The Access Group has agreed to acquire accounts payable (AP) automation provider Lightyear, pending regulatory reviews. This acquisition, announced on May 10, 2024, aims to expand the Access Group’s enterprise resource planning (ERP) software offering globally. Claire Carter, managing director of Access ERP, expressed enthusiasm for the integration, highlighting Lightyear’s success and innovation as complementary to the Access Group’s existing solutions. Access ERP’s software streamlines operations by facilitating data sharing across various business systems, with tailored solutions for sectors such as construction, supply chain, waste management, professional services, and facilities management.
Lightyear’s suite of finance automation solutions will enhance Access ERP’s ability to meet customer spending needs through an integrated platform. Lightyear automates financial processes across AP, purchasing, and expenses, reducing manual tasks and improving efficiency. Lightyear’s CEO Chris Gregg noted that joining the Access Group marks a significant milestone, promising faster innovation and greater benefits for their combined customer base. The acquisition aligns with broader trends in AP automation, which studies show can drive business scaling, improve financial management, and enhance cash flow. Other developments include Basware’s new fraud protection system and HighRadius’s generative AI-based invoice processing solution, reflecting a growing emphasis on automation in financial operations.
