Routable automates business payments for enterprise and mid-market clients, streamlining accounts payable and receivable processes. Their platform manages the entire payment lifecycle, including invoice processing, payment scheduling, and real-time payouts. By using Optical Character Recognition (OCR) technology, Routable significantly reduces invoice processing time by 60%, allowing businesses to optimize their payment methods. The company generates revenue through subscription fees for platform access and transaction fees for processed payments, partnering with banks to ensure secure fund transfers. Routable prioritizes security with a dedicated team monitoring their systems, which helps build trust with clients. Their goal is to foster strong relationships through empathy and exceptional support.

Lachy Groom

Aaron Levie

Marc Benioff

Max Mullen

Flexport

Sam Altman

Jack Altman

Joe Gebbia

Scott Belsky

Gokul Rajaram

Founders Co-Op

Aaron Schildkrout

Lee Fixel

BoxGroup

Jason Gardner

Immad Akhund

Sam Hodges

Liquid 2 Ventures

Y Combinator

Fintech

Financial Services

Routable

The current risk scenario calls for greater reliance on secure, end-to-end payment platforms with built-in fraud prevention measures. Real-time monitoring and account validation can mitigate fraud risks and ensure that organizations are better prepared to fend off attacks.While increasing digitization has expanded the presence of cyberthreats, manual processes and payments can be even more vulnerable to attacks. Adopting digital, automated solutions that incorporate fraud detection at every step addresses this vulnerability and helps reduce exposure to B2B payment fraud.AP departments are facing rising cyberfraud risks, with more than eight in 10 U.S. companies targeted by sophisticated digital payment fraud tactics. Integrating real-time monitoring and intelligent fraud prevention systems can address these new security challenges, underscoring the need for stronger fraud prevention measures.yesSubscribe to our daily newsletter, PYMNTS Today By completing this form, I have read and acknowledged the terms and conditions .Thank you for registering. Please confirm your email to view all our Trackers.Register for Unlimited Access Complete the form below to enjoy free, unlimited access to all our Trackers, Studies and MonitorEdge Reports.As fraud attempts on businesses continue to rise, accounts payable (AP) departments are facing increased risks from cybercriminals

Winning The Fraud Fight: How Ap Automation Can Deflect Rising Security Threats

Convera, a global leader in commercial payments, today announced its partnership with Routable, the most efficient and flexible accounts payable platform.

Convera Selected by Routable for Its Extensive Global Payments Network

We’re excited to announce that Routable has raised $12 million in Series A funding from Founders Co-op, Lee Fixel, Y Combinator, and many others.

Announcing $12M in Series A Funding | Routable | Routable

Flexport has expanded its Convoy Platform to connect brokers and carriers.With this artificial intelligence (AI)-powered marketplace, brokers can access thousands of carriers across the country, Flexport said in a Monday (June 3) press release.“With today’s launch, brokers using the Convoy Platform will be able to level up their operations and focus on strengthening core customer relationships and growing their businesses,” Bill Driegert, executive vice president and head of trucking at Flexport, said in the release.The Convoy Platform helps brokers efficiently partner with small carriers who have shifted to app-centric operations and load management, the release said.This capability solves a common pain point for brokers in a trucking market that includes about 30,000 brokers and 750,000 carriers, 90% of whom operate fewer than 10 trucks, the release said.The Convoy Platform also helps owner-operators book and manage freight to keep their trucks moving, per the release.“The U.S. trucking market has undergone a massive transformation since the pandemic,” Driegert said in the release. “Technology has empowered a new wave of small carriers who manage their business through their phone. We see a tremendous opportunity to connect that capacity to brokers, simplifying operations and lowering costs, while expanding opportunities for small carriers.”Flexport acquired the technology of Convoy, a trucking startup, in November after Convoy announced the closure of its business due to financial difficulties amid a decline in freight demand and a contraction in capital markets.With this acquisition, Flexport strengthened its position in the digital freight industry by enhancing its end-to-end logistics solutions and providing customers with a comprehensive and efficient freight management experience.In February, Flexport launched the Convoy Platform, saying it is designed to offer shippers and brokers near real-time visibility, exceptional on-time performance and competitive rates, allowing them to efficiently manage their capacity needs.PYMNTS Intelligence has found that logistics, shipping and transportation companies are investing in innovations to modernize their business and are prioritizing solutions that will improve their relationships with their vendors.For example, 83% of these companies said they plan to innovate their accounts payable (AP) systems to strengthen their B2B relationships, according to “Accounts Payable Automation: Transportation Companies Innovate to Drive Growth,” a PYMNTS Intelligence and Routable collaboration.For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter

Flexport Expands Trucking Marketplace To Connect Brokers, Carriers

Flexport has launched a technology platform that provides global shippers with access to a trucking capacity marketplace of small carriers and owner-operators. The new Convoy Platform is designed to offer shippers and brokers near real-time visibility, exceptional on-time performance and competitive rates, allowing them to efficiently manage their capacity needs, the global logistics technology firm said in a Thursday (Feb. 22) press release. By connecting small carriers with shippers, the Convoy Platform aims to strengthen the logistics ecosystem for all parties involved, according to the release

Flexport Launches Platform Connecting Global Shippers And Small Carriers

Transfix has added a new tool that allows shippers to complete the request for proposal (RFP) and freight procurement process in one place. The new RFP Manager facilitates every step from sourcing to settlement and streamlines a process that is often manual and time consuming, Transfix said in a Tuesday (Nov. 14) press release. “The RFP process has long been outdated and in need of an innovative overhaul,” Transfix Co-Founder and CEO Jonathan Salama said in the release. “I’m incredibly excited to bring a product to market that empowers both shippers and their suppliers and sets a new bar for freight procurement solutions.”

Transfix Launches Tool To Consolidate Rfp And Freight Procurement Process

LogiNext has launched a payment module that helps enterprises select carriers and manage payments. The new module facilitates better decisions in choosing carrier partners by comparing the charges of different carriers and drivers via rate charts that are enabled by artificial intelligence (AI) and automation, the logistics automation firm said in a Thursday (Aug. 3) press release. The module considers product specification, delivery distance, discounts and other factors essential to selecting a carrier, according to the release

Loginext Launches Payment Module That Helps Enterprises Select Carriers

When it comes to gig economy companies, a little accounts payable (AP) automation can go a long way.For PYMNTS’ study “Accounts Payable Automation: Why Gig Economy Companies See Payables Innovation as Key to Success,” created in collaboration with Routable, we surveyed more than 200 executives from small, mid-sized and large firms across four industries — the gig economy, virtual events management, online marketplaces and transportation. The study revealed that, among companies in the former category, those that do not prioritize AP automation deal with slow payments and inefficient onboarding processes.Two-thirds of gig economy companies that see AP automation as only slightly or somewhat important ranked slow payment options as a top five AP challenge they face. Half that share said the same among those that see it as very or extremely important.Similarly, 60% of those that only view AP automation as moderately important ranked inefficient vendor onboarding processes as one of their key challenges, while only 40% of those that see it as highly important said the same.In contrast, firms that are prioritizing the automation of their AP systems are dealing with other challenges. Seventy-eight percent of gig economy companies that perceive AP automation as very or extremely important reported that insufficient or inefficient communication with vendors or service providers was a top challenge for them. Conversely, 22% of those that see it as only slightly or somewhat important listed this as a top concern.Moreover, 71% of those gig economy companies that see it as very or extremely important cited insufficient payment options as a top-of-mind concern, while this issue made the list for only 29% of the gig economy companies that see AP automation as only moderately important. As such, it seems that automating AP may free gig economy companies up to focus on more challenging issues, rather than getting tied up with solvable problems

Two-Thirds Of Gig Companies That Don’T Prioritize Ap Automation Struggle With Slow Payments

Boost Payment Solutions and OneSource Virtual (OSV) have partnered to fully automate invoice payments for Workday customers. This collaboration brings together OneSource Virtual’s new Invoice Pay product and the Boost Intercept straight-through processing solution, the companies said in a Tuesday (June 20) press release. “Together, we are creating a fully passive acceptance experience, reducing friction and strengthening customer-supplier relationships,” Boost Payment Solutions Chief Revenue Officer Seth Goodman said in the release. “This partnership aligns perfectly with our mission to simplify B2B payments and enhance payment experiences across all industries.”

Boost Payment Solutions And Onesource Virtual Partner On Automated Ap

Many logistics, shipping and transportation companies live and die by their relationships. That’s probably why PYMNTS data in the report “Accounts Payable Automation: Transportation Companies Innovate To Drive Growth,” done in collaboration with Routable, finds that when investing in innovations to modernize their business, members of the industrial economy tend to prioritize the solutions that will result in an improvement in their relationships with their vendors. More than 8 in 10 logistics, shipping and transportation companies (83%) say they plan to innovate their accounts payable (AP) systems to strengthen their B2B relationships — and more than 3 in 4 (78%) indicate that faster payment speed will help them to do so.Payment transparency and the ability to pay vendors and partners in their local currencies are some additional benefits that over half of these firms hope to realize through AP modernization — all key value-adds to a B2B partnership

Relationship-Building Innovations Top Investment Wish List For Logistics Sector

Automates business payments and invoicing

Routable

Automates business payments and invoicing

Routable

Automates business payments and invoicing

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