Lucrotec offers an end‑to‑end B2B payables platform, APeX, that automates invoice digitization, supplier onboarding, payment processing, and 1099 tax reporting in a single SaaS solution. The system combines robotic process automation, OCR/AI, and direct connections to banking partners to enable ACH, wire, check, and card payments—including international FX—while maintaining compliance and real‑time reporting.
Funding
Funding not disclosed
Founders
Product
Problem
Enterprises often manage accounts payable through fragmented systems that require manual data entry, separate supplier onboarding, disparate payment methods, and complex tax reporting, leading to inefficiencies, errors, and compliance risks.
Solution
Lucrotec offers an end‑to‑end SaaS platform, APeX, that unifies supplier onboarding, invoice digitization, multi‑mode payments, and 1099 tax reporting within a single cloud solution. The platform uses robotic process automation, OCR/AI, and direct banking connections to extract invoice data, route approvals, and execute ACH, wire, check, card, and international FX payments. Built‑in compliance checks and continuous supplier monitoring reduce fraud and ensure KYS/1099 obligations are met automatically. Real‑time dashboards provide detailed transaction tracking, reconciliation, and rebate reporting, allowing finance teams to streamline AP workflows and gain full visibility without integrating multiple legacy tools.
Target Audience
Primary customers are mid‑size to large enterprises that run complex B2B accounts payable operations, including finance departments, procurement teams, and treasury groups seeking a consolidated AP automation solution.
Features
- Automated supplier onboarding with verification, KYS compliance, fraud detection, and a self‑service portal
- AI‑driven invoice digitization (OCR) and rule‑based workflow for allocation, approval, and ERP connectivity
- Unified payment engine supporting ACH, wire, check, virtual/ghost cards, and international FX in multiple currencies
- Automated 1099 generation, printing, mailing, and USPS tracking for MISC/INT/NEC forms
- Real‑time reporting, automated reconciliation, and rebate statements delivered via a web portal and flat‑file exports
- Secure custodial clearing account at a tier‑one bank and built‑in security/compliance controls