TermSync’s collaborative platform reinforces Esker’s Accounts Receivable solution for U.S. customers and paves the road for future Esker solutions.
Sydney, Australia — January 29, 2015 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announces the acquisition of TermSync™, a cloud-based accounts receivable (AR) platform.
Based in Madison, Wisconsin, which is also home to Esker’s U.S. headquarters, TermSync develops and markets an innovative, collaborative portal enabling businesses to modernise their AR processes. Fully developed on cloud-based technology, TermSync optimises invoice management by reducing costs, accelerating payments and reducing DSO (Days Sales Outstanding). Today, TermSync connects thousands of companies on its network, including the U.S. National Association of Credit Management (NACM), which has selected the solution as a preferred partner.
Following the success of an intense development and market validation phase, but with limited resources, TermSync was looking for a strategic partner to support its commercial development throughout the U.S. At the same time, Esker sought to strengthen the capabilities of its existing AR solution in order to meet the expanding needs of U.S. companies. Combined, Esker’s Sales and Marketing capabilities and TermSync’s platform will generate growth for their respective offerings.
Beyond the operational aspect, Esker will build on TermSync’s experience and technologies to enhance the collaborative aspect of all its solutions.