TermSync
A customer-centric approach to the post-sale relationship.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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TermSync, founded in 2009 by Mark Wilson, developed a cloud-based platform to automate accounts receivable (AR) for businesses. Based in the Madison, Wisconsin area, the company secured approximately $2.87 million in funding over two rounds to fuel its growth in sales, marketing, and engineering. A significant milestone occurred in January 2015 when TermSync was acquired by Esker, a global leader in document process automation, which also has its U.S. headquarters in Madison. Wilson continued to lead the unit as president of the new TermSync division within Esker following the acquisition.
The company's core business revolves around a software-as-a-service (SaaS) platform designed to streamline the entire accounts receivable workflow for business-to-business (B2B) clients. The platform functions as a centralized hub for managing post-sale customer interactions, automating tasks that are typically manual and time-consuming. Revenue is generated through this subscription-based model. The platform is engineered to integrate with a client's existing Enterprise Resource Planning (ERP) and accounting systems with a rapid implementation timeline.
TermSync's product offers a suite of tools for AR departments, including automated payment reminders, collections forecasting, dispute resolution, and performance management analytics. A key feature is the "Invoice Assist" portal, a self-service hub for its clients' customers. This portal allows end-customers to view invoice information, make online payments, ask questions, and apply credits, thereby improving communication and reducing administrative burdens for the vendor. By automating these processes, the solution enables businesses to reduce days sales outstanding (DSO), lower administrative costs, and enhance customer relationships.
Keywords: accounts receivable automation, B2B payments, invoice management, collections management, SaaS, Esker, financial technology, payment portal, cash flow optimization, DSO reduction, order-to-cash, Mark Wilson, credit management, dispute resolution, e-invoicing, accounts receivable workflow, customer payment portal, invoice processing, financial operations, Madison Wisconsin tech