A recent acquisition announcement could indicate increased automation activity in yet another business segment. End users in the payments space could see a surge in RPA and intelligent automation technologies aimed at the many manual processes that exist currently. American Express this week acquired Israeli technology provider Nipendo, which uses RPA and intelligent automation solutions to automate B2B payments processes.
Nipendo’s cloud-based platform streamlines the interactions between suppliers and buyers to optimize the procure-to-pay processes that currently move slowly.
“Businesses can face a number of challenges even before they make a payment, including finding the right suppliers, managing order processes and supply chain, as well as handling discrepancies and invoice reconciliation. These traditionally paper-based processes require heavy investments of time, effort, and money,” said Eyal Rosenberg, CEO and co-founder of Nipendo. “We are honored to become a part of American Express, excited about the synergy of our mutual vision and looking forward to serving as an important component of the new business value we can offer, by efficiently streamlining B2B payments.”
Financial terms of the agreement were not disclosed.