Business Payments Company FLEETCOR Acquires AP Software Firm Accrualify

FLEETCOR, a global business payments company, announced Wednesday (Aug. 3) that it has acquired accounts payable (AP) automation software company Accrualify.

This will help FLEETCOR’s portfolio of payments solutions and add to its corporate payments platform capabilities, according to the press release.

Accrualify works on automating procure-to-pay processes for companies, and the cloud-based software gives midmarket companies end-to-end procurement, invoice process automation and payments execution.

“The Accrualify acquisition provides workflow and process automation software that AP departments are looking for, and rounds out our ‘process to execution’ AP payment solution set,” said Ron Clarke, FLEETCOR chairman and CEO. “We expect this capability to increase demand and revenue per client for our corporate payments product line.”

FLEETCOR has made other acquisitions as of late, having bought airline software company Levarti in March. Levarti’s solutions help with automating passenger notifications, flight rebookings, hotel accommodations, transfers and vouchers.

See also: FLEETCOR Acquires Airline Software Company Levarti

Levarti debuted its MAX software suite in 2014, with several airlines using that to digitize operations and communications. Its MAX app provides “end-to-end” digital experiences around check-in, in-flight services and baggage claim.

“This acquisition gives us a complementary solution to further automate and streamline passenger disruption events for our airline clients. We expect our combined offering will be of great interest to airlines, and lead to accelerated sales in our lodging airline segment,” Clarke said at the time.

In addition, in June, FLEETCOR signed an agreement to purchase U.K. cross-border pay provider Global Reach Group.

Read more: FLEETCOR Buys UK’s Cross Border Payments Provider Global Reach Group

The acquisition was designed to give FLEETCOR more artillery for its cross-border payments ability, as Global Reach’s services help with facilitating international payments.

Clarke said this would be a boon for its existing cross-border business, and said there were likely to be more synergies in this department to layer in at a later date. The Global Reach acquisition is expected to close before the end of the year.

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