Joe Hyland and Jesse Henry join to deliver even greater value to enterprise customers and their supplier network
Direct Commerce Inc., the company revolutionizing AP automation, announced two strategic hires, the closing of a follow-on fundraise, and its new model designed to create a true win-win for enterprises and their supplier networks.
Direct Commerce’s new model is aimed at transforming the relationships between enterprises and their supplier networks. For decades, supplier finance programs delayed payments and buried hidden fees in complex terms – which forced suppliers toward predatory lending with extremely high APRs. But these aren’t just suppliers, they are the backbone of an enterprise’s supply chain. Direct Commerce’s Supplier First™ approach to supplier financing changes the game: buyers retain 100% of early payment discounts, while suppliers pay a low-cost membership fee for transparent, affordable access to the capital they’re already owed. Supplier First™ features empower suppliers to play a key role in accelerating the invoice approval and payment process.
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“This new model optimizes supplier and buyer relationships, enhances workflows, and ensures accuracy and compliance,” said John Mecklenburg, CEO of Direct Commerce. “It also ensures that companies capture the full value of AP automation. We’re proud to bring Joe and Jesse onboard to help forge this smarter way forward.”
Joe Hyland has been appointed President of Direct Commerce. Hyland has served as an executive at numerous fintech companies and has a record of building leading brands and award-winning teams throughout his career. He helped spur Taulia, the supply chain financing company, to record revenue by revamping its brand with marketing and media efforts that championed SMEs in their struggle for fair payments. Taulia was acquired by SAP.
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At the Goldman Sachs-backed ON24, a leading webinar and digital experience company, Hyland served as CMO and helped transform the company’s performance. ON24 doubled its number of customers under Hyland and its IPO valued the company at more than $3 billion. He also ran product strategy for electronic invoicing and payments at Bottomline, which was acquired by Thoma Bravo.
Jesse Henry, a seasoned sales executive with decades of experience in B2B automation and working capital solutions, joins Direct Commerce as Head of Sales and Go-To-Market Strategy. Henry has led transformational initiatives across procure-to-pay (P2P) and order-to-cash (OTC) functions. He has specifically focused on AP automation and working capital strategies, helping many of the world’s largest enterprises better manage their cash and improving supplier access to capital. He’s held executive roles at Taulia, SAP, C2FO, Medius, and most recently, TreviPay. Across startups and global enterprises, Henry has consistently demonstrated success bringing disruptive working capital and B2B automation technologies to market.
The company also announced the close of a growth round from W3 Capital.
“In volatile market conditions, it is critical that enterprises have transparency across their supplier networks and fast, affordable access to capital for their suppliers,” said Steve Wadsworth, Partner at W3 Capital and Board Member of Direct Commerce. “Joe and Jesse have a strong vision for helping companies unlock new avenues for growth, and we’re excited to work with them to capture this massive market opportunity.”
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Source – PR Newswire
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