Nvoicepay's B2B Payment Solution Roars out of the Gate with $250M

  • October 28, 2010

October 28, 2010 — Portland, Ore.  Nvoicepay, the leading B2B e-payment solution for mid-size businesses, today announced their solution, AP Assist, is posting triple-digit growth in payment volumes and current customers are on track to move $250M through Nvoicepay’s Network in 2011. The phenomenal growth of Nvoicepay can be credited to its three most important attributes—it is simple to use, easy to implement and incredibly cost effective.

“It’s through this integration that our clients are able to seamlessly and easily process their payables in an electronic manner, which is more efficient and less costly.”

Electronic payments can save mid-market size companies like automotive and truck dealerships (Nvoicepay’s initial target vertical) tens of thousands of dollars a year, and can spare an accounting staff the heartache of spending the day printing and mailing paper checks. Unlike enterprise-class solutions that seek to retrofit an accounting department’s process to their system, AP Assist integrates with the user’s existing accounting system using the accounting controls and processes already in place. This translates into a solution that doesn’t force a major change on the user and is very easy to use.

Janet Hazeski, Controller at Stoops Freightliner in Indianapolis, Indiana, says, “Nvoicepay is saving us money with each transaction, but just as important, our staff really likes using it. They would much rather pay this way.”

In addition, Nvoicepay manages and maintains the information required to clear a transaction taking paperwork and security compliance headaches out of the process.

“Serving customers in the mid-market requires enterprise level services at a small business price,” said Karla Friede, CEO of Nvoicepay. “Enabling the delivery of our mission-critical, enterprise-class Payment Network is the Windows Azure cloud services from Microsoft. The Windows Azure platform has allowed us to go to market in less than 12 months.”

“Nvoicepay is a shining example of how the cloud – and the Windows Azure platform in particular – can enable fast-growing companies to rapidly scale their business, and get to market faster on a pay-as-you-go model,” stated Mark Hindsbo, Vice President of US Developer & Platform Evangelism for Microsoft.

“One of the critical attributes of the Windows Azure platform-based Nvoicepay solution is its ability to tightly integrate with our ADP Dealer Management System,” says Clifton E. Mason, Vice President of Product Marketing for ADP Dealer Services. “It’s through this integration that our clients are able to seamlessly and easily process their payables in an electronic manner, which is more efficient and less costly.”

In addition to its success with AP Assist in the automotive market, Nvoicepay is currently in the process of partnering with other vertical accounting software providers. For more information on Nvoicepay, AP Assist or third party partnership opportunities, please visit www.nvoicepay.com.

To learn more about the Nvoicepay solution, please refer to the following video case study and written companion piece: http://www.microsoft.com/casestudies/Case_Study_Detail.aspx?casestudyid=4000008505

 

About Nvoicepay:

Founded in 2009, Nvoicepay has grown rapidly in the automotive space to include a network that boasts hundreds of millions of dollars in transactions. Built with the needs of the mid-size business in mind, Nvoicepay makes electronic invoice payments simple by working with the dealership’s existing accounting software and managing and maintaining vendor information. The result is a B2B electronic payment solution that is simple to use, easy to implement and cost effective. For more information on Nvoicepay or AP Assist, please visit www.nvoicepay.com.

 

Read the original press release on Business Wire.

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