Paymetric Inc., a Houston-based provider of payment card solutions, has sold its XiBuy solution to BizAps for an undisclosed amount. XiBuy is an SAP add-on solution for integrating and managing purchasing card transactions in SAP. Paymetric has raised over $11 million from Austin Ventures.
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced that BizAps, a WNS group company, has acquired XiBuy™ from Houston-based Paymetric, Inc. XiBuy is a certified SAP® add-on solution for integrating and managing purchasing card (p-card) transactions in SAP. As a result of the transaction, BizAps expects to provide all on-going development, support and maintenance activities for XiBuy customers, which include leading blue chip companies, providing seamless continuity by utilizing key Paymetric development and support personnel.
BizAps delivers a broad range of solutions for the procure-to-pay automation market. The addition of the XiBuy solution provides a complementary product to BizAps’ p-card portfolio and increases its penetration into the North American market. The expanded p-card solution will give customers a wider range of offerings to suit their unique procure-to-pay needs.
“This acquisition is in line with our vision to be the leading procure-to-pay solution provider by enabling businesses with a highly integrated and automated account payable function,” said Conor Mullaney, Director of BizAps. “XiBuy’s functionality enhances our planned product roadmap, widens our depth of offerings and expands our finance and SAP optimization consultancy practice. While we are excited about what the future holds for the combined business, our first priority is to ensure a smooth transition for all existing service agreements and annual maintenance contracts for existing XiBuy customers.”
“This is a strategic move for Paymetric and is a testament to the success we’ve enjoyed in bringing world-class payment integration solutions to the SAP market,” said Kathleen Nugent, Vice President of Paymetric. “We are excited for our XiBuy customers and are confident they will enjoy continued success and expanded opportunities under the care and guidance of BizAps. Their experience in SAP integration and specialization in procure-to-pay solutions is why we chose BizAps to be the steward of the XiBuy solution going forward.”
About Business Applications Associates (BizAps)
Business Application Associates (BizAps), a WNS Group company formed in 2001, is a leader in delivering innovative SAP solutions that optimize finance functions and processes including purchase-to-pay, order to cash and financial supply chain functions. Its SAP Finance focus provides “best in class” solutions used by many global companies. BizAps is a leader in integrated and secure ePayment processing with a proven track record in delivery. Additional information about BizAps is available at www.bizaps.net.
About Paymetric, Inc.
Paymetric, Inc. is solutions for ERP systems. Paymetric combines proven expertise in ERP payment workflow and security with powerful ePayment processing services to dramatically reduce the total cost of payment acceptance, transform and streamline enterprise payment processes, and substantially reduce the burden of PCI compliance and data security. Paymetric is an Austin Ventures portfolio company and an award-winning SAP software partner. Visit www.paymetric.com for additional information.