Demica and API Software sign new partnership agreement

London - 20 July 2009

Demica, marketing leading provider of working capital solutions, and API Software, authors of the acclaimed automated reconciliation software AutoRek, have established a joint partnership agreement enabling both companies to share product propositions across their respective customer and prospect audiences. The agreement responds to a growing demand for integrated trade services.

This commercial alliance reflects the convergence between solutions that improve the financial relationships of trading partners - through invoice management and financing - and those that automate transaction management and verification so that expert manual attention is focused only on handling complex ‘exceptions’ or problem transactions.

Demica, whose technology and services support and manage all forms of invoice-based finance, has built a network of key partner organisations occupying adjacent and related spaces around its core markets of corporates, their banking partners, supply chain finance specialists and factoring companies. API Software similarly has a network of partner organisations.

Phillip Kerle, Chief Executive Officer of Demica, comments, “Whilst both Demica and API Software have extremely strong stand-alone propositions, we are collectively stronger and more compelling for corporates and their banks when we join up closely related financial processes and procedures. AutoRek and Demica are both closely involved with accounts receivable and payable, the one automating essential reconciliation processes, the other providing the means to use invoice debt as security for financing arrangements. The association between the two companies looks to be a logical and exciting one.”

Gordon McHarg, Managing Director of API Software, adds “AutoRek is the reconciliation solution of choice of many of the leading financial institutions. This partnership with Demica allows our customers, and Demica’s to benefit from a ‘best of breed’ solution with a powerful ROI and risk reduction proposition.”

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