Cloud accounting business iplicit and global software as a service business Lightyear have joined forces to provide an accounts payable solution that can drastically cut the time and costs involved in the manual accounts payable process.

The partnership will see cloud accounting provider iplicit integrate its product with Lightyear’s accounts payable automation system. 

The announcement was made ahead of the accountancy and finance conference Accountex London.

Lightyear estimates the arrangements will help organisations cut the time and costs devoted to manual accounts payable processes by 80%.

iplicit commercial director, Paul Sparkes, said: “We’re excited to launch our partnership with Lightyear. 

“It will add to our portfolio of add-on products for iplicit, serving as an extension to our existing automation centre, which is already saving customers multiple working days every month.

“It gives customers a choice around invoicing automation and joins a growing number of partner products for iplicit.”

Lightyear’s founder and CEO, Chris Gregg, added: “Lightyear is proud to announce its partnership with iplicit, bringing together two powerful tools for seamless financial automation.

“By combining Lightyear’s real-time data extraction capabilities with iplicit’s advanced reporting engine, finance teams now have another efficient solution for integrating our automation software with their accounting software.

“This will enable our customers to not only drive efficiencies but also to gain more control and visibility over their financial operations.”

iplicit’s true-cloud accounting software is aimed at businesses and non-profits which have outgrown entry-level accounts systems or are being held back by legacy on-premise software. 

It features a host of automation features and easy integration with an array of other business systems.  

Lightyear provides accounts payable automation software for large SMEs and mid-market businesses which want to move to a digital process.