Open ECX & Medius partner to enhance AP automation solutions

Open ECX, a provider of e-trading solutions and Accounts Payable (AP) automation software has officially announced its partnership with Medius, aiming to offer an enhanced suite of advanced AP automation solutions. Following the company's recent launch into the channel market, this new partnership signifies Open ECX's ongoing commitment to providing integrated business solutions that boost operational efficiency and streamline AP processes.

As part of their collaboration, Open ECX's statement reconciliation functionality will provide complete automation for firms desiring to substantially improve their Accounts Payable automation and conformity. A key feature from Medius will be its AP automation and fraud detection tools, which are designed to help organisations automate repeated and error-prone manual processes.

Matt Rhodus, VP of Business Development & Strategic Initiatives at Medius, expressed his views on the alliance: "The partnership with Open ECX fills a void in our product offering with a statement matching and reconciliation solution that integrates with Medius' AP automation platform. The expertise that the Open ECX team has in industries like construction means that customers get even more operational efficiencies in their financial operations."

Open ECX, emerging as a forerunner in the P2P (peer-to-peer) space, supplies an array of products intended to simplify AP processes via seamless integration, automation and innovative technologies. These products are compatible with most finance systems used across a wide range of industries and use cases.

Responding to the new partnership, Charles Robinson, CCO of Open ECX, said, "At a time when businesses are demanding much more from their finance automation solutions, we're delighted to be partnering with Medius. Our evolving suite of products have been designed to help finance leaders automate all transactions while integrating seamlessly into their existing systems and processes. When combined with the power of Medius' solutions, the partnership will add substantial value to customers who are looking to reap the benefits of holistic, automated AP systems."

Open ECX has rapidly grown since its foundation in 2012, and its agnostic technology streamlines business processes. It facilitates complete automation and AP efficiencies for its customers, resulting in significant time and cost savings. Some of the leading brands that trust Open ECX's innovative solutions include Grundfos, Wolseley and NG Bailey.

Medius is changing the way businesses manage AP by linking invoice capture, processing, and payment, replacing the concern of managing AP with assurance. It employs artificial intelligence to carry out most of the work, so invoices get confirmed, coded and paid. Currently, more than 4,000 customers across 102 countries trust Medius to process $200 billion in annual spending through its system.