chain financing. Customers using Skyscend Pay streamline their accounts payable process and maximize working capital, turning their accounts payable into profits. Skyscend empowers buying organizations to provide their suppliers with electronic invoicing and low-cost early payment options.
Skyscend is headquartered in Atlanta, GA and has offices in Canada and India.
For more details, www.skyscend.com
