Paymerang, a financial automation platform, partnered with Veracross, a School Management Solutions provider, to offer accounts payable (AP) automation to K-12 schools.

The partnership aims to streamline financial processes for K-12 institutions by integrating Paymerang's AP automation platform with Veracross's student information system. This integration allows schools to electronically receive, code, and approve invoices, as well as manage vendor, employee, and parent payments with enhanced fraud protection.

By implementing Paymerang's AP automation platform, educational institutions expect to reduce time spent on manual tasks by over 80% and address the growing risk of payment fraud using its fraud mitigation protocols.

Analyst QuickTake: The recent partnership aligns with the company’s strategy to expand its use cases across diverse industries by engaging in strategic collaborations. In February 2024 , Paymerang partnered with LeadingAge Southeast to extend its AP automation offerings to senior living business offices, followed by an April 2024 partnership with M3 to broaden its reach into the hotel industry.