Lightyear, a global software company leveraging Artificial Intelligence and Machine Learning to deliver data automation for the Accounts Payable and Procurement sector, has established its global Head Office in Belfast with Invest Northern Ireland support.
Lightyear was founded by Northern Irish born fintech entrepreneurs and brothers, Chris and Roger Gregg. The brothers have spent most of their working lives in Sydney, Australia and Silicon Valley in the US, and have pedigree in the data automation sector, having founded and sold the Accounts Payable application, Invitbox, to US tech giant Intuit in 2014.
Belfast’s emergence as a leading innovation hub for fintech along with Invest NI’s support have persuaded them to establish their Global Headquarters at Catalyst’s Innovation Centre, initially creating 15 new jobs, with more to come.
Lightyear CEO Chris Gregg said: “We evaluated many locations to run our global operations for Lightyear but Belfast was the clear winner. The calibre of tech talent, particularly in the areas of AI and machine learning is world class. Belfast also offers a great entry point to the European and US markets and allows us to offer near 24/7 global support in partnership with our Australian office. Invest NI’s engagement convinced us that this was the right move. Being a Northern Ireland native, I am super excited to support the local economy and create our next global success story from right here in Belfast.”
The 2017 Connect Knowledge Economy Report, supported by Bank of Ireland UK and independently produced by Ulster University Economic Policy Centre identified that 3.5 million jobs have been created as a result of automation in the UK between 2001 and 2015 and stressed the need for businesses to adopt new innovations to stay competitive.
‘’Digital disruption is already changing the face of compliance services in the accounting industry and Lightyear is strategically placing itself to partner with forward thinking Accountants, Bookkeepers and Businesses who seek to harness technology to stay ahead of the pack.’’ added Chris.
Alan Wilson, Invest NI’s Director of International Investment said: “In recent years, Northern Ireland has established itself as a global leader in IT and fintech solutions and this is further enhanced by Lightyear’s decision to set up its global headquarters here. The company’s confidence in Northern Ireland is underpinned by the high level of fintech, software and DevOps skills available here.
“Lightyear may be our first fintech investment from Australia, but we will be exhibiting at Sibos 2018 in Sydney in October to make more Australians aware of Northern Ireland’s position as a top European location for high value financial services investment.
“Invest NI has offered Lightyear support of £118,000 towards Research & Development activities and the creation of six new jobs. This offer will also leverage the creation of nine additional jobs at the business. Not only is this great news for our ICT sector but it but will provide excellent employment opportunities paying salaries above the private sector median.”
Invest NI’s R&D support is part funded by the European Regional Development Fund under the Investment for Growth & Jobs Northern Ireland (2014-2020) Programme.
What is Lightyear - Intelligent Accounts Payable?
Lightyear provides automated line by line data extraction from purchase invoices with 100% accuracy, instant processing and a robust approval workflow for Accounts Payables teams enabling a truly connected and paperless office for businesses of all sizes.
Tax Rates and rules are applied at a line by line level to completely streamline the AP process.
Lightyear Integrates seamlessly with all leading cloud accounting software providers, inventory and POS systems, removing the need for data entry into multiple systems. Invoices and fully tax compliant audit history are stored online for 7 years in the Lightyear Cloud.
Get better data. Save time & money. Increase control & collaboration
To find out more about Lightyear and to sign up for a free 30 day trial, visit www.lightyear.cloud.