The leading cloud Accounts Payable and Procurement solution for large SMEs and mid-market businesses has announced a more than doubling of revenues through 2021.
The Belfast-based fin-tech company, which began in 2018 and has offices in the UK and Australia, offers a suite of products to automate the end-to-end procure to pay process and is used by over 4000 businesses in 15 countries.
Its proprietary data-extraction technology removes the need for scanners, delivering accurate and real-time line item data extraction from supplier bills, credits and Statements. In addition to data extraction, advanced approvals automation helps businesses save up to 80% overheads managing their Accounts Payables approvals processes.
With the release of its advanced Purchasing solution in 2021, Lightyear expanded its reach to businesses that require an advanced purchase requisition process. The company is already seeing the benefits with more than one-third of Lightyear new customers now using the Purchasing module.
2021 saw a number of awards and accolades including Fintech 50, GetApp Category Leaders, Software Advice Front Runners and Capterra Shortlists.
To help fuel continued growth, Lightyear doubled its headcount to more than 30 employees in 2021 and plans to double headcount again through 2022 across all business functions. 2022 will also see the company expand operations into North America where the company already has a significant customer base.
Commenting on the impressive growth, Chris Gregg CEO said:
“2021 was a transformational year for Lightyear and our customers. We expanded our global reach, accelerated revenue growth and have built out an incredibly talented team. We also launched 5 new partnerships in line with our growth strategy to accelerate via scalable partnership channels. We are leading the market for Accounts Payable and Procurement solutions in our home markets of UK, Ireland, Australia & New Zealand, and are excited to expand our global footprint whilst delivering even more innovation into our platform”.
