June 4, 2021, Brookfield, Wis.—.
$2.7 trillion dollars of errors, exceptions, and losses are incurred every year in the B2B sector, according to Credit Suisse and FIS.
GenAlpha and Photon Commerce are addressing the inefficiencies in the B2B space by streamlining and modernizing the B2B purchase experience for equipment manufacturers, distributors, dealers, and suppliers. Much of the inefficiencies stem from business processes systems that are not yet digital, such as paper and PDF catalogs, quotes, purchase orders, invoices, and checks.
GenAlpha Technologies has entered into a strategic partnership with Photon Commerce, a leader in automating B2B payments and invoicing. Photon Commerce has created an AI platform that can generate a deep understanding of data to create more accurate predictions and analytical insights.
With GenAlpha and Photon Commerce’s digitization solution, businesses can turn paper and PDF catalogs, purchase orders, invoices, and receipts into live, interactive web and mobile experiences. This increases the speed of customer orders, boosts customer engagement, and modernizes the customer experience.
“Photon Commerce is on the cutting edge of their industry and the ways in which they utilize AI in their platform is unlike any other financial software. Partnering with them was an easy decision due to a common vision of helping our clients find actionable insights to drive revenue and growth,” said Kris Harrington, President and COO of GenAlpha. “We are always looking to add more value to our customers and this was another way to do that.”
“Partnering with an experienced eCommerce solutions provider will help us to learn more about a rapidly growing industry and help to provide an even better experience for our customers. Sharing a data-driven mindset with GenAlpha is what makes this such a good fit. We can’t wait to combine our experience with each other,” commented Michael Young, Founder & CEO of Photon Commerce.
“Generating actionable insights is our core expertise and now with GenAlpha’s help we can take that to the next level, ” said Angela Murphy, Ph.D., Director of Business Development and Marketing.
GenAlpha Technologies was originally founded to simplify the parts ordering process for large complex manufacturing organizations. From that need came Equip, a fully integrated parts, and equipment eCommerce, eCatalog, and customer portal solution specifically for manufacturers, distributors, and dealers looking to digitize their sales efforts. Today 40+ manufacturing brands utilize Equip to manage their aftermarket equipment business online. Visit the GenAlpha website at genalpha.com for more details on the company and its offerings.
About Photon Commerce
Photon Commerce is a leading AI platform accelerating fintech and commerce. Its artificial intelligence automatically standardizes and reconciles purchase orders, invoices, receipts, checks, payments, catalogs, and SKUs in seconds even if they are documents from around the world. Partnered with Stripe, First Data, and Nvidia, Photon provides over 120 businesses with actionable financial intelligence to drive efficiency and growth. Drop Photon Commerce a note at firstname.lastname@example.org.