Symbeo launches RapidInvoice for B2B e-commerce in Amazon Business’ marketplace App Center, providing a solution that enhances AP capabilities and supports financial operations to reduce costs and improve productivity.
PORTLAND, Ore., July 09, 2024 (GLOBE NEWSWIRE) — Symbeo, Inc., a subsidiary of CorVel, has partnered with Amazon Business App Center to offer RapidInvoice, an AI-enabled optical character recognition (OCR) product. The partnership marks a major step into the mid-market and small business market as more businesses turn to e-commerce platforms such as Amazon’s B2B Marketplace. The move allows customers to leverage wholesale pricing for goods and services, with the added benefit of integrated payment reconciliation into financial systems, potentially improving efficiency and cost-effectiveness.
Symbeo RapidInvoice is an accounts payable (AP) automation solution for Amazon Business customers that provides receiving, tracking, document segregation and classification, and AI-enabled OCR to improve financial reporting and reconciliation. Customers can easily set up within 5 business days to eliminate waste, increase purchasing power visibility, and proactively manage cash flow for current and future financial needs.
“Symbeo continues to transform the future of payments. This partnership gives our joint customers access to cutting-edge AP automation technology with the convenience of Amazon Business. This collaboration with Amazon Business reflects our commitment to making AP automation successful through innovative technology and strategic partnerships. By simplifying the procurement process and providing one-stop shopping convenience, this partnership enables businesses of all sizes to increase efficiency and maximize ROI.” – Tomika Russell, President of Symbeo
For nearly 30 years, customers have trusted Symbeo for AP automation success. Our proven track record of leveraging cutting-edge technology, streamlined processes, and customer engagement has helped us drive sustainable growth and achieve purpose beyond payments. This trust is the foundation of our partnership with Amazon Business and is the driving force behind the launch of RapidInvoice on their platform.
About Symbeo
Symbeo helps any business increase the efficiency of business-to-business accounts payable (AP) transactions between payers and payees with true AP automation. As an industry leader for over 25 years, we leverage emerging technologies such as artificial intelligence, machine learning and intelligent OCR solutions to optimize the P2P ecosystem from invoice receipt to payment, eliminating the burden of manual invoice processing. Leveraging the power of automation, we create a paperless environment that helps our customers achieve their sustainability goals and go beyond accounts payable. To learn more, visit symbeo.com or call 888.722.6663.
About CorVel
CorVel Corp. applies technologies including artificial intelligence, machine learning and natural language processing to improve management of episodes of care and associated medical costs. We partner with employers, third-party administrators, insurers and government agencies to manage workers’ compensation, health, auto and liability services. Our diverse suite of solutions combines integrated technology with a human touch. CorVel’s customized services are delivered locally and backed by a national team supporting our partners and their customers and patients.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements contained in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about the Company, the beliefs of management, certain assumptions made by the Company, and events beyond our control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements regarding our managed care services, our continued investments in these and other innovative technologies, and our workers’ compensation services offerings. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that may cause our actual results to differ materially and adversely from those expressed in the forward-looking statements, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition will be greater than our initial assessment.
The risks and uncertainties referred to above include, but are not limited to, the factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2024, and the “Risk Factors” in the Company’s Quarterly Reports on Form 10-Q for the quarters ended June 30, 2023, September 30, 2023, and December 31, 2023. The forward-looking statements in this press release speak only as of the date hereof. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason.
Contact: Melissa Strang
Phone: 949-851-1473
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