DocuPhase acquires Clearwater Payments

In the past year, the commercial payments space has seen a number of partnerships with workflow automation companies in order to provide clients with a smoother experience within a single portal for invoices and payments. This week, a workflow automation company has acquired a payments company and is trying to bridge the same gap and address it.

Workflow automation company, DocuPhase has announced the acquisition of Florida based payments company, Clearwater Payments. DocuPhase notes in a press release that since ‘LoneTree Capital’s acquisition in June 2020, DocuPhase has invested over three million dollars in technology and talent to strengthen their product offering to support the record demand of organizations moving rapidly to automate their business processes’.

Clearwater Payments is the second acquisition by DocuPhase this year. The company notes that with the acquisition of Clearwater and Treeno Software, it has 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,” said Dan Gaertner, CEO of DocuPhase.

Adding further, “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.”

“Clearwater Payments supports and processes millions of B2C and B2B payments for enterprise clients in banking, insurance, and utilities”, as stated in the press note.