Business Process Automation company DocuPhase acquires Clearwater Payments
By Pavithra R
DocuPhase, transforming business processes with document management software and workflow automation has announced the acquisition of Clearwater Payments, a cloud-based electronic billing and payment solution provider.
Since theLoneTree Capital’s acquisition in 2020, DocuPhase has invested over $3 mn in technology and talent to bolster its product offering to support the record demand of organizations moving rapidly to automate their business processes. The acquisition of Clearwater Payments marks the second acquisition by DocuPhase in 2021. Earlier this month the firm acquired Treeno Software. The acquisitions enables DocuPhase to become one of the few industry players to offer end-to-end payments within the A/R and AP automation marketplace.
“It is our mission to create an end-to-end accounting automation solution for our customers from the point of receiving an invoice, to intelligent scanning, data entry, and storage in their ERP system followed by completing the process with approval workflows resulting in fully automated electronic payments. The acquisition of Clearwater Payments gives us that final piece to complete the mission of providing a fully automated AP and A/R solution for our customers,” said Dan Gaertner, CEO of DocuPhase.
Clearwater Payments is a cloud-based electronic billing and payment solution provider that uses the latest open-API technology stack and rules-based payments engine to deliver custom EBPP tools and services that keep customers’ bill payment options relevant in today’s real-time, mobile world. The firm supports and processes millions of B2C and B2B payments for enterprise clients in banking, insurance, and utilities.
“We are extremely excited about our partnership with DocuPhase and LoneTree. When we founded Clearwater, our primary objective was to provide our clients with best-of-class electronic bill payment products and services. This partnership allows us to not only continue that objective, but also enhances and improves our client experience with the addition of DocuPhase’s process automation and document management platform. This creates a payments hub, managing both receivables and payables. That is a powerful offering for our clients,” said CEO of Clearwater Payments, David Kesler.
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