ALISO VIEJO, CA--(Marketwired - January 11, 2016) - Transcepta today announced year end results for the quarter and fiscal year ended December 31, 2015. Highlights of the past year's achievements include:
- Revenue growth of 25%, year over year
- Profitable for the sixth consecutive year
- Additions of new modules to eliminate exceptions and achieve straight-through processing
- Increased participation of suppliers in the Transcepta Network by 55%
- Processed 55% more documents, year over year
- Added customers across multiple industries and ERP platforms including Oracle ERP Cloud
The increase in revenue came from new clients and new modules that help streamline the payables process. One of these new modules is PO CloudMatch™, which pre-matches invoices to enable touchless, three-way matching in the ERP. As with all of Transcepta's offerings, the validations can be incorporated regardless of ERP or supplier sophistication. This winning combination has attracted new customers who are looking to realize the benefits of straight-through processing.
FleetPride VP and Chief Accounting Officer Angela Boyd summarized why they chose Transcepta, "A key part in our decision to choose Transcepta was their PO CloudMatch feature. We needed to eliminate paper but we also we're very excited to move to a touchless process." Hear more about Angela's success stories with FleetPride and two other companies at www.transcepta.com/case-studies.
Transcepta also significantly grew the total number of suppliers in the Transcepta Network by 55%, year over year. This has a great benefit for both existing and new clients because their AP departments need not manually search for supplier contact information, such as phone or email address. Transcepta will simply reach out to any previously connected supplier based on company name and location alone.
Oracle has always been a pivotal partner, and 2015 was no exception. Transcepta again presented at Oracle OpenWorld and continues to grow its footprint within the Oracle ecosystem.
With aggressive growth projections fueled by new clients, as well as further expansion of the Transcepta Supplier Network, 2016 promises to be an even greater year for Transcepta. Improvements in software and services, in addition to fine tuning of financial tools to enable dynamic discounting or supply chain financing, will all help clients achieve their goals in Accounts Payable and Procurement.
About Transcepta
Transcepta was founded in 2005 with the goal of making electronic invoicing (e-invoicing) for true accounts payable automation a reality, eliminating all paper invoices. Our belief is that the critical success factor for e-invoicing is supplier participation.
Transcepta is differentiated from other offerings by providing an attractive solution to suppliers and a managed service to recruit and implement the supplier network. Transcepta is the only e-invoicing solution that removes the long standing barriers, cost, time, and complexity, to supplier enablement. Transcepta also offers solutions that enhance supplier relationships and benefit procurement and finance departments through supply chain finance and dynamic discounting.
While offering robust functionality and flexible integration to your Accounts Payable department, Transcepta enables suppliers to submit invoices with their existing accounting or ERP system and process. Suppliers do not pay setup or any other upfront fees and implementation takes only minutes of a supplier's time. IT support is not required for supplier onboarding or implementation and invoice submission is automated (i.e. not manually typing invoices into a web portal).
Transcepta is located in Aliso Viejo, California. For more information, visit www.transcepta.com/e-invoicing
© 2016 Transcepta LLC. All rights reserved.
Contact Information:
Herb Radmanesh