BravoTran, a Chicago firm that offers a payables automation platform for international freight forwarders, has acquired Keystroke.io, a specialized accounts receivable (AR) automation provider, the firms said Friday.
According to BravoTran, the acquisition enables it to streamline both payables and receivables capabilities for freight forwarders, a first in the industry.
That’s significant because inefficient AR processes result in delayed payments and cash flow challenges. And many forwarders routinely experience short-paid or slow-paid invoices because they fail to meet specific customer billing requirements, BravoTran said.
“Keystroke addresses a known customer pain point,” BravoTran CEO Tom Durrenberger said in a release. “We’re implementing this capability across our customer base to offer an end-to-end solution that brings unified automation to both the payables and receivables functions, saving our customers time and money while positioning BravoTran to become the leading payables automation service for freight forwarders.”
Terms of the deal were not disclosed.
