Skyscend Capital, a subsidiary of SaaS blockchain accounts payable invoice automation and supply chain financing company Scyscend Inc, is to partner with Encore Funding to expand the functionality of its technology solutions.
Skyscend will use Encore’s funds and resources to enhance the supply chain financing features offered by its Skyscend Pay platform, notably allowing immediate payment of approved invoices. This functionality builds on Skyscend’s current AI, ML, and OCR-based features designed to facilitate timely and accurate payment.
Bob Zadek, President of Skyscend Capital, lauded the additional functionality the partnership would bring to a platform that “empowers customers and suppliers with a self-service tool that grants control over payment processes.”
"With the support of Encore Funding, Skyscend Capital now possesses the necessary funding to provide on-demand payment of approved invoices to its customers and their suppliers" he said.
Chad Eberly, General Manager of Encore Funding, said that they were drawn to the partnership by Skyscend’s use of blockchain. He explained "We were impressed by Skyscend Pay's utilisation of blockchain technology, which enables seamless real-time access to approved invoices within the customer's accounting system.
"Encore is fully prepared to provide unwavering support to Skyscend Capital's expanding base of business, and allow for another Encore client to take advantage of the capital we provide to entrepreneurs."
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