ancora and Unimarket combine technologies to reduce manual processing, improve accuracy, and accelerate procure-to-pay workflows.
ancora Software, Inc., a leading provider of Intelligent Document Processing (IDP) and Accounts Payable automation solutions, today announced a new strategic partnership with Unimarket, a global, award-winning provider of Source-to-Pay SaaS solutions.
Unimarket has built a strong reputation for delivering modern procurement solutions to organizations around the world.”
— Noel Flynn, CEO at ancora Software, Inc
Through this partnership, Unimarket will offer ancora’s advanced AI-driven invoice automation technology as part of its procurement ecosystem, helping organizations further streamline their procure-to-pay operations. Unimarket’s procurement platform is widely used by organizations across higher education, healthcare, government, research institutions, and enterprise organizations, and serves customers across key geographic markets including North America, Canada, Australia, and New Zealand. The platform enables finance and procurement teams to digitize purchasing processes, improve supplier collaboration, and gain greater visibility and control over organizational spending.
Unimarket is backed by Accel-KKR, a leading technology-focused private equity firm that invests in high-growth software and technology-enabled businesses worldwide. Accel-KKR’s investment supports Unimarket’s continued global expansion and product innovation within the procurement and spend management market.
Also Read: CIO Influence Interview with Gihan Munasinghe, CTO of One Identity
As part of the collaboration, Unimarket will offer and support ancora’s Intelligent Document Processing platform alongside ancoraFlow™, ancora’s end-to-end Accounts Payable automation and workflow solution. The integration will enable organizations to automatically capture, classify, and extract invoice data, route invoices through automated approval workflows, and seamlessly deliver validated financial data into downstream procurement and ERP systems.
Together, the combined solution will provide customers with a powerful procure-to-pay automation platform that significantly reduces manual processing, improves invoice accuracy, accelerates approvals, and delivers greater financial visibility and control.
“Unimarket has built a strong reputation for delivering modern procurement solutions to organizations around the world,” said Noel Flynn, CEO of ancora Software, Inc. “By partnering with Unimarket, we can extend the reach of our advanced document automation and AP workflow technology to a broader global audience. We are especially excited that Unimarket will also offer ancoraFlow, allowing customers to benefit from a fully integrated end-to-end AP automation solution.”
“Organizations today are looking for ways to eliminate manual invoice processing and improve efficiency across their finance operations,” said Phillip Kenney, CEO at Unimarket. “Our partnership with ancora Software further establishes Unimarket’s ethos to provide our customers clarity, control and impact on their procurement and spend management. It enables us to provide our partners with powerful AI-driven invoice capture and AP workflow automation that complements the Unimarket procurement platform. The time and costs associated with manual invoice processing will be greatly reduced, driving real value for our customers.”
ancora’s platform leverages patented machine learning technology to automatically capture header and line-item data from invoices without templates or pre-training, allowing organizations to achieve high levels of automation while reducing implementation time. When combined with ancoraFlow, customers gain a comprehensive solution that supports invoice routing, approvals, exception handling, GL coding, matching, fraud detection, and full audit tracking.
The joint solution is designed to help finance teams reduce manual effort, accelerate invoice processing cycles, and improve overall operational efficiency while maintaining strong governance and compliance.
Catch more CIO Insights: CIO as Orchestrator of Cross-Functional Digital Strategy
[To share your insights with us, please write to psen@itechseries.com ]
