20 Jun 2011 Taulia Acquires BillFLO
Taulia, Inc., the leading cloud-based dynamic discounting solution provider for SAP®, today announced that it has acquired billFLO. billFLO helps small businesses monitor cash flow and identify liquidity gaps by automating the accounts payable, accounts receivable and expense reporting processes. The combined company turns the conflicting cash flow needs of large buying organizations and their smaller suppliers into a win-win with its cloud-based financial supply chain solution.
“Taulia is committed to repairing the broken financial supply chain between large companies and their suppliers, and our acquisition of billFLO will accelerate that process to all of our customers,” said Bertram Meyer, CEO of Taulia. “Our dynamic discounting solution gives Fortune 500 companies the opportunity to save millions of dollars by paying invoices early in exchange for discounts. Conversely, billFLO customers have the ability to identify pending cash flow needs and replace expensive solutions such as borrowing and factoring with our dynamic discounting.”
“The synergies between billFLO and Taulia make this acquisition a natural fit,” said Ian Sweeney, CEO of billFLO. “Taulia’s striking success with large enterprises can now be extended to billFLO’s customers in a way that is easy for them to implement. The combined company has the right mix of financial supply chain solutions for Fortune 500 companies and even their smallest suppliers.”
Taulia’s software solutions provide finance departments with dynamic discounting and automated supplier services that maximize productivity and create significant cost savings. The full-fledged supplier software-as-a-service portal is free to suppliers, and gives buyers and suppliers a portal for online collaboration. Suppliers have real-time visibility into invoice status and payment details, and can take advantage of on-demand payment options, eliminating costly receivable financing and factoring. On the buyer side, the Taulia Dynamic Discount Optimizer helps large organizations save millions of dollars annually by allowing suppliers to offer discounts for on-demand payments.
Combining a simple user interface with sophisticated automation technology, billFLO helps small businesses eradicate time-consuming processes needed to both satisfy accounting requirements and get an insight into the cash standing of the business. billFLO automates the gathering of income and expense data, which eliminates paper usage, saves time, reduces manual entry errors, and provides realistic payment date estimates.
“This transaction will position Taulia for further growth and leadership in the financial supply chain market,” said Josh Hannah, general partner at Matrix Ventures. “billFLO perfectly complements Taulia’s vision to end wasteful processes in the financial supply chain. Customers will benefit from the combined company’s increased knowledge, scale and ability to address market needs.”
The acquisition is effective immediately, and the organization will operate under the Taulia brand name. Ian Sweeney will join the Taulia management team in a solution strategy role.