AccountsIQ, a Financial Management Software (FMS) for mid-market SMEs with multiple subsidiaries, branches and locations, has announced a partnership with the AP software platform, Lightyear.
The deal is intended to combine the companies’ resources, in turn producing a complete business automation and management solution.
Customers at AccountsIQ will reportedly see streamlined processes through Lightyear’s accounts payable automation, therefore cutting out time-consuming tasks.
Chris Gregg, CEO at Lightyear, said: “We’re really excited about this partnership as we’ve great synergy with AccountsIQ.
“Both products have been designed for medium-sized businesses giving them the tools they need to automate processes across multiple sites and group structures.”
Founded in 2008, AccountsIQ recently raised £5m from UK and Netherlands-based venture capital firm, Finch Capital, as the group looks to expand its growth plans.
By using Lightyear’s “highly customisable multi-tiered approvals workflow,” members at AccountsIQ will now supposedly be able to approve bills from anywhere.
Darren Cran, COO at AccountsIQ, said that the Lightyear partnership will mostly benefit the group’s “larger customers” who process large volumes of invoices.
He added that forming a “mutually beneficial partnership” was the “natural next step” for the two firms.