Circulus SMB Surpasses $100MM in Vendor Payments
Rapid Growth and Product Adoption for North Texas Fintech Firm
Plano, Texas, April 26, 2017 (Newswire.com) - Circulus has announced that the total client payables executed since the launch of their SMB platform have surpassed $100MM. The Circulus SMB platform (previously XTBills) launched its BETA program in May of 2015 and has processed over thirty-five thousand payments, totaling over $107 million in payables since that time.
By leveraging over ten years experience in the enterprise accounts payable automation space, the Circulus SMB platform was developed to take these capabilities down-market to small business. In doing so, the platform was crafted to offer a powerful AP tool at a price point within reach of virtually any business.
This offering features a deep integration with Quickbooks Online and Quickbooks Desktop products, which has allowed Circulus SMB to quickly make an impact in the market by processing over 8,000 checks and 30,000 ACH payments since launch.
Hitting this milestone so quickly gives us great confidence in the future of the product
“We dedicate a significant amount of effort on roadmap development, client success, and soliciting feedback from SMBs, CPAs, and bookkeepers. Hitting this milestone so quickly gives us great confidence in the future of the product” says Product Manager Bill Whitson.
The North Texas fintech firm continues to innovate within the automation and payable spaces and is excited to launch multiple feature releases throughout the remainder of 2017.
Re-branded in 2017, Circulus is the convergence of three separate business units previously managed under the XTGlobal and XTBills brands. With a focus on AP automation and tech-enabled business process outsourcing, Circulus has developed an innovative model for delivering scalable business growth across a span of verticals. Since 2006, the company’s enterprise services have processed over 94 million documents, with invoice values of over $173 billion, while the SMB division has paid over $107MM worth of payables on behalf of its quickly growing customer base. This includes more than 30,000 ACH payments and over 8,000 check payments since the launch in 2015. Circulus is based in Plano, Texas, with over 500 employees throughout the U.S. and India.