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Intellinetics Showcased New Accounts Payable Automation Solution at IBS 2023
Rhea-AI Impact
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Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Intellinetics, Inc. (NYSE American: INLX) has introduced the IntelliCloud™ Payables Automation System (IPAS) at the 2023 NAHB International Builders' Show in Las Vegas, demonstrating its capabilities in automating the invoice-to-pay-to-reconciliation process. The company partnered with Constellation HomeBuilder Systems to integrate IPAS with their ERP software, aimed at reducing costs and enhancing compliance for builders. The solution utilizes advanced AI and machine learning technologies to streamline AP processes, promoting efficiency in construction operations. Intellinetics continues to expand its market reach by embedding its technology with leading ERP platforms.
Positive
Launch of IntelliCloud™ Payables Automation System at a major industry event supports increased visibility and adoption.
Collaboration with Constellation HomeBuilder Systems enhances product offerings and opens up new market opportunities.
Utilization of patented AI and machine learning technologies promises significant efficiency gains in AP processes.
Negative
None.
IntelliCloud™ Payables Automation System Fully Automates AP Process
COLUMBUS, Ohio--(BUSINESS WIRE)--
Intellinetics, Inc., (NYSE American: INLX), a provider of solutions and services that enable and accelerate digital transformation, is proud to announce it showcased its IntelliCloud™ Payables Automation System (IPAS) at the 2023 NAHB International Builders' Show (IBS) January 31- February 2 in Las Vegas. IPAS automates the entire invoice-to-pay-to-reconciliation AP process.
Intellinetics collaborated with the Constellation HomeBuilder Systems division of Perseus Group Software Corporation, a leading provider of software and services in the building industry, to create a seamless AP automation module that is completely integrated with Constellation HomeBuilder Systems’ industry-leading NEWSTAR Enterprise ERP software for home builders and land developers. IPAS utilizes patented artificial intelligence and machine learning technologies to eliminate the costly manual steps in GL-coding, workflows and approvals, data entry, and invoice filing.
“Construction, like many industries, is battling with higher costs across the board,” said Matt Chretien, Chief Strategy Officer at Intellinetics. “We are proud to be working with Constellation HomeBuilder Systems to introduce innovative solutions to help builders reduce costs, strengthen compliance, and make agile business decisions with real-time dashboard views into data, trends, and documents.”
“It has been a pleasure working with the team at Intellinetics and with our homebuilding customers to unlock efficiencies for payables automation”, added Chris Graham, President of Constellation HomeBuilder Systems.
“We continue to drive adoption of our IntelliCloudTM Payables Automation Solution (IPAS), launched earlier this year, by showcasing it at the 2023 NAHB International Builders’ Show (IBS), the largest annual light construction trade show in the world,” said James F. DeSocio, President & CEO of Intellinetics. “IPAS is a new enterprise-class software solution for financial platforms that support very complex cost-accounting markets. Embedding our technology with ERP platforms enables us to enter new markets and scale customer acquisition.”
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 Constellation HomeBuilder Systems
Constellation HomeBuilder Systems is a leading provider of software and services in the building industry. Their innovative software solutions, available as standalone or integrated systems, empower builders with information to drive business objectives and simplify the process of building homes and condos. Constellation HomeBuilder Systems is the home building software division of the Perseus Operating Group of Constellation Software Inc., an international provider of market-leading software and services for specialized industries, which is traded publicly on the Toronto Stock Exchange.
Cautionary Statement
Statements in this press release which are not purely historical, including statements regarding future product developments, future product enhancements, future innovations, entrance into new markets, and increased customer acquisition and other intentions, beliefs, and expectations are forward-looking statements. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks associated with the effect of changing economic conditions including inflationary pressures, a general economic downturn, Intellinetics’ ability to execute on its business plan and strategy, customary risks attendant to acquisitions, trends in the products markets, variations in Intellinetics’ cash flow or adequacy of capital resources, market acceptance risks, the success of Intellinetics’ solutions providers, including human services, health care, and education, technical development risks, and other risks, uncertainties and other factors discussed from time to time in its reports filed with or furnished to the Securities and Exchange Commission, including in Intellinetics’ most recent annual report on Form 10-K as well as subsequently filed reports on Form 10-Q and Form 8-K. Intellinetics cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Intellinetics disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release. Expanded and historical information is made available to the public by Intellinetics on its website at www.intellinetics.com or at www.sec.gov.
