FinTech ENGAGE, which streamlines industrial workflows, has launched ENGAGE E2E (end-to-end) to help digitize the end-to-end financial transaction process, according to a press release.
The new technology will merge eInvoicing with ENGAGE’s eTicketing program. That will allow companies to merge software, get rid of redundant processes, automate workflows and more, the release stated.
The platform was developed through a partnership between ENGAGE and EP Energy, which has worked to do away with the industry’s old-style workflows, according to the release. The partnership will use ENGAGE’s eTicketing software to validate transactions. The two companies also worked on developing an eInvoicing software.
The platform works to boost new automated business rules, which will be applied almost instantaneously, the release stated, intended for transacting with services providers and getting rid of touchpoints that are no longer relevant, smoothing out disputes and error rates, and getting the best use out of EP Energy’s resource base.
ENGAGE CEO Rob Ratchinsky said in the release that the company is “hyper-focused on driving operational efficiency with respect to field level workflows.” He added that E2E represents a way for the company to get rid of steps in its processes.
“Our move to add invoicing capabilities is needed to eliminate this redundant step long term because to truly change the transaction process, you have to inherently control it end-to-end,” he said in the release. “ENGAGE clients will truly benefit from building touchless business automation on their own terms, by leveraging data, rather than just collecting it.”
In related news, PYMNTS reported in January that many B2B payments pain points were revealed in 2020, particularly when moving money across borders. To ease friction, companies have been working on new modernization technologies.
“We tend to talk about payments as some independent component,” said Wells Fargo Head of Global Product Management Judd Holroyde. “But it’s an end-to-end workflow.”