US-based DocuPhase has purchased accounts payable (AP) automation solutions provider iPayables to enhance its footprint and provide AP automation clients with improved offerings. The acquisition also enables DocuPhase to offer enhanced tools for the back-office C-suite across diverse segments, such as enterprise, mid-market, and small- and medium-sized entities.

Besides, the deal allows iPayables to add new features, including document management, web forms, payment processing and workflow automation technologies. Combination of these features has the ability to develop a comprehensive product that streamlines financial back-office procedures. Officials from DocuPhase said that iPayables expertise will strengthen their existing AP automation platform, and their partnership better positions both companies to serve as a one-stop-shop for the office of the CFO.

DocuPhase primarily provides business process and accounting automation as well as document management, data capture and payments technologies. With headquarters in Florida, the US, the company aims to invest in technologies that facilitate back-office automation and payment processing across various fields. DocuPhase also acquired Clearwater Payments In April 2021, DocuPhase announced the purchase of cloud-based electronic billing and payment solution provider Clearwater Payments.

The acquisition of Clearwater Payments marks the second acquisition by DocuPhase in 2021. Earlier in April 2021 the firm acquired Treeno Software. The acquisitions enable DocuPhase to offer end-to-end payments within the A/R and AP automation marketplace.

Clearwater Payments is a cloud-based electronic billing and payment solution provider that uses an open-API technology stack and rules-based payments engine to deliver custom EBPP tools and services. The firm supports and processes B2C and B2B payments for enterprise clients in banking, insurance, and utilities. .