January 23, 2015 — Dallas and Fort Worth, TX — Yooz, the cloud service that lets businesses instantly streamline their accounts payable (AP) workflow, today announced that CDK Global, the largest global provider of integrated IT and digital marketing solutions for the automotive retail industry, has chosen Yooz to power their AP automation offering for its dealership clients in the US. To enable end-to-end AP automation for CDK, Yooz has partnered with Nvoicepay, which is bringing the ease and simplicity of consumer payments to business payments. CDK will demo the new portal at the NADA Convention being held in San Francisco from January 22 - 25, 2015.
According to the US Bureau of Economic Analysis, the automotive industry is expecting strong growth in 2015, with sales likely to be close to 17 million units. This growth will mean more invoices to manage and payments to be made, while ongoing consolidation in the industry requires dealership networks to quickly roll out new technology across many locations in order to save costs and boost efficiencies.
With Yooz, the thousands of dealerships using CDK Drive Dealer Management System can quickly and easily automate the time-consuming process of manually entering and processing hundreds of thousands of invoices annually. This means reducing costs by up to 70 percent and significantly increasing the volume of invoices processed in shorter timeframes to take advantage of early payment discounts.
Nvoicepay and Yooz have partnered up to give businesses a cloud-based service that is the most cost-effective and efficient way to automatically capture paper and electronic documents (invoices, purchase orders, expense reports), streamline the approval workflow, export the GL data and pay electronically.
"Teaming up with Nvoicepay is already showing its value as companies like CDK come on board to use our end-to-end AP automation and payments solution and reap the benefits of accounts payable intelligence," said Matt Williams, CEO of Yooz North America. "CDK is the leader when it comes to software for car dealerships, and we're ready to help them provide their dealers with the best user experience for AP automation plus significant tangible savings."
This automated AP solution, along with a complete ePayment solution, is part of the 140 meaningful innovations CDK is demonstrating at the 2015 NADA show.
"Many of our dealerships have multiple franchises which process tens of thousands of invoices per month. With Yooz and Nvoicepay, dealers get a modern experience for their AP workflow," said Justin Sprague, VP, Product Marketing, CDK. "The benefits are greater visibility, shorter cycle times and significant cost savings."
Yooz brings intelligence to AP automation. It is designed and built for the era of cloud computing, empowering SMEs to streamline their financial workflow in order to save time and money. Yooz was developed by ITESOFT (ITE: EN), a European company that has for more than 30 years been a leader in intelligent document capture and process automation. Yooz has more than 1,000 customers. For more information, visit www.justyoozit.com.
About CDK Global With nearly $2 billion in revenues, CDK Global™ is the largest global provider of integrated information technology and digital marketing solutions to the automotive retail industry and adjacencies. CDK Global provides solutions in more than 100 countries around the world, serving more than 26,000 retail locations and most automotive manufacturers. CDK Global's solutions automate and integrate critical workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles, with an increasing focus on utilizing data analytics and predictive intelligence. Visit www.cdkglobal.com.
Nvoicepay delivers strategic payments solutions to automate accounts payable, enabling customers to pay 100 percent of their invoices electronically, while realizing the financial benefits of payment optimization. Nvoicepay's cloud based products and vendor payment services reduce costs, increase efficiencies and maximize rebates, all with minimal effort. Nvoicepay serves thousands of customers paying hundreds of thousands of suppliers across multiple industries including healthcare, retail and financial services. More information about Nvoicepay is available at www.nvoicepay.com.
Read the original press release on Marketwired.