Fleetcor, which makes business payment software, has acquired Roger, a startup that makes artificial intelligence-driven AP automation software for small businesses.
The buy expands Fleetcor’s portfolio of accounts payable automation solutions for small businesses, which is where its focus lies. Terms of the deal were not disclosed.
The COVID-19 pandemic has accelerated cloud adoption in the accounting profession, which has in turn been a boon to AI companies whose software has also been given a boost by the mass move to the cloud.
“This acquisition provides us with a modern, cloud based, bill payment platform that will immediately open up cross-sell opportunities into our global SMB fuel card base,” said Ron Clarke, chairman and CEO of Fleetcor, in a statement. “It’s a big step in expanding our fuel card business into a corporate payments business, and extending our current middle market corporate payments business into the SMB space.”
Roger.Ai is designed to help small and midsized businesses gather and scan invoices and receipts, eliminate manual data entry using machine learning technology, approve and execute payments, setup automated workflows, and sync with accounting systems like QuickBooks Online, Sage Intacct, Xero and others in real time.
Roger’s technology, Roger.Ai, is available to accounting firms in North America and Europe to use, refer and resell in connection with their SMB clients through the Roger Advisors Platform.
