Strategically Expanding Its Position in Procure-to-Pay Market With Accounts Payable Solution
ADP (http://www.adp.com/) @, a leading provider of outsourced HR (http://www.adp.com/solutions/employer-services/human-resources. spx ) , payroll, and benefits administration services, today announced it has entered into an agreement to acquire DO2 Technologies Inc., of Calgary, Alberta, a leading provider of electronic-invoicing solutions.
"This acquisition is part of a broader strategy to provide solutions for CFO's and finance executives," said Kathy Amooi, Senior DVP and General Manager for ADP's Tax and Financial Services business. "We recognize the integral role finance professionals play in running a business and are committed to addressing their needs. By offering a broad set of solutions including payroll and tax filing, payment solutions, garnishment services, unemployment compensation management, tax credit services, sales tax automation, and with this acquisition, accounts payable, we will provide finance executives with greater visibility and control of the business so they can focus on higher level, more strategic activities."
The technology acquired from DO2 simplifies the procure-to-pay function, from purchase order integration and transaction processing to discount management, price compliance, approvals workflow, and payment. The solution is delivered through a SaaS (software-as-a-service) model, enabling fast ramp-up and a lower cost of ownership.
The acquisition is subject to customary closing conditions.
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9 billion in revenue and about 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging 60 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com (http://www.adp.com/) .