OpenEnvoy Partners with Schreiber Foods to Launch Autonomous Finance

SAN MATEO, Calif., Jan. 14, 2025 /PRNewswire/ -- OpenEnvoy, the leader in Autonomous Finance technology, has announced a groundbreaking partnership with global food company Schreiber Foods. The collaboration includes a strategic investment from Schreiber's venture arm and the implementation of OpenEnvoy's Autonomous Finance platform across Schreiber's financial operations.

The partnership introduces a comprehensive digital transformation of Schreiber's financial processes through OpenEnvoy's AI-powered platform, focusing on automating Accounts Payable (AP) and Accounts Receivable (AR) operations.

"Today, we redefine what's possible for finance teams," said Matthew Tillman, CEO of OpenEnvoy. "Schreiber Foods is setting a new standard for the Food & Beverage supply chain by starting with finance, where the impact is immediate and measurable. This partnership is more than an investment; it's a collaboration to bring autonomous solutions to manufacturers with complex spend, which is exactly what OpenEnvoy was built to solve. Together, we're building new capabilities to meet the sophisticated demands of global food and beverage operations, backed by the expertise of one of the industry's biggest leaders."

"We're committed to driving innovation that enhances both financial and supply chain operations across our ecosystem," said Blair Tritt, Vice President, Corporate Ventures and Partnerships at Schreiber. "Our investment in Open Envoy reflects our belief in their transformative technology, which not only streamlines finance workflows but also strengthens supply chain transparency and efficiency. We're excited to deepen our partnership and unlock long-term value throughout the complex supply chain."

"The complexity of global supply chains demands innovative financial solutions," said Michelle Dahlke, Vice President, Financial Shared Services at Schreiber. "OpenEnvoy's platform will allow us to process transactions more efficiently and accurately while giving our team the insights to drive cost savings and working capital improvements. This technology will transform how we manage our financial operations across our global network."

The implementation centers on four core elements:

• Autonomous Payables: Advanced automation for invoice processing and validation
• Autonomous Receivables: Streamlined cash application management
• System Integration: Complete compatibility with existing infrastructure
• Data-Driven Insights: Real-time analytics for strategic decision-making

Together, these pillars will enable Schreiber Foods to set a new benchmark for efficiency and agility in the global Food & Beverage supply chain.

The partnership aims to:

• Enable real-time financial operations and insights
• Reduce costs through automated workflow optimization
• Build scalable and resilient financial processes
• Set new industry standards for financial automation

About the Companies

OpenEnvoy is an award-winning Autonomous Finance company. Our team of experts in procure-to-pay and machine learning develops technology that helps companies manage complex financial operations with ease. OpenEnvoy's solutions automate routine tasks to ensure compliance, optimize cash flow, and eliminate cash leakage.

Schreiber Foods strives to do good through food every day. Based in North America, we're a customer-brand leader in cream cheese, natural cheese, process cheese, beverages, and yogurt. Our more than 10,000 employees and presence on five continents enable us to be an essential ingredient in our customers' success. With annual sales of more than $7 billion, we partner with the best retailers, restaurants, distributors and food manufacturers around the globe. We also recognize our responsibility to do good in the world and are driven to make a difference in everything we do.

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SOURCE OpenEnvoy