Tag Archives: press release


Paymerang Featured in the Richmond Times-Dispatch

Paymerang was recently featured in the Richmond Times-Dispatch after receiving another capital investment to expand their workforce and products. The $10 million investment comes from Aldrich Capital Partners, a Bethesda, Md.-based private equity firm. Aldrich previously invested $26 million in Paymerang in 2018, helping the company add employees and office space. The new capital infusion … Read More

Paymerang Receives Additional $10M in Funding

AP Automation Leader to Accelerate Growth and Deliver Complete Finance Automation Suite Paymerang, a leader in accounts payable (AP) automation solutions, announced a second round of financing from Aldrich Capital Partners in the amount of $10M, which follows-up Aldrich Capital’s initial 2018 investment of $26M. Paymerang will use the new capital to expand sales and … Read More

Paymerang Launches Industry-Leading Invoice Automation Solution

Benefits include numerous efficiencies in accounts payable processes. Paymerang, a leader in accounts payable automation, has launched an innovative Invoice Automation Solution designed to help organizations gain efficiency, improve accuracy, enhance visibility, and eliminate paper in their accounting processes. Paymerang’s Invoice Automation Solution utilizes artificial intelligence to read captured invoices and extract data points which … Read More

Procurement Partners, Paymerang Announce New Partnership

Best in Class Procure-to-Pay solution to offer award-winning electronic payables solution Procurement Partners, the senior living and post-acute care market’s fastest growing cloud-based eProcurement and invoice automation platform, has partnered with Paymerang, an award-winning accounts payable epayment and payment fraud solution. The partnership was finalized in June, and Paymerang’s services have become available to Procurement … Read More

Paymerang and M3 Announce New Partnership

M3, the hospitality industry’s #1 cloud-based financial and data management platform, has partnered with Paymerang, an award-winning accounts payable e-payment and payment security solution. The partnership was finalized on Dec. 4, and Paymerang’s services are expected to become available to M3 clients beginning on Jan. 1, 2020. “The collaboration with M3 is a prime example … Read More

Crush Payment Fraud Risk in 2019 with Paymerang and Visa

CFO Leadership Council hosted Paymerang and Visa for a national, collaborative webinar presentation. Our panel of payments and risk managment experts was comprised of Leigh Moore, Sr. Director B2B Partnerships & Innovations at Visa, Eric Waldenmaier, VP at Paymerang, and Jeff Gainer, Director of Information Security & Risk Management at Paymerang. The presentation was attended by … Read More

Paymerang Announces Partnership with Community Bankers’ Bank

Paymerang announces partnership with Community Bankers’ Bank. This partnership will provide Paymerang’s best-in-class electronic payables solution to CBB’s client community banks and their commercial customers. With Paymerang, community banks will be able to automate their accounts payable disbursements, making them more efficient, secure and profitable. “We are excited to welcome CBB’s banks to our growing … Read More

Paymerang Featured in the Richmond Times-Dispatch

Paymerang was recently featured in the Richmond Times-Dispatch after receiving another capital investment to expand their workforce and products.

The $10 million investment comes from Aldrich Capital Partners, a Bethesda, Md.-based private equity firm. Aldrich previously invested $26 million in Paymerang in 2018, helping the company add employees and office space.

The new capital infusion from Aldrich will be used to expand marketing and sales efforts and build new automated financial management solutions for Paymerang’s mid-market customers.

“It helps us to accelerate our growth rate and expand our reach across the country,” said Nasser Chanda, CEO of Paymerang. “It helps us to bring new talent into the organization, and it helps us scale our offerings to a much broader set of customers.”

Paymerang plans to add about 100 jobs this year to its current staff of about 150.

“On the technology side, we are going to be expanding our product development team,” Chanda said. “On the sales side, we are continuing to grow. We have a strong team of inside sales that we are trying to expand. Our operations team also has growth.”

The initiatives include adding additional accounts payable and accounts receivable components to its core payment automation solution — a product that has driven the company’s growth.

Paymerang will expand its Invoice Automation Solution, which saves time in approving and posting invoices, as well as in reducing errors through automated invoice capture and posting.

“Since our initial investment, we’ve been thrilled with Paymerang’s success,” said Mirza Baig, co-founder and managing partner of Aldrich, in a statement. “I believe this round of funding will accelerate growth and solidify Paymerang’s position as a premier provider of finance automation solutions.”

Read the full article in the Richmond Times-Dispatch.

Learn how your finance team can leverage the latest in finance automation technology by scheduling a no-obligation call with our team here.

Paymerang Receives Additional $10M in Funding

AP Automation Leader to Accelerate Growth and Deliver Complete Finance Automation Suite

Paymerang, a leader in accounts payable (AP) automation solutions, announced a second round of financing from Aldrich Capital Partners in the amount of $10M, which follows-up Aldrich Capital’s initial 2018 investment of $26M.

Paymerang will use the new capital to expand sales and marketing efforts and build new finance automation solutions for mid-market organizations. These initiatives include adding additional accounts payable and accounts receivable components to Paymerang’s core payment automation solution—a product that has driven the company’s incredible growth.

The payment automation solution is a SaaS based offering that enables AP teams to automate vendor disbursements. This solution provides push-button, mass vendor payments, and reconciliation, through a variety of payment modalities, to a network of over 400,000 vendors.

Nasser Chanda, CEO of Paymerang, commented, “Despite all the global challenges, it’s been a phenomenal year of growth for Paymerang, for our people, and for our clients. We’re excited to deploy this capital infusion to accelerate our growth, bring new talent into the organization, scale our core offerings, and further automate the office of the CFO.”

As part of a full finance automation initiative, Paymerang will expand its Invoice Automation Solution—which saves time in approving and posting invoices, as well as in reducing errors through automated invoice capture and posting. This Invoice Automation Solution, when combined with payment automation, provides complete AP automation from invoice receipt to payment settlement. Moreover, because it’s a paperless SaaS-based solution, clients can securely operate their finance department, either in the office or remotely.

“In the current environment, business continuity requires that organizations move from antiquated, paper-based processes to automated solutions that reduce costs and free up resources,” continued Chanda. “That being said, the majority of U.S. companies have yet to shift to an automated process, which provides us with tremendous opportunities to fill this urgent need.”

“Since our initial investment, we’ve been thrilled with Paymerang’s success,” stated Aldrich Capital Partner Mirza Baig. “I believe this round of funding will accelerate growth and solidify Paymerang’s position as a premier provider of finance automation solutions.”

Learn how your finance team can leverage the latest in finance automation technology by scheduling a no-obligation call with our team here.

Paymerang Launches Industry-Leading Invoice Automation Solution

Benefits include numerous efficiencies in accounts payable processes.

Paymerang, a leader in accounts payable automation, has launched an innovative Invoice Automation Solution designed to help organizations gain efficiency, improve accuracy, enhance visibility, and eliminate paper in their accounting processes.

Paymerang’s Invoice Automation Solution utilizes artificial intelligence to read captured invoices and extract data points which minimizes the amount of manual data entry. The product increases workflow efficiency through the ability to electronically route and approve invoices. Invoices can be ingested in bulk and split appropriately after they are loaded thus cutting down on time spent inputting invoices into the system. All actions taken on a given invoice are captured and documented, providing an electronic audit trail.

“Our solution uses the latest technology to save companies time in approving and posting invoices, and helps them reduce errors through automated invoice capture.” said Nasser Chanda, CEO of Paymerang.

Chanda further noted that the Invoice Automation Solution allows accounting professionals to gain immediate visibility to all invoices and their approval status, along with enabling companies to go paperless due to electronic processing and archiving.  

Paymerang recently provided a seamless integration of the Invoice Automation Solution to the accounts payable processes at Collegiate School in Richmond, Va. “We’re delighted with the efficiencies in approving and posting invoices that have been gained through this quality financial product,” said Jenn Quindoza, Controller/Risk Manager for The Collegiate Schools. “Our budget managers now have instant access to processed invoices, and they love that it’s paperless.”

“Our product is revolutionary for clients that want to move into the digital age,” concluded Chanda, noting that it leverages the latest machine learning technology. “Invoice automation is a critical component to full-scale accounts payable automation, thereby helping organizations become more efficient, secure, and profitable.”

Click here to learn more about Paymerang’s Invoice Automation Solution. 

You can view the official press release here

Procurement Partners, Paymerang Announce New Partnership

Best in Class Procure-to-Pay solution to offer award-winning electronic payables solution

Procurement Partners, the senior living and post-acute care market’s fastest growing cloud-based eProcurement and invoice automation platform, has partnered with Paymerang, an award-winning accounts payable epayment and payment fraud solution.

The partnership was finalized in June, and Paymerang’s services have become available to Procurement Partners clients beginning July 1, 2020. The initial response from the first few clients has been incredibly positive.

With a payment network spanning over 400,000 vendors nationwide, Richmond, Virginia-based Paymerang provides its clients and partners across the U.S. with a simple, secure and profitable way to automate their accounts payable disbursements.

Paymerang’s integration with Procurement Partner’s forward-thinking solutions is designed to reduce both the hours and the materials required for the typical accounts payable processes through electronic payments – saving clients time, resources and money.

“Increasingly, our clients are looking for ways to move away from time intensive paper-based systems so they can be more efficient managers.”, said CEO Rusty Zosel,

“Paymerang lets our clients transition 100% of their payables with little to no effort in 30 days or less, and the solution is fully integrated with Procurement Partners. We selected Paymerang due to their experience in payment automation, as well as their customer centric approach – similar to how we operate at Procurement Partners.”

“This partnership is a big win for the senior living and post-acute care market,” said Nasser Chanda, CEO at Paymerang. “We’re going to streamline how vendors get paid and make the whole supply chain cycle more secure. Ultimately, this will allow managers and operators to drive financial performance and provide the best possible care and quality of life for our seniors.”

The solution has been made available to all customers within Procurement Partners’ customer base, which consists of thousands of properties across the United States.

Click here to view the full press release.

Paymerang and M3 Announce New Partnership

M3, the hospitality industry’s #1 cloud-based financial and data management platform, has partnered with Paymerang, an award-winning accounts payable e-payment and payment security solution. The partnership was finalized on Dec. 4, and Paymerang’s services are expected to become available to M3 clients beginning on Jan. 1, 2020.

“The collaboration with M3 is a prime example of two well-matched company cultures coming together to provide a best in class solution for the lodging industry” said Michael Prall, VP of Lodging and Hospitality for Paymerang.

“This strategic partnership provides for the implementation of current, and future development of, software technology that will create a secure and efficient accounts payable platform for the lodging industry.”

Paymerang’s integration with M3’s forward-thinking solutions is designed to reduce both the hours and materials required for M3’s typical accounts payable processes. By utilizing electronic payments, M3’s clients will save time, resources, and money—while earning financial rewards.

“The partnership between M3 and Paymerang will further streamline our clients’ financial processes and will go the extra mile to protect their data,” said Scott Watson, M3’s Chief Sales & Marketing Officer. “As M3’s customer base grows and becomes more diverse, we will continue investing in and partnering with solutions like Paymerang to ensure our proprietary and partner-delivered solutions consistently deliver to the highest of standards.”

“This partnership is a big win for the hospitality industry,” said Nasser Chanda, CEO at Paymerang.

“We’re going to streamline how vendors get paid and make the industry more secure. Ultimately, this will allow hotel owners, managers, and operators to drive financial performance and provide fantastic guest experiences.”

The solution will be made available to all of M3’s nearly 6,000 hotel customers, more than half of which are among the top hotel management companies in the U.S. as ranked by Hotel Business.

Click here to view the press release.

Crush Payment Fraud Risk in 2019 with Paymerang and Visa

CFO Leadership Council hosted Paymerang and Visa for a national, collaborative webinar presentation.

Our panel of payments and risk managment experts was comprised of Leigh Moore, Sr. Director B2B Partnerships & Innovations at Visa, Eric Waldenmaier, VP at Paymerang, and Jeff Gainer, Director of Information Security & Risk Management at Paymerang. The presentation was attended by over 60 CFOs from across the country and was moderated by Angela Tise, CFO Leadership Council’s Northeast Regional Director.

Our panel of payments and risk management experts discussed the growing threat of payment fraud risk and how CFOs and financial teams can protect their organizations.

Payment fraud risk is a very real threat to organizations. One slip-up in processing an ACH or wire transfer could cost  millions of dollars and result in significant embarrassment for finance teams. Paymerang and Visa teamed up for an interactive session to share four ways you can build a resilient organization, ready to handle the growing threats in 2019.

Our panel of payments and risk management experts shared information about the latest scams and some practical ways to prevent them.

Learning Objectives:

o Uncover the key threats of payment fraud that you face today

o Learn about the four layers of protection available to you against payment fraud

o Identify the practical steps you can implement right away to protect your organization from payment fraud

o Discover the efficiency and security gains of implementing a comprehensive ePayable solution

 

To view the presentation click here. 

 

About CFO LC

Founded in 2006, The CFO Leadership Council began as an informal gathering of finance executives who wanted to build lasting connections with their peers in a comfortable, confidential setting.  Originally named “The CFO RoundTable,” our close community has grown significantly over time and, to date, includes 23 chapters and more than 1,300 members who actively drive the organization through their feedback and insight.

In addition, our sponsors and partners are a select group of industry leaders who help to enhance our stellar reputation.  And, keeping in mind our original goal of offering programs “for CFOs, by CFOs,” we continue to provide the best monthly in-person events, featuring expert panels and interactive sessions, as well as fresh, online content that drives meaningful conversation and leadership development amongst our membership.

 

Presented by:                       In partnership with:

         

 

 

Paymerang Announces Partnership with Community Bankers’ Bank

Paymerang announces partnership with Community Bankers’ Bank. This partnership will provide Paymerang’s best-in-class electronic payables solution to CBB’s client community banks and their commercial customers. With Paymerang, community banks will be able to automate their accounts payable disbursements, making them more efficient, secure and profitable.

“We are excited to welcome CBB’s banks to our growing list of clients,” said Paymerang CEO, Nasser Chanda. “Community banks today are facing intensifying competition from larger banks and continued regulatory demands. By outsourcing their AP processing to Paymerang, they can focus on managing their core business and taking care of their customers. By also making Paymerang available to their commercial clients, community banks can compete against larger Fintechs and national banks. It’s a double win.”

“CBB’s mission is to deliver continuous innovation and outstanding value to community bank clients through the economies of scale that we create,” said Billy Beale, President and CEO at CBB. “We are thrilled to bring Paymerang’s world-class ePayables platform to our banks. It’s a game changer in terms of the operational efficiency and incremental revenue it creates for the banks and their clients. With growing competition and heightened security risks in the community banking sector, Paymerang is a timely solution. We are already seeing strong interest.”

To read the full press release click here.