The Next-Generation of Accounts Payable Automation: Inspyrus

“Inspyrus is a Silicon Valley FinTech solutions and software development company that transforms Finance operations into a profit center with its innovative patent-pending technologies.” 

Building a reputation based on trust and excellence, Inspyrus delivers world-class solutions to clientele globally. Originally established as a business process improvement and systems integration consultancy focused on enhancing ERP systems for large, complex organizations, the Inspyrus team quickly discovered that there was a huge un-tapped market opportunity for automating Accounts Payable Operations in a fundamentally better way. 

Inspyrus released its first AP Automation software in 2010—Inspyrus Invoice Automation, which achieved rapid market success and marked the company’s transition to a software development and solutions company. Since then, Inspyrus has expanded its offerings to include fully integrated Dynamic Discounting and Supplier Enablement which uniquely work with all leading ERP systems on the market and include several patent-pending technologies. Inspyrus solutions support all deployment models including Cloud, On-Premise, Hybrid and as a Managed Service. 

Headquartered in San Carlos, California, they serve North and South America, Europe and Asia-Pacific. 

Unique solutions offered

Inspyrus offers the only solution on the market that provides integrated Invoice Automation, Early-Pay Discount Management and Supplier Enablement—supported by several patent-pending technologies and a cloud foundation. Additional offerings include the Inspyrus Mobile App, E-Invoicing, 360° Analytics, and pre-built integrations with all leading ERP and Procurement systems with Inspyrus Connect™. 

Invoice Automation – Eliminates paper, manual data entry and processing exceptions and accelerates how work gets done. Patent-pending technology enables companies to realize 90% automation and 3x the cost savings (compared to traditional methods) across their entire enterprise.

Total Discounting – enables companies to maximize early-pay discounts from suppliers by combining the best of both Traditional Discounting and Dynamic Discounting methods in a single integrated offering. It dynamically allows suppliers to request early payments in return for discounts, thus enabling organizations to save millions (up to 2% of corporate annual spend) by optimizing discounts and cash management. 

Supplier Central – Provides suppliers with a self-service portal to track status of invoices and payments, dynamically request early payments and quickly turn POs into invoices electronically—allowing companies to better manage cash and enhance supplier relationships. 

Inspyrus Mobile App - Offers a completely mobile-first application and user experience that dramatically accelerates business value by enabling processing and approvals to be done anytime, anywhere and via any device – eliminating traditional process bottlenecks and delays to get work done fast. Provides native iOS and Android support allowing users to receive notifications, approve, reject and re-assign invoices, check invoice status and view audit trail, view invoice images, add comments and attachments and much more.

Inspyrus Cloud – Offering on-demand and self-provisioned cloud deployments with multi-tenancy and sub-tenancy built from the ground up for all Inspyrus capabilities including Supplier Central, Total Discounting, Mobile, E-Invoicing and it’s unique real-time, Multi-ERP connectivity. 

Benefits Delivered

• Automates 90% of the end-to-end AP Invoice process for all major ERP systems
• Delivers 3x the cost savings compared to “legacy” operations and solutions - eliminating paper, manual data entry and process bottlenecks
• Enables companies to save millions (Up to 2% of annual spend) by optimizing both Traditional and Dynamic early-pay discounting
• Ensures corporate SLAs and regulatory compliance through real-time visibility of the entire business process
• Maximizes user productivity and responsiveness with a modern user experience, best-practice workflows, rich 360º analytics and multiple ERP integrations– all out-of-the-box
• Provides optimal budget and deployment flexibility with solutions in the Cloud, On-Premise or as a Managed Service and offering both OpEX and CapEx pricing models. 

Serving the most modern businesses in the world

Inspyrus’ top-rated and modern cloud solutions serve all industries (commercial and public sector) and any size organization (large, medium and small). It is experiencing high growth since every organization has an accounts payable department (that buys products & services and pays bills)—with an insatiable demand to save money, increase speed & efficiency and reduce risk. 

The company targets Finance Operations primarily catering to Chief Financial Officers, Controllers, Chief Accounting Officers, Treasurers, VPs of Shared Services, and VPs of Finance, Accounts Payable and Procurement. 

Inspyrus solutions are used by some of the most esteemed brands and leading-edge companies in the world, including Amazon, Salesforce.com, The Wonderful Company (and its portfolio of businesses/products), Verifone, CGI and Amway.

Setting the new standard

Inspyrus takes pride in being the “only one” in lot of things and finding the “better way” - an innovation company that transforms Finance operations into a profit center and being “the only one” on the market that provides integrated Invoice Automation, Early-pay Discount Management and Supplier Enablement. And, also the “only one” that provides real-time integration with all leading ERP systems on the market (including SAP, Oracle E-Business Suite, Oracle JD Edwards, Oracle PeopleSoft, Oracle Fusion Applications/Cloud ERP, and IBM Maximo)— out-of-the box and all with a single application. 

They deliver over 90% automation to their customers, compared to only 20% automation provided by competing legacy solutions and approaches. Their secret sauce is their innovative spirit that leverages best of breed technologies to provide compelling, next generation solutions to address business challenges that up to this point have been deemed too hard or have gonelargely unaddressed. 

Proven Success

Inspyrus continues to experience rapid growth with over 50 customers across virtually all industries, ERP systems, and geographies — with environments ranging from 2,500 invoices/month to over 450,000 invoices/month, across 30+ countries and 18+ languages.

Examples include one of the largest IT Consulting firms in North America was able to see a 15x cycle time improvement by reducing what used to take 30-days to process an invoice to just under 2-days. They were able to experience an ROI in less than 10-months, with over $650K of savings in the first year and substantial reduction in late payment fees allowing it to fully participate in government contracts. 

Another example is a leading Consumer Packaged Goods conglomerate which was able to consolidate 10+ different AP operations with multiple ERP systems into a single shared service for all business units…Globally they went from 20+ days to less then 4-days to process a single invoice…by achieving 90% automation across their entire operation and were able to realize cost reductions of over 45%.

Knowing the Key Executive

Nilay Banker (Founder & CEO) with over 20 years of experience with cutting edge technologies and successfully delivering business software products for Fortune 500 companies, Nilay is a Stanford Computer Scientist. Previously, as Director of Product Development for Oracle, he was instrumental in developing new technologies and product-winning strategies, as well as taking these products to market.

"Our mission is to provide the most innovative game-changing solutions that fundamentally transform Finance Operations into a profit center”

To find out more visit: www.inspyrus.com