ALISO VIEJO, Calif., January 09, 2019 (GLOBE NEWSWIRE) - Transcepta today announced year end results for 2018. Transcepta continued to expand its product leadership position with AI-based improvements and machine learning enhancements to the Transcepta Network, enabling clients to achieve their goals in Accounts Payable and Procurement.
Highlights of the past year’s achievements include incredible revenue and customer growth across a number of industries within the enterprise space.
Notable competitive customer wins include:
multi-national, billion-dollar retail department store
multi-billion-dollar public utility
major California research university
multi-billion-dollar energy company
multi-billion-dollar logistics company
These organizations all chose Transcepta to connect their suppliers to the Transcepta Network and enable electronic collaboration. Transcepta procure-to-pay and e-invoicing initiatives also position each customer to capitalize on Transcepta Dynamic Discounting.
In addition to continued customer growth, Transcepta’s investment in AI and machine learning has enabled customers to enjoy the highest straight-through invoice processing rate without human intervention. Transcepta’s advanced algorithms auto-match invoices to POs (Transcepta PO CloudMatch) and auto-code non-PO invoices (Transcepta CloudCode).
2018 marks the ninth consecutive year of profitable growth for Transcepta, continuing a long track record of momentum for the company.
"Customers know their time is important. Life is too short to do things manually," says Ray Parsons, CEO of Transcepta. “Transcepta provides true electronic connectivity and leverages state-of-the-art technology so customers and their supply chains don’t have to spend time doing things that machines can do.”
With aggressive growth projections fueled by new clients, as well as further expansion of the Transcepta platform, 2019 promises to be an even greater year for Transcepta. Customers know that paper-based processes are inefficient. In 2019, smart companies will continue to move away from scanning and OCR and will ignore networks that rely on portals for electronic connectivity, setting Transcepta up for an explosive year ahead.
Transcepta is a platform that connects Procurement and Accounts Payable professionals with their suppliers, enabling everyone to achieve greater profitability. Every day, thousands of companies access the Transcepta Network to improve e-invoicing and procure-to-pay processes, drive financial value across the supply chain, and communicate dynamically. Since 2005, the world’s most respected companies have chosen Transcepta. Transcepta is headquartered in Aliso Viejo, CA. For more information, visit Transcepta.com