Intellinetics Expands Payables Automation Solutions Practice into K-12 Market Following Successful Pilot Program

Rhea-AI Summary

Intellinetics, Inc. (NYSE American: INLX) has announced the expansion of its IntelliCloud Payable Automation Solution (IPAS) into the K-12 market, partnering with Software Unlimited, Inc. (SUI). This expansion follows a successful pilot program with Clear Creek Amana Community School District (CCACSD). IPAS for K-12 streamlines AP processes by eliminating paper-based tasks and automating invoice handling.

The solution integrates with IntelliCloud™, Intellinetics' electronic document management platform, branded as K12Docs for SUI customers. James F. DeSocio, President & CEO of Intellinetics, expressed confidence in the K-12 sector as a key market for generating significant IPAS SaaS revenue growth. The partnership with SUI creates a large addressable market for IPAS, complementing Intellinetics' direct K-12 customer base.

Positive

• Expansion of IPAS into the K-12 market, potentially increasing revenue
• Strategic partnership with Software Unlimited, Inc., a major K-12 software provider
• Successful completion of pilot program with Clear Creek Amana Community School District
• Integration of IPAS with IntelliCloud platform, enhancing product offering
• Automation of AP processes, potentially improving efficiency for K-12 clients

Negative

• None.

Insights

Financial Analyst

The expansion of Intellinetics' IntelliCloud Payable Automation Solution (IPAS) into the K-12 market represents a significant growth opportunity for the company. This move, in partnership with Software Unlimited, Inc. (SUI), taps into a large addressable market and has the potential to generate substantial SaaS revenue growth.

Key points to consider:

• The successful pilot program with Clear Creek Amana Community School District demonstrates product validation and market fit.
• The partnership with SUI, a major player in K-12 software solutions, provides a strong distribution channel.
• IPAS offers tangible ROI for K-12 customers, addressing critical pain points in AP processing.
• The ability to embed Intellinetics' technology with SUI's ERP system creates a competitive advantage and potential for mutual growth.

While the immediate financial impact may be given Intellinetics' current market cap of $55 million, the long-term potential for recurring revenue in the K-12 sector could significantly boost the company's valuation if execution is successful.

Education Technology Specialist

The introduction of Intellinetics' IPAS to the K-12 market addresses a critical need for digital transformation in school district operations. This solution tackles several key challenges:

• Eliminates paper-based processes, reducing administrative burden and improving efficiency.
• Automates invoice capture, categorization and routing, streamlining approval workflows.
• Enhances transparency and audit capabilities, important for public sector accountability.
• Integrates with existing ERP systems, minimizing disruption to current operations.

The testimonial from Clear Creek Amana Community School District, citing a 25% increase in effective man-hours, underscores the tangible benefits of IPAS. This efficiency gain allows staff to focus on strategic priorities that directly impact student achievement. As school districts face ongoing budget constraints and increasing demands, solutions that optimize administrative processes while freeing up resources for educational initiatives are likely to see strong adoption rates in the K-12 sector.

Fueled by Demand for AP Automation and ERP Partnership in Key K-12 Market

COLUMBUS, Ohio--(BUSINESS WIRE)-- Intellinetics, Inc. (NYSE American: INLX), a digital transformation solutions provider, today is proud to announce the expansion of its IntelliCloud Payable Automation Solution (IPAS) into the K-12 market in partnership with Software Unlimited, Inc. (SUI), a major software developer and publisher of solutions for the K-12 market. The expansion follows the successful completion of a pilot program with Clear Creek Amana Community School District (CCACSD).

Intellinetics IPAS for K-12 virtually eliminates all paper and manual steps in the scanning, capture, indexing, and filing of a school district’s AP Invoices and automates the approval process while improving transparency and audit capabilities.

The IntelliCloud Capture as a Service (CaaS) feature processes invoices sent to email inboxes and uses AI to determine invoice type, analyze and extract key fields on the document, and files the invoice automatically and securely into IntelliCloud™, Intellinetics’ flagship electronic document management platform, branded as K12Docs for SUI customers, for fingertip viewing.

Once invoices have been categorized according to the school district’s criteria, they are automatically routed to the respective departments for approval. Each department is instantly notified that invoices have arrived and are ready to be coded and approved.

“School Districts often rely on labor-intensive and disconnected systems in an attempt to manage their AP processes and as a result, they are constantly chasing and shuffling paper, buried in manual work, and anchored to filing cabinets,” said Corey Atkinson, Director of Sales & Marketing for SUI. “After a successful pilot program with CCACSD, we are excited to introduce IPAS to our customers to eliminate the most common pain points we see in a school districts AP processing and provide a solution for working more efficiently with critical business data, reduce costs, and strengthen compliance.”

“We are confident in the K-12 sector as a key market for generating significant IPAS SaaS revenue growth,” said James F. DeSocio, President & CEO of Intellinetics. “The tangible ROI IPAS provides to K-12 customers, combined with the large addressable market for IPAS created by the partnership with SUI, as well as sales opportunities within our direct K-12 customer base, underscores that confidence.”

Continued DeSocio, “We remained focused on increasing our paths to market for IPAS by building strategic partnerships with best-in-class ERP vendors like SUI. Our ability to embed our technology with theirs is the building block for mutual growth.”

“As a longtime customer of SUI and Intellinetics, we were honored to be part of the pilot program for IPAS,” stated Lori Robertson, Sr. Executive Director of Finance, CCACSD. “It’s exciting to know they are constantly innovating and transforming their platform and services to address our biggest challenges. The ability to capture AP invoices directly from email, effortlessly automate our routing and approval process, and securely store them in K12Docs is akin to getting 25% more man-hours for our department. By automating mundane tasks, our employees, one of our district’s greatest assets, can unlock their full potential and focus on strategic priorities that advance student academic achievement.”

About Intellinetics, Inc.

Intellinetics, Inc. (NYSE American: INLX) is enabling the digital transformation. Intellinetics empowers organizations to manage, store and protect their important documents and data. The Company’s flagship solution, the IntelliCloud™ content management platform, delivers advanced security, compliance, workflow, and collaboration features critical for highly regulated, risk-intensive markets. IntelliCloud connects documents to users and the processes they support anytime, anywhere to accelerate innovation and empower organizations to think and work in new ways. In addition, Intellinetics offers business process outsourcing (BPO), document and micrographics scanning services, and records storage. From highly regulated industries like Healthcare/Human Service Providers, K-12, Public Safety, and State and Local Governments, to businesses looking to move away from paper-based processes, Intellinetics is the all-in-one, compliant, document management solution. Intellinetics is headquartered in Columbus, Ohio. For additional information, please visit www.intellinetics.com.

About Software Unlimited, Inc.

The mission at Software Unlimited, Inc. is to create, maintain, update, and support comprehensive and affordable fund accounting solutions tailored to meet the state specific reporting requirements for K-12 schools. In-house product developers, full-service training staff, and a knowledgeable customer service team guarantee customers will receive unlimited access to service and support from experienced professionals. Inclusive licensing covers unlimited updates, training, and support to help K-12 administrators focus on what is important. For additional information, please visit www.su-inc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241016817663/en/

Investor Contact:

Joe Spain, CFO

Intellinetics, Inc.

614.921.8170

investors@intellinetics.com

Source: Intellinetics, Inc.

FAQ

What is Intellinetics' new product for the K-12 market?

Intellinetics has expanded its IntelliCloud Payable Automation Solution (IPAS) into the K-12 market, offering automated AP processes for school districts.

Who is Intellinetics (INLX) partnering with for the K-12 market expansion?

Intellinetics (INLX) is partnering with Software Unlimited, Inc. (SUI), a major software developer and publisher of solutions for the K-12 market.

What benefits does IPAS offer to K-12 school districts?

IPAS virtually eliminates paper-based tasks, automates invoice processing and approval, improves transparency, and enhances audit capabilities for K-12 school districts.

How does the IntelliCloud Capture as a Service (CaaS) feature work in IPAS?

The CaaS feature processes invoices from email inboxes, uses AI to analyze and extract key information, and automatically files invoices into the IntelliCloud platform for easy access and management.

What is the potential impact of IPAS on Intellinetics' (INLX) revenue?

Intellinetics' CEO expressed confidence that the K-12 sector is a key market for generating significant IPAS SaaS revenue growth for the company (INLX).