University of Virginia Selects Transcepta to Automate Invoice Processing

ALISO VIEJO, CA--(Marketwired - February 10, 2016) - Transcepta, a leading innovator of cloud-based procure to pay solutions, announced that the University of Virginia selected Transcepta to eliminate paper invoices and achieve touchless, straight-through invoice processing.

The University of Virginia was founded by Thomas Jefferson in 1819. The University is a public institution that sustains the ideal of developing, through education, leaders who are well-prepared to help shape the future of the nation and the world. It was the first university in the United States to use the elective course system. The University of Virginia is the latest higher educational institution to join the Transcepta Network.

"Transcepta's higher education experience, professionalism, and helpfulness represented the best option for enabling the maximum number of vendors with electronic invoicing for the University of Virginia," said John McHugh, Assistant Director of Procurement and Supplier Diversity Services at the University of Virginia.

Leading universities value Transcepta's ability to remove paper from the invoicing process and also achieve two and three way matched invoices without human intervention. Achieving a straight-through invoice process requires different approaches for different segments of suppliers. Transcepta Invoice Inspect, Transcepta Invoice Analyze, and Transcepta PO CloudMatch™ are among the innovative Transcepta products customers leverage to receive only validated, electronic transactions from their suppliers. 

"Educational institutions are continuously searching for ways to help lower expenses while improving their efficiency," said Ray Parsons, Transcepta Chief Executive Officer. "We are very pleased to add the University of Virginia to the list of universities we are helping to achieve their goals in accounts payable and procurement."

 About Transcepta

Transcepta connects Procurement and Accounts Payable professionals with their suppliers, enabling everyone to achieve greater profitability. Every day, thousands of companies access the Transcepta Network to improve e-invoicing and procure-to-pay processes, drive financial value across the supply chain, and communicate dynamically. Since 2005, the world's most respected companies have chosen Transcepta. Transcepta is headquartered in Aliso Viejo, CA.

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