Intellinetics Expanding Payables Automation Solutions Practice
Portfolio Pulse from Benzinga Newsdesk
Intellinetics, Inc. (INLX) has announced two recent sales of its IntelliCloud™ Payables Automation System, representing a combined $150,000 in annual SaaS revenue. This reflects the company's growing Payables Automation Solutions practice and provides an upward lift to its annual recurring revenue. The system uses AI and machine learning technologies to streamline general ledger coding, workflows and approvals, data entry, and invoice filing.
November 01, 2023 | 9:45 pm
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Intellinetics' recent sales of its IntelliCloud Payables Automation System represent a boost to its annual SaaS revenue and reflect the growth of its Payables Automation Solutions practice. The system's AI and ML capabilities offer cost and efficiency benefits to clients.
The recent sales of Intellinetics' IntelliCloud Payables Automation System represent a direct increase in the company's annual SaaS revenue. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the company's stock price. The system's AI and ML capabilities, which offer cost and efficiency benefits to clients, further enhance the company's competitive position in the market.
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