Synchronoss Financial Analytics platform selected by Rackspace to accurately validate expenses and invoices
October 30 2019 - 8:30AM
Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and
innovator of cloud, messaging, digital and IoT products, today
announced that Rackspace will use the Synchronoss Financial
Analytics platform to manage costs, provide visibility and deliver
savings by checking and validating the accuracy of its largest and
most complex third party partner expenses and invoices.
The Synchronoss platform will use advanced
analytics to evaluate the complex, large-scale invoices that
Rackspace receives from its partners each month. Each invoice can
contain complex large datasets, which the Synchronoss platform will
automatically process to identify potential anomalies and errors in
the data. The automated process will improve accuracy, and will
also provide expense governance to enable Rackspace to promptly
recoup misbilled charges on its largest expenses.
“Checking and validating the large and complex
invoices we receive each month from our partners and suppliers is
an operational challenge,” said Dustin Semach, Chief Financial
Officer at Rackspace. “The Synchronoss platform is an important
addition to our operational toolkit. The platform automatically
captures and rapidly processes vast amounts of data at scale, then
transforms that data into actionable insight.”
Synchronoss President and CEO Glenn Lurie said:
“The Financial Analytics platform has already been used by some of
the world’s largest service providers to validate the accuracy of
their supplier billing and drive meaningful operational savings.
Rackspace’s innovative use of the platform demonstrates its
flexibility and underlines its value to large global enterprises
looking to generate operational efficiency. This agreement also
shows the significant progress that Synchronoss is making to
broaden our reach and open up new opportunities for our products
and technologies outside our established TMT footprint.”
About Synchronoss Technologies,
Inc.
Synchronoss (NASDAQ: SNCR) transforms the way
companies create new revenue, reduce costs and delight their
subscribers with cloud, messaging, digital and IoT products and
platforms supporting hundreds of millions of subscribers across the
globe. Synchronoss’ secure, scalable and groundbreaking new
technologies, trusted partnerships and talented people change the
way TMT customers grow their businesses. For more information,
visit us at www.synchronoss.com.
Investors Joseph Crivelli
Synchronoss 908-566-3131 investor@synchronoss.com
Media Contact:Anais Merlin CCgroup
(International) T: +44 20 3824 9200 E:
synchronoss@ccgrouppr.comDiane RoseCCgroup (North America)T: +1
727.238.7567E: diane@ccgrouppr.com
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