There is no end to what human beings can do, and yet there is little we do better than pursuing growth on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.
Skyscend Capital has officially partnered with Encore Funding to jointly offer a brand-new payment solution called Skyscend Pay, which will be a software-as-a-service (SaaS) platform bearing responsibility of integrating with enterprise resource planning (ERP) systems and automating the entire invoicing process. According to certain reports, Skyscend Pay is conceived to help suppliers generate invoices through P.O. Flip and then submit the same using mediums like web form or email. Interestingly enough, the solution can also leverage technologies such as AI, ML, and OCR to effectively read, capture, and extract data from non-PO invoices. Furthermore, there is a dedicated facility for every user to post approved invoices on the self-service portal. This facility, in particular, can prove extremely crucial when it comes down to requesting immediate payments through a Get Paid link. Complimenting the stated function are all the relevant invoice details like the discount fee for early or immediate payment, and the net amount due after deducting the discount fee. Once the supplier is satisfied with the accuracy of such information, they can move on to choosing their preferred transaction mode, and accepting the fee for that selected invoice.
“The software empowers customers and suppliers with a self-service tool that grants control over payment processes. With the support of Encore Funding, Skyscend Capital now possesses the necessary funding to provide on-demand payment of approved invoices to its customers and their suppliers,” said Bob Zadek, President of Skyscend Capital.
Based in Atlanta Georgia, Skyscend Capital’s rise talks mainly to its knowhow in providing a bleeding-edge brand of supply chain financing, alongside other services that hail from a similar stratosphere. While the company has, so far, focused on sectors like construction and agriculture, it is now notably looking to enter more industries and achieve a wider overall presence.
“We were impressed by Skyscend Pay’s utilization of blockchain technology, which enables seamless real-time access to approved invoices within the customer’s accounting system,” said Chad Eberly, General Manager of Encore Funding. “Encore is fully prepared to provide unwavering support to Skyscend Capital’s expanding base of business, and allow for another Encore client to take advantage of the capital we provide to entrepreneurs.”
As for Encore Funding, founded in 2020, the company has climbed up the ranks by conceiving solutions related to working capital, consulting, and technology. Encore’s target customer, at the minute, includes staffing agencies and transportation companies, but like Skyscend, it is also hopeful about establishing a bigger footprint sooner rather than later.
Copyrights © 2024. All Right Reserved. The Money Outlook.
