Zone & Co adds OCR capabilities with Staria Flow Acquisition

Zone & Co has acquired Staria’s accounts payable (AP) automation solution, Staria Flow.

The acquisition will add optical character recognition (OCR) capabilities to Zone’s order fulfillment solution, the companies said in a press release on Thursday (July 11).

This follows Zone’s acquisitions of financial reporting solutions provider Solution 7 and payroll and workforce solutions provider Infinet Cloud over the past year, as well as the introduction of generative artificial intelligence (GenAI) functionality, Thomas Kim, CEO of Zone & Co, said in a press release.

“This announcement marks another major investment to accelerate our platform capabilities, aligned with our broader vision that continues to support our organic growth,” Kim said. “By combining our capabilities, we are creating more value, faster for our combined global customer base. By enabling them to streamline their purchase and payment journey from start to finish with a single login.”

According to the release, the Zone platform integrates with leading enterprise resource planning (ERP) software to provide enhanced capabilities such as complex revenue accounting and recognition, AP automation, and advanced financial planning and analysis (FP&A) reporting.

The Staria Flow solution offers OCR technology, electronic invoicing and bank connectivity capabilities to streamline AP and payment processes, the release said.

According to the press release, the addition of Staria Flow to the Zone platform will add additional functionality to Zone’s AP solution and will be able to accelerate product innovation.

“The integration of Staria Flow and Staria Banking into the Zone product suite will streamline payments and accounts receivable and create a seamless financial management experience for our users,” said Artti Aurasmaa, CEO of Staria, in a press release. “It also allows us at Staria to focus on delivering world-class services and solutions to our customers in global accounting, ERP consulting, BI (business intelligence) and planning.”

PYMNTS Intelligence found that digital technologies supporting payments workflow automation have streamlined the cycle from order capture to pay.

Eighty-three percent of CFOs said buyer-seller payment integration reduced payment friction, 77% said automation’s processing speed reduced billing errors, and more than a third attributed a reduction in days of invoice tracking delays to AI-powered automation, according to “Solving Accounts Payables’ Top Frictions With Automation,” a PYMNTS Intelligence and Corcentric collaboration.

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