NetChain² was founded in 2016, by ex-fortune 500 finance executives, with one mission - Build the next generation accounts payable and accounts receivable platform and defragment the B2B technology landscape.
The founders goal was and is to provide unprecedented technology, that can think and understand complex business scenarios, provide incredible predictive insight, and empower executives/business owners to make decisions, with the system performing the day-to-day, based on those decisions. They moved to create an intelligent network, which allowed everyone to participate, regardless of size, existing technology, or process, but knew that it needed to go end-to-end without both parties connected. They were frustrated at carriers overcome with manual processes and paper. They decided whatever they built would be customizable by the operational leaders, without IT resources. Work-flow technologies being highlighted as automation were now a commodity and they wanted work-flow to be a bi-product, not a focus. It didn’t matter what process was being done, or how many steps there were, if every step was automated. Finally it had to be secure, SSAE 16 compliant, and sparkle.
1 year later NetChain Squared released the first end-to-end AP and AR automation technology, build on artificial intelligence, with built in B2B electronic payments.
The cost associated with a company’s financial operations is rising – increasing by 0.07% of revenue since 2009. The need for true automation is more prevalent than ever. In the last decade, we’ve seen the rise of work-ﬂow tools claiming automation, but in reality these products have limited ability to remove manual steps. We’ve seen a great push towards electronic payments, but little has been done to address the unique challenges of the industry. Technology fragmentation and the lack of standardization have reinforced the need to manual document delivery, wasting time and doubling work.
NetChain² is here to optimize the commercial impact of AP and AR, by instantly and intelligently moving money, data, and information. They are revolutionizing processing on both the quote-to-cash and procure-to-pay processes. They use predictive modeling to recommend actions that will create the greatest financial outcome – all with a single click. They are committed to their vision of being the global technology that defragments the B2B commerce environment, while providing the most sophisticated financial operations tools on the market, at flexible and fair pricing.
“We thrive on complexity, so our customers do not have to”
Trent Walker : NetChain² CEO
Links AP and AR directly and minimize waste (time and resources) and risks (error and fraud)
Truly automated platform that works with and enhances your company’s existing procedures
Work with any systems and can be deployed without technology resources
Fully Compliant, provides required reporting and process controls
Maximizes efficiency and cost savings
"The technology that changes the industry will be the one that solves the technology fragmentation, is inclusive, and provided transparency on both sides. The problems go beyond the capability of the current work-flow tools. Financial technology professionals need to start looking outside of the industry and leveraging advancement in other industries. NetChain2 has done this and their solution is reshaping AP, AR, and overall B2B commerce"