Esker, Inc. Acquires TermSync and Enhances Its U.S. Capabilities for Accounts Receivable Automation
January 29 2015 - 7:00AM
Business Wire
Esker, a worldwide leader in document process automation
solutions and pioneer in cloud computing, today announces the
acquisition of TermSync™, a Madison,
Wisconsin-based company that offers a cloud-based accounts
receivable (AR) automation platform.
Esker’s Accounts Receivable solution is the first software as a
service (SaaS) solution to automate the sending and archiving of
electronic and paper invoices — the latter through the use of Esker
Mail Services, a worldwide network of mail production facilities.
By allowing invoices to be delivered according to any format
preference and from any ERP/business application, Esker enables
suppliers to implement e-invoicing immediately while their
customers can adapt at their own pace.
Once the invoice is delivered, TermSync provides easy-to-use
tools for B2B companies that allow post-sale customer interactions
(AR and customer support) to be streamlined, automated and
modernized as much as possible. TermSync’s product solutions are
designed to benefit both vendors and their business customers
alike. Vendors use TermSync to manage their entire receivables
workflow, much like a sales team uses a CRM solution to manage the
sales activities. Their customers are given access to a portal
called Invoice Assist, where they can make free online payments,
view invoice information, ask questions, apply credits and more.
Companies using TermSync benefit in a number of ways including:
- Improved customer relations —
72% of people prefer an online self-service 24/7 option compared to
email or phone support alone
- Increased administrative efficiency
— the average AR rep can manage over twice as many customer
accounts when using AR automation
- Faster customer payments — the
average TermSync client achieves a 29% reduction in DSO after only
six months of use
A Mutually Beneficial Acquisition
Esker believes the acquisition of TermSync will not only
complement and enhance its existing AR solution offering in the
U.S., but provide significant opportunities for future growth.
“We’re very excited by this acquisition and what it means for
companies seeking to modernize the whole of their AR processes,”
said Steve Smith, U.S. Chief Operating Officer at Esker. “TermSync
brings a number of sophisticated capabilities to the table, from
collections forecasting to dispute resolution, which we are
confident will add a more dynamic dimension to our current AR
solution offering.”
“It was clear to me from the first day we started talking with
Esker that this would be a great fit,” said Mark Wilson, founder
and CEO at TermSync. “Our products obviously complement each other
in an area that is ripe for innovation and disruption, but it goes
beyond that. The people, culture and vision are also aligned. I
look forward to what the future will bring for all involved.”
About TermSync
TermSync currently connects over 350,000 companies through our
intuitive, cloud-based platform. Our technology operates in tandem
with existing workflows and systems, can be up and running in less
than a week, and receives rave reviews from our clients and their
customers. Through TermSync, clients are able to improve customer
relations, reduce administrative costs and get paid faster. We are
committed to finally bringing AR into the 21st century! TermSync is
located in Madison, Wisconsin. Learn more
at www.termsync.com.
About Esker
Esker is a worldwide leader in document process automation
solutions. Addressing all types of business processes, from
accounts payable and accounts receivable to order processing and
procurement, Esker’s cloud computing solutions enable companies to
automate the reception, processing and sending of any business
document with one platform. Esker helps over 80,000 companies
around the world reduce the use of paper and eliminate manual
processes while improving their productivity, efficiency and
environmental impact.
With 46.2 million euros in sales revenue in 2014, Esker operates
in North America, Latin America, Europe and Asia Pacific with
global headquarters in Lyon, France, and U.S. headquarters in
Madison, Wisconsin. Esker is listed on the NYSE Alternext in Paris
(Code ISIN FR0000035818). For more information, visit
www.esker.com. Follow Esker on Twitter at twitter.com/eskerinc and
join the conversation on the Esker blog at blog.esker.com.
Esker, Inc.Corporate Contact:Gina Leranth, (608)
828-6141gina.leranth@esker.comorInvestor Relations
Contact:Emmanuel Olivier, 33 (0)4 72 83 46
46olivier@esker.fr
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