Cash management.

Velosant LP and Taxware have announced that the two companies will merge and operate as a single organization, under the Velosant name. The company will offer capabilities in integrated accounts payable, accounts receivable, tax calculation and compliance, and cash management solutions for companies worldwide.

Both Velosant and Taxware are operating companies of eONE Global, which is majority-owned by electronic commerce and payment services firm First Data Corp. Velosant helps companies transform their invoice presentment, receipt and payment processes from manual and paper-intensive to a fully electronic andssss automated system. Taxware is focused on global commercial tax services, which simplify the tax calculation and compliance process with solutions for sales and use taxes, exemption processing and automated returns, among other services.

Integrating Taxware's product offerings with those of Velosant provides a differentiated proposition and broader set of financial supply chain automation solutions to CFOs in Fortune 1000 companies. Velosant will continue offering Taxware software and services as solutions, which can be purchased independently, and will remain focused on supporting governments around the world in efforts to simplify transaction tax compliance, including a commitment to the Streamlined Sales Tax Project (SSTP).

Taxware and Velosant "already have complementary customers and partners," said Avivah Litan, vice president and director of research, payment services, for Gartner Research. "However, the biggest opportunity lies in their ability to address critical pain points facing today's CFOs, who are under increasing pressure to bolster the bottom line through streamlined financial practices and improved cash flow management."

Web: www.velosant.com