Billtrust, a provider of outsourced billing services, has acquired Open Scan Technologies, an automated business payments company.
The companies did not disclose financial terms of the deal. Billtrust and Open Scan have previously collaborated on technology for business-to-business billing systems.
The acquisition "will help our clients complete the invoice-to-cash 'round trip' that culminates with the accurate, speedy application of cash," says Flint Lane, founder and chief executive of Billtrust, in a July 17 press release.
Open Scan creates software that imports information from remittance forms, reconciles the data, and then applies it to major business management systems, including Oracle.
Billtrust is headquartered in Hamilton, N.J. Open Scan is based in Denver, Colo.