In this time of economic uncertainty, it’s never been more important for companies to get paid faster, and TermSync’s built a solid, scalable platform that, through automation, delivers real improvements in cash flow and operational efficiency.
Madison, WI (PRWEB) October 12, 2011
TermSync, Inc., the accounts receivable automation platform that ensures businesses get paid faster, today announced it has completed a $630,000 round of funding. The funding comes from a group of private investors, including TermSync board members Brian Wiegand and Mark Burish. The company will tap the new funding to fuel growth and invest in additional sales, marketing and engineering resources.
The TermSync platform monitors a company’s receivables, sends payment reminders and automatically draws funds from the company’s customer via ACH if payment has not been received by a previously agreed upon date. Customers retain complete control and are allowed to delay or dispute a payment if needed simply by entering a reason.
TermSync currently manages over 2,000 payment term relationships with clients and their customers, with over 99% paid on or before the due date. Recent client acquisitions include Palmer Johnson Power Systems, DiscountOfficeItems.com and Oakbrook Corporation.
“We are extremely satisfied with the early success TermSync has achieved in the financial community, from both our clients and our clients’ customers,” said Mark Wilson, chief executive officer of TermSync. “The key to our growth has been our mandate to improve collections while enhancing client relations at the same time. We do this by giving our clients much needed visibility into when they’ll get paid coupled with faster payments because our approach is accepted, and even appreciated, by customers of our clients.”
“We are excited about Mark’s vision and impressed with the early traction of TermSync,” said Brian Wiegand. “In this time of economic uncertainty, it’s never been more important for companies to get paid faster, and TermSync’s built a solid, scalable platform that not only improves visibility but also, through automation, delivers real improvements in cash flow and operational efficiency for their clients.”
TermSync, Inc. is an accounts receivable automation platform that ensures businesses get paid faster and receive more visibility from customers without having to make a collection call. Founder Mark Wilson, CPA, experienced firsthand the pains companies go through to get cash in the door while he served in various accounting leadership positions. In creating TermSync, Wilson set out to revolutionize the outdated payment terms process in a manner that is accepted by both businesses and their customers. TermSync is privately held and headquartered Madison, Wisconsin.